what separates a succesfull trader from un succesfull trader

[wallstreet1]

Nicely said! Those are very essential things & yet I have seen even experienced people make those mistakes.

 

[vssoma]

jo jeeta vohi sikandar....:rofl:

 

[AW10]

Nicely said! Those are very essential things & yet I have seen even experienced people make those mistakes.

It is not that they don't make mistake.. but do u know how much it costs them.
And if experienced trades are making similar mistakes, then they will not be successful.. or atmost, just marginally successful.

 

[veluri1967]

NEVER EVER ADD TO A LOOSING TRADE even if looks juicy to average it down


atleast till you see a consistent positive trading a/c.

 

[rajeabc]

money management.

 

[d_s_ramesh]

Money management and discipline along with belief on the system.

 

[andrewjuliandavid]

As everyone says Money Management and Discipline will make profit ...
Yes ofcourse that is the only secret to success

 

[sadiq]

Amateur - Over Trader - Taking and following decision out of addictiveness, without some specific exit and entry rule, couldnt hold himself from trading when conditions are odd. Out of addictiveness to trade he will take losses, rather then staying out.

Pro - Trader - No matter what, he sticks to his entry and exit criteria. If no signal then he stays out. Not addicted to trading in wrong conditions.

share market is like a sea and till date i think that i have only gained a drop from it...and no matter how long, it will still be less...experience in share market IMO is when some body is earning regularly in all the market directions. His balance sheet is giving him positive results. Else all the knowledge, all the experience is waste.

There are traders sitting around the world, who are trading for so long with simple trading method like moving averages, on the counter end, there may be new traders, who are working with all the indicators they know. And both are in profit. The person working for so long only knows his own strategy. But the other knows the edge of other systems also. So it hardly matters who is experienced.

All it takes is an adaptive and learning mind.

great post . thankx

 

[wallstreet1]

And if experienced trades are making similar mistakes, then they will not be successful.. or atmost, just marginally successful.

Yes, then they may be experienced traders but not successful ones

 

[moulinath]

the real difference between succesful and unsuccessful trader is the attitude. trading is simple. you just have to follow certain rules. very easy to say and very difficult to implement. the succesful trader should have an iron discipline. there is a dangerous enemy of a trader . that is emotion. if one can win emotion during trading that can make or break a trader. second most important thing is money money management. the trader must decide how many trade he/she will execute and the amount per trade. how much risk he/she is wiiling to take. there are two aspects. one how much risk per trade and second most important total risk during trade. it is foolish to take abnormal risk. that can be fatal. and one must know when to tade and most importantly when not to trade, watch from sideline. from my personal experience I would like to share there are very limited number of oppertunity available in any given period of time. one should wait and watch tha perfect position to enter. unlike fund manager the individual trader need not trade always. this is a tremendous advantage. lastly the trader must have a passion for the stock market. if you love the market money will automatically follow. :thumb: