Difference between newbie struggling trader vs successful trader

[Scataphagos]

IMO, after being in this business since 1981, the difference between a successful trader-retail or otherwise-is process.

Yes!

An aspiring trader needs to...

1. Develop a "process"... understand what you should do and why. This takes a while. Lots of trial and error. When it looks like you've got something... practice on sim or with small money to refine.

2. Then execute the process with discipline.

 

[Scataphagos]

When you place a trade, you are by definition making an implicit prediction of what the market will do.

Ditto. Unfortunately there is a lot of time wasted and teeth gnashing on the strict definition of "predicting" the market.

 

[lovethetrade]

LOL. I disagree. If the drafter of the statement fails to provide context, then the statement stands, or fails, as is. And generally; general, broad, unsubstantiated (even anecdotally), bombastic statements fail.

I disagree, I had no problem whatsoever understanding the context of the statement.

 

[userque]

[Sighs]

I never said you misunderstood. I'll try to simplify

You said,

...Without context everyone's opposing view is correct.

I responded to that right there, with regard to your mention of a lack of context. What were you referring to ... that lacked context? Rhetorical question.

I replied to your mention of a lack of context,

LOL. I disagree. If the drafter of the statement fails to provide context, then the statement stands, or fails, as is. And generally; general, broad, unsubstantiated (even anecdotally), bombastic statements fail.

So you strangely replied,

I disagree, I had no problem whatsoever understanding the context of the statement.

You disagree with what exactly? I said "If," in response to your mention of context.

When did I say you misunderstood the context? I said "If," in response to your mention of context.

Tell me, what are your thoughts on reading comprehension in today's society?

 

[lovethetrade]

[Sighs]

I never said you misunderstood. I'll try to simplify

You said,


I responded to that right there, with regard to your mention of a lack of context. What were you referring to ... that lacked context? Rhetorical question.

I replied to your mention of a lack of context,



So you strangely replied,


You disagree with what exactly? I said "If," in response to your mention of context.

When did I say you misunderstood the context? I said "If," in response to your mention of context.

Tell me, what are your thoughts on reading comprehension in today's society?

Take your medication.

 

[gentlerich]

I think a successful trader would let his positions run as they are going his way and close his position when his strategy tells him to and newbie trader might closes his position as soon as he gets a small profit. Former would pay attention to cutting losses. Newbie struggling trader might think to earn steady income from this but successful trader first evaluates the performance and also don’t believe in betting big in order to make money as much as possible.

 

[maxinger]

SIMILARITIES.
both of them could have

- similar IQ
- similar computer hardware and software
- similar education background
- similar trading coaches
- similar hobbies / interests
- passion for trading

but their trading results could be 180 degree apart.

 

[themickey]

It is true that prediction implies what will happen. Probability implies the likelihood of it happening. Mickey shooting his double barrel shotgun at a deer standing 50 yards away is thinking he is likely to hit it with at least one of the pellets is probability. Shooting his gun at a deer 3 feet away ...well....he is predicting. That is why short-term trading is a more accurate form of prediction. And the probability also goes up. I can accurately predict Mickey will hit that deer 3 feet away UNLESS he is just a piss poor shooter. So I would give that deer a death probability that ranks very high on a probability scale and thus can also predict we will have deer for lunch tomm.......a double prediction!

ROFLMAO

Yabber yabber yabber.....

 

[themickey]

Ok, I give in, here am I trading. Finally I'm revealing my secret.....

 

[Handle123]

newbie - he tries to predict the market
successful trader - he has already given up predicting the market

newbie - he aims for higher accuracy
successful trader - he aims for mediocre accuracy

Thank goodness we all have opinions!

From your first breath of life, we are predicting we will live, you walk across the street, you are predicting not to be hit by cars or birds or lightening strikes.

Newbie does not know what to discard and what works.
Successful trader understands how the market flows, moves and don't move when it is expecting. One can do well with 4% losing percentages or 5% winning percentages, and others with same percentages be bankrupt. He/She finds what works for them and exploits it. Having "balls" size of watermelons get one to next levels, you have to take aggressive conservative stance to get to new levels.