Difference between newbie struggling trader vs successful trader

One more thing to add: if one looks at the screen real estate in these firms, the screens/TVs are full of price quotes, maybe one or two charts, but even those are not cluttered with technical studies. That's telling.
 
glazier said:
From what i've seen...
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This implies you were actually in the same room with at least one successful trader.

Please describe what was actually on his/her monitor and was this a retail trader or a trader working for a financial institution and what did he/she talk to you about while trading ?

wrbtrader
 
OHLC, V, OI, for outrights for Ice EU and US, calendar spreads, inter-market spreads, Reuters news stories. On the vol side, it's surfaces, the usual really. The price charts are very simple barcharts really, to mess about and analyse, but not to trade off.
 
focus 38.png

discipline is action or inaction that is regulated to be in accordance with a particular system, your trading plan.
focus, a state or condition permitting clear perception or understanding
commitment, to pledge or assign to some particular course or use
Don't rely on others. Put in the time, reap the rewards
after all is said and done, more gets said than done. Aesop

%%%%%%%%%%
 
bd10 said:
OHLC, V, OI, for outrights for Ice EU and US, calendar spreads, inter-market spreads, Reuters news stories. On the vol side, it's surfaces, the usual really. The price charts are very simple barcharts really, to mess about and analyse, but not to trade off.
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This is very similar to what I saw along with their communication with others that traded different assets and the fact that they had a compliance department...many other things that most retail traders seem to believe they can outsmart on their own.

The myth that they don't use charts or don't use fundamentals or they don't talk to other profitable traders trading different assets is just that...a myth.

wrbtrader
 
The novice pays much more attention in practically imitating the more specialized to try to make profits and because of that they do not learn how to analyze the market on their own, which generate many losses. The expert trader knows how to act in the market always and does not allow himself to be guided by recommendations or advice from other experts, he only relies on his own effort to invest in the market.
 
The newbie struggling trader thinks that in a losing trade, stocks will come back and he is not losing money as long as he doesn’t close his losing position whereas the successful trader has no doubt about cutting his losses short because he is aware of the fact that bigger the loss, the more difficult it would be to come back from it.
 
“to predict future outcomes based on known facts” I think that this quote reflects perfectly what majority of traders is actually doing on this market. But, I am more interested in what I call epsilon radius of the market, because I think that it has huge impact on next price move
 
Every beginning is hard. I think that we will all agree on this one. This is why I am trying to have understanding for new traders as I understand their struggles. Certainly, experience is very important on this market, so profits would flow only after many flight hours
 
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