How to be a good trader?

[pipeguy]

Of course, there is no substitute for hard work
it's better start from learning Forex basics. after it you can practice on free Demo account, for instance at JustForex. On Practice account you can test your trading strategies, and make a real deposi

Tried this broker but my experience was unsatisfactory. Later move on Hotforex and still enjoy experience. Although sometimes I get slippage on my fast trades but I think these costs are unavoidable

 

[CrytpoTrading]

Of course, there is no substitute for hard work
it's better start from learning Forex basics. after it you can practice on free Demo account, for instance at JustForex. On Practice account you can test your trading strategies, and make a real deposi

Nice way to get your aff link in there LOL

 

[Weelor]

I think that a good trader has many attributes in him. He doesn't rely on a single charateristic. The best thing about a good trader is that he learns from his mistakes and try to ammend it in the next session. I think that this is top quality of a good trader.

 

[Harry Butcher]

But aren't you then tied in?

The man has a point.

 

[fube]

I think it's about the mental aspect. I think developing the mental framework is key to becoming a good trader. I think once you start seeing the market for what it is--a game of probability, variance, and risk management--then you can manipulate the pieces better. By that I mean, understanding the concept of basic probabilities such as playing the following game: Risking $0.30 to make $1. Or playing a game where you risk $0.15 to make $1. Constructing the mindset where you accept that you are committing yourself to an endeavor that has considerable variance. Positioning yourself and strategies in a way where your wins are significantly greater than your losses. Allowing at least several losses to be recovered by one win (I know this may not be the case for scalpers who are 1:1, but I am speaking in a general sense). I think the mental game of the markets is key to becoming good. Once you start seeing there is a way to enter trades where you have a 1:3 or 1:2 favorability, then you start to trade better and more efficiently.
Edit: Also, remembering that the money is just a way to keep score.

 

[noahark]

Nice way to get your aff link in there LOL

You just helped him double the link be quoting

 

[bublu]

I don't think any doubling had happened because everyone here on forums knew about affiliate links.

 

[LloydPhill]

IF I can pick anything here is two words; risk management and money management. These are very important if we must succeed in the market, else we would be dashing our funds out in the air.

 

[CrytpoTrading]

You just helped him double the link be quoting

ah shit

 

[LloydPhill]

I have not yet seen a broker bonus that is worth doing.

Bonuses have upgraded so much, you can actually trade with them. It depends on the broker though, because you can actual transfer your bonuses to your account and trade with them. That's a total gain or win for me.