How to identify 2% club of succesful traders in ET?

R

rajesheck

Dear traders

It is very difficult to identify the 2% club of successful traders because we need a different mindset altogether to see trading as a business instead of pure technical skill. Trading is both art and science. Art is creativity. It needs creative visualisation to see the big picture of trading as a business skill.

Business skill is a blend of intelligence (IQ) and emotional intelligence (EQ). Business mindset means healthy relationship with money. Ofcourse MBA is not mandatory for business success.

It is speculated that 98% of traders loose money, probably because of lack of business skill or in other words throwing away money in the name of investment which is definitely not a healthy relationship with money.

After a decade of trading experience i realised that i need to improve my relationship with money. The following thread is my reflection/wisdom on how to respect our investment while trading. This approach of early detection of trend reduces the frequency of stop loss hits. I call it respecting our investment.

https://www.elitetrader.com/et/threads/how-to-calculate-success-rate-of-our-trading-strategy.374681/
(I identify early trend based on two aspects:
1. Market opening OR trend reversal
2. Early support/resistance)

Probably only 2% of traders may see/appreciate what i am sharing here. I am wondering what percentage of traders are in transition from 98% crowd to 2% club? Because i am one of those who completed the transition. (I would be glad if you are one of those who is in the transition.)

The bottom line is trading is a business skill and definitely not a gambling skill. Majority of traders have gambling mindset which is very dangerous to their investment. And i cannot expect gamblers to respect my business point of view. Right?
 
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earth_imperator said:
LOL! :)
Is this the newest scam trick? :)
Why is it so important for you to know the data of others?
More...
Can I ask you a couple of questions?
Do you see yourself as an innovative person?
Can life be exciting without a curious mind?
Is life more meaningful without worthy ambitions?
Is the student of life awake or sleeping in you?
What is stopping you from exploring new areas of your life?

And my reply to your question is "Data rules the world, always" though i am mainly concerned about skills development.

I believe that scams exist because greediness exists. I don't know how it is related to my post.

I have shared all that i know about trading and curious to know other's perspectives. That's all. To be more precise excited to know like minded traders, though i haven't yet met one.
 
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Scataphagos said:
Who are in the "2% club of successful traders?"

That's easy. They are the ones that don't post their trades.
More...

The 2% club are humans like you and me. So they have human emotions like you and me. So they may feel like sharing their experiences like you and me. Why they may share or what they share or how much knowledge they share is upto them. Whether to share or not is upto them. You and me cannot dictate their decisions.

Your perspective sounds like 2% club are aliens.
 
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Why are you looking to indentify them in the first place ? To religiously follow what they preach ?

Fact is they likely write the same stuff than anyone else is sharing. That’s why you can’t make the difference.

Because Pros and Amateurs share the same thing. Expect for newbies.

Have you heard of the wallstreet fools and the different grade of suckers ?

Someone can appear very knowledgeable and still fail. Someone can be really successful and sounds like a retard.

Also … We never succeed nor fail until we quit trading. Plenty made millions then lost it all.

Anyway … Don’t take a trade unless it’s part of your process.
 
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