tips for become a good trader?

[NeilKruger]

the difference between good or general trader is all about trading habit , nothing without it . so we the traders should develop our trading habit first of all , otherwise trading life could be a worst part.

 

[Zafar Al Asad]

yes habit is everything in real as well trading life. so we the traders need to develop our good habit.

 

[Henry520]

My recommendation:

1. Learn to use a backtesting platform.
2. Develop a trading model that is robust, with logical trading rules on when to enter, exit and take stop losses on your trades.
3. Trade the system religiously for 1 year straight, following your rules on every trade.
4. Keep a journal documenting how well you are following your system.
5. Keep backtesting other ideas and refining your current system as new information becomes available to you.
6. Judge your success not by making money. Judge your success by how you handle losing trades and your ability to stick to your trading system.

If you can do the above for a year straight, you may have a shot at becoming successful at this.

thanks for your nice post , got some fine line.

 

[tomCooper]

i want to be a good trader but this is challenging , because market is soo volatile to predict the real faction.

 

[kroxobor]

the difference between good or general trader is all about trading habit , nothing without it . so we the traders should develop our trading habit first of all , otherwise trading life could be a worst part.

What do you mean by trading habit? Discipline or trading plan? I think both matter and complement each other

 

[Ahmed Solaiman]

discipline is everything in real as well as practical life. so we the traders should focus on this first of all.

 

[NeilKruger]

to maintain trading discipline as a beginner that is really difficult due to low trading knowledge and experience, but without it there is no way to survive in this market place.

 

[Courtney21]

Discipline and determination are the best traits for a trader in this volatile market.

 

[murray t turtle]

Discipline and determination are the best traits for a trader in this volatile market.

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Good D+D\ + dont be afraid of drawdowns / in upTrending bull market
But when benchmark like SPY is in polar bear trend\[d] dont trade much too time on long side\ or much size.
Jack Schwager top trader interviews are real helpful\
especially IBD founder.
Looks like, because if IBD Newspaper\ WSJ finally after all these years\ put a200dma on thier52 week charts.....................

 

[Laoise#886]

Experience and practice can help one become successful in the market. The more time you devote to learning and practising, the better your results will be.