4 Things Traders Must Do To Be Successful

[analyst100]

THESE 4 TRAITS WILL MAKE TRADERS SUCCESSFUL

If you have a passion for trading, Dr. Brett Steenbarger has some choice words for you: you're not going to make it. Instead, traders need to be passionate about markets. It may sound like a minor distinction, but it's not. In decades of working with billionaire hedge fund managers and traders, he's found that traders that are passionate about trading don't put in the work and trade too much.

To be successful trading, Dr. Steenbarger has learned:

1.   A rule of thumb for how traders should control losses so that they never lose more in a morning than they can make in an afternoon, more in a day than they can make in a week and more in a week than they can make in a month;

2.   Why traders should not just focus on minimizing their weaknesses, but also maximizing their strengths;

3.   A simple trading journal that will help you improve each day; and


4.   That the best traders are ones that embrace losses and use them to become better.

Author: Dr. Brett Steenbarger

Source: https://blog.topsteptrader.com/brett-steenbarger-limit-up-futures-trading
 
www.tallinex.com wants you to make money from the markets.

[harizen]

4. That the best traders are ones that embrace losses and use them to become better.

That's why I like to see new traders experienced mistakes at their first phase of being a trader because that will make them a better trader in the future. Even how serious a newbie trader in reading and studying the pointers of being a good trader so that they can't be loss, they will not truly absorbed it due to the fact that they don't know how to deal on that in the actual scene.

Anyways if people are really serious in becoming a good trader someday, just continue to do it regularly until they will be used to it. They will realized that no need to undergo a serious studies about pointers of becoming a good trader because they have the ability now to make a self analyzation about what will they do.

[onrise]

Couple of things which I have observed is that a trader should always set the goals and have the upper and lower limit of the price. If that is trigger they should exit the position and should not be greedy which can cause a huge problem. As market being very volatile it can go other way around and you make more losses if you do not exit it on right time as per your principles.

[usekevin]

THESE 4 TRAITS WILL MAKE TRADERS SUCCESSFUL

If you have a passion for trading, Dr. Brett Steenbarger has some choice words for you: you're not going to make it. Instead, traders need to be passionate about markets. It may sound like a minor distinction, but it's not. In decades of working with billionaire hedge fund managers and traders, he's found that traders that are passionate about trading don't put in the work and trade too much.

To be successful trading, Dr. Steenbarger has learned:

1.   A rule of thumb for how traders should control losses so that they never lose more in a morning than they can make in an afternoon, more in a day than they can make in a week and more in a week than they can make in a month;

2.   Why traders should not just focus on minimizing their weaknesses, but also maximizing their strengths;

3.   A simple trading journal that will help you improve each day; and


4.   That the best traders are ones that embrace losses and use them to become better.

Author: Dr. Brett Steenbarger

Source: https://blog.topsteptrader.com/brett-steenbarger-limit-up-futures-trading
 
www.tallinex.com wants you to make money from the markets.

Every traders will use their own trading principle for the bitcoin trading.And some people had separate principal for bitcoin trading and separate principal for altcoin trading.Because bitcoin and altcoin strategy is entirely different.For bitcoin , you can expect short term profit.But for altcoin ,you have to wait for a long to get some reasonable profit.

[CryptopreneurBrainboss]

Off course experience is the best teacher just as any successful trader will know success is a bad teacher. Mistake (failure) are needed for every trader to learn from. After your experience that mistake and learn from it positively you will notice your trading performance will improve. And when it comes to strategy making, it depends on the individual. Choose what suit & works for you. Just because Trader A uses strategy C and it worked for him/her doesn't mean it will work for Trader B

[DarkBullet]

1.   A rule of thumb for how traders should control losses so that they never lose more in a morning than they can make in an afternoon, more in a day than they can make in a week and more in a week than they can make in a month

This looks hard to do but makes sense if you are a day trader and you wanted to maximize your profit. Trade actively and wisely is the key to achieve this and it was quite a challenge.

2.   Why traders should not just focus on minimizing their weaknesses but also maximizing their strengths

We always have to learn from mistake all the time and instead of crying when loosing some money, we better think of a better strategy next time.

3.   A simple trading journal that will help you improve each day

This is very effective specially if you are a type of person who writes down important details from your own experience in trading.

4.   That the best traders are ones that embrace losses and use the to become better.

I believe that this one is similar to number 2

[ShadowBits]

THESE 4 TRAITS WILL MAKE TRADERS SUCCESSFUL

If you have a passion for trading, Dr. Brett Steenbarger has some choice words for you: you're not going to make it. Instead, traders need to be passionate about markets. It may sound like a minor distinction, but it's not. In decades of working with billionaire hedge fund managers and traders, he's found that traders that are passionate about trading don't put in the work and trade too much.

To be successful trading, Dr. Steenbarger has learned:

1.   A rule of thumb for how traders should control losses so that they never lose more in a morning than they can make in an afternoon, more in a day than they can make in a week and more in a week than they can make in a month;

2.   Why traders should not just focus on minimizing their weaknesses, but also maximizing their strengths;

3.   A simple trading journal that will help you improve each day; and


4.   That the best traders are ones that embrace losses and use them to become better.

Author: Dr. Brett Steenbarger

Source: https://blog.topsteptrader.com/brett-steenbarger-limit-up-futures-trading
 
www.tallinex.com wants you to make money from the markets.

Simple way of making yourself a good trader is by losing some of your trades and try to understand everything you have lost and try not to do it again in the future.

[Brawnsugar]

As a trader, you have to strive not to be constantly influenced by the emotion fear of missing out.  You have to be able sell your bag and not worry one bit if it runs higher thereafter. This is very important to being successful in trading.

[Coyster]

I definitely wouldn't make up this list without including.."Do not be greedy"

It's synonymous with traders,as one wants to make as much profit as possible and ends up investing far more than you can afford to lose, it sure has sent some traders to their graves..

Always invest the little you really can afford to lose

[steve57]

1) Good mindset
2)money management
3)develop there own trading system
4)never complicate things , use simple things it works great,
5)practice   

[naidray]

Also traders work in patterns, they tend to create new indicators because of this. They find that if a movement is made each and every single time after something they start to look for that pattern, after a while they bet on that pattern.

Basically a traders mind works in to find a fix in the system and try to make money thanks to it, either because they believe they are smart and found something others couldn't find before or they have figured out a way that other rich people are doing in a secret way and not telling the world but he found it. It doesn't matter the reason but patterns has always been a big part of trader world even before the crypto currency era started.

Of course after crypto currency era started, it spilled over here and now all of a sudden there are thousands of people who never heard what bollinger band means just couple years ago go around selling signals based on it now.

[Gembul0705]

I think the most important if to be succesfull to become a trader you must control your emotion because all the knowledge that you have been mastered  won't help you when your emotions can't be controlled.

[rickadone]

Couple of things which I have observed is that a trader should always set the goals and have the upper and lower limit of the price. If that is trigger they should exit the position and should not be greedy which can cause a huge problem. As market being very volatile it can go other way around and you make more losses if you do not exit it on right time as per your principles.

The problem with most traders that I have seen over the years is that they assume trading to be a pure gambling and they approach it that way and in such cases, there is absolutely no way they will never eventually get screwed and flop most of the time. Trading is wide and complex and you need to give your time into learning first if you want to get the best from it. Without learning and some pretty good practice, you cannot even come by with a strategy, have an idea how to control loss, not get emotional, maximize opportunities and focus on how to fine tune their strategies over time

If you have a passion for trading, Dr. Brett Steenbarger has some choice words for you: you're not going to make it. Instead, traders need to be passionate about markets. It may sound like a minor distinction, but it's not. In decades of working with billionaire hedge fund managers and traders, he's found that traders that are passionate about trading don't put in the work and trade too much.

The best trait I would say for any trader that wants to be successful is to have the keen interest to learn and never stop learning. This is a huge profession and if you manage to get the idea that it something easy which you can just hop into without some great deal of knowledge, the chances of seeing yourself get screwed will always be there. One thing with trading is that as long as you can learn well, and be dedicated to it, as well as practicing to get better, then there is no way you won't be able to put some attributes and skills into good use.

[eaglewhite80]

Normally, trading itself is not even something you should always expect 100% win, strategy is just there to guide you. I know so many people who have made the mistake of thinking that once they have the knowledge and strategy, they are already set for big wins, but it is trading, and you are only taking advantage of possible fluctuations, so you really want to put in mind that losses are also possible, but how you are able to manage them is what would determine how good you tend to do eventually.

[avarnet]

1) Good mindset
2)money management
3)develop there own trading system
4)never complicate things , use simple things it works great,
5)practice   

not only that can make our trade work well, but with patience is the key to our success because by overcoming the market conditions that are destroyed again, patience is what we will definitely use to avoid losses that will be received

[Furious 7]

1) Good mindset
2)money management
3)develop there own trading system
4)never complicate things , use simple things it works great,
5)practice   

not only that can make our trade work well, but with patience is the key to our success because by overcoming the market conditions that are destroyed again, patience is what we will definitely use to avoid losses that will be received

the biggest loss in trading is greed. that's what I felt so far. continuing trading in an emotionally unstable situation will lead to greater losses. experience will shape a better person, and trade will be a fun challenge.

[millensharon8]

1) Good mindset
2)money management
3)develop there own trading system
4)never complicate things , use simple things it works great,
5)practice   

not only that can make our trade work well, but with patience is the key to our success because by overcoming the market conditions that are destroyed again, patience is what we will definitely use to avoid losses that will be received

Sometimes, when I see the way people analyze patience when it comes to trading, I tend to wonder if they actually understand what trading means at all.

Trading is not investment that you are just holding for the long term, which in this case, you are basically taking advantage of the fluctuations, and patience is actually the last thing you want to be considering.

Have knowledge, build a strategy which includes where to buy, sell and place stop loss, and then execute it with confidence after practising for a while, and i see no way patience should even come into that equation at all.

[Mommynigabby]

THESE 4 TRAITS WILL MAKE TRADERS SUCCESSFUL

If you have a passion for trading, Dr. Brett Steenbarger has some choice words for you: you're not going to make it. Instead, traders need to be passionate about markets. It may sound like a minor distinction, but it's not. In decades of working with billionaire hedge fund managers and traders, he's found that traders that are passionate about trading don't put in the work and trade too much.

To be successful trading, Dr. Steenbarger has learned:

1.   A rule of thumb for how traders should control losses so that they never lose more in a morning than they can make in an afternoon, more in a day than they can make in a week and more in a week than they can make in a month;

2.   Why traders should not just focus on minimizing their weaknesses, but also maximizing their strengths;

3.   A simple trading journal that will help you improve each day; and


4.   That the best traders are ones that embrace losses and use them to become better.

Author: Dr. Brett Steenbarger

Source: https://blog.topsteptrader.com/brett-steenbarger-limit-up-futures-trading
 
www.tallinex.com wants you to make money from the markets.

I read somewhere that for you to be really good in trading, you have to trade with NO emotion.  I realized that this is true when I tried day trading a shitcoin. Like I couldn't care less whether I loose it all. But I keep gaining.    After a few days from 150k pieces it went up to 580K. That was awesome.    I hope I can be like that when I'm trading some token I have that are of a bit value. But honestly personally, it it hard for me.

[Iceblast]

THESE 4 TRAITS WILL MAKE TRADERS SUCCESSFUL

If you have a passion for trading, Dr. Brett Steenbarger has some choice words for you: you're not going to make it. Instead, traders need to be passionate about markets. It may sound like a minor distinction, but it's not. In decades of working with billionaire hedge fund managers and traders, he's found that traders that are passionate about trading don't put in the work and trade too much.

To be successful trading, Dr. Steenbarger has learned:

1.   A rule of thumb for how traders should control losses so that they never lose more in a morning than they can make in an afternoon, more in a day than they can make in a week and more in a week than they can make in a month;

2.   Why traders should not just focus on minimizing their weaknesses, but also maximizing their strengths;

3.   A simple trading journal that will help you improve each day; and


4.   That the best traders are ones that embrace losses and use them to become better.

Author: Dr. Brett Steenbarger

Source: https://blog.topsteptrader.com/brett-steenbarger-limit-up-futures-trading
 
www.tallinex.com wants you to make money from the markets.

trade can make motivation for many people. I see the trading trick about the loss can be used as a spirit to continue to do the best because if you give up after getting a loss I think it is not the best action for success in traders.

[Lan75]

4.   That the best traders are ones that embrace losses and use them to become better.

To be a good trader, i think he should not be afraid to commit mistake and always explore the possibility of finding an opportunity. Each one of us can commit mistake but we should make this mistake a lesson for us to grow.