what makes a good trader?

[HistoLock]

Yeah, one of the most important thing in trading is technical analysis but also fundamental analysis is very important.

But what that is most important is money management and the ability to overcome emotions. These two later things are very important and it can help in helping someone to later make money from trading.

But it is still very important that trading should be considered as something that is very risky. Do it with the amount of money that you can afford to lose. It is not gambling but it is very similar to gambling.

I think analyzing the market is the most important thing to do when trading. If someone does not know the market well, then he should not trade, he will always lose money. The characteristic of a good trader is that he knows how to analyze it well, and can control his emotions. Trading is basically a special way of making money from which you can earn a lot of money. If you want to trade, you have to do it with a small amount of money, which you can lose. To do this, you have to gain a lot of knowledge about it and control yourself. Then you can become a successful trader.

[cryptoaddictchie]

You must have all three to trade successfully and they're written in order of importance.
You must also learn each aspect in the order I have written them. You can be a master of trading psychology or money management, but if you don't have a technical edge you won't make money.
95% of retail traders never overcome step 1, this is why so many fail.

Well even some got this they are still got screwed on trading cause its not always guaranteed that we will get some off a good results for example our trading analysis is good but the patience and psychology is saying something then theres not actually a good result. These elements need to synchronised for that Id agreed. But let me just remind that its not totally a proof fool strategy to overcome losses at some point.

[Mpamaegbu]

You must have all three to trade successfully and they're written in order of importance.
You must also learn each aspect in the order I have written them. You can be a master of trading psychology or money management, but if you don't have a technical edge you won't make money.
95% of retail traders never overcome step 1, this is why so many fail.

Overally, first off, what makes a good trader is profitability. It doesn't matter if one has acquired all the skills that you listed there or not. Win rate is the only thing that can prove that one is successful or not, not a mere understanding of those terminologies.

While I acknowledge that the three items you mentioned – TA, MM and Psychology, are of high necessity to achieving wins in trading, trading psychology or emotional control should come first.

Trading will test your patience. If you don't have the ability to overcome the necessary emotional control you're bound to make errors. Sometimes, traders have their technical analysis and Money Management techniques right but still end up not being profitable. The reason is because they're yet to get a firm grip on their trading emotion. Without a control of this, trading will always be done in panic. It's bad.

[SATWAT]

I think analyzing the market is the most important thing to do when trading. If someone does not know the market well, then he should not trade, he will always lose money. The characteristic of a good trader is that he knows how to analyze it well, and can control his emotions. Trading is basically a special way of making money from which you can earn a lot of money. If you want to trade, you have to do it with a small amount of money, which you can lose. To do this, you have to gain a lot of knowledge about it and control yourself. Then you can become a successful trader.

Trading has never been easy job because its need good workout from trader if someone have good knowledge with also able to do analyst surely he can achieve good results because if you have no knowledge and also not capable of doing things which are helpful always create chaos.
Trading is having risk which is never been easy to recover always keep himself involved in things which you feel will work for you because without having good preparation trading never give better results emotions are also important peoples those are not able to handle stress they have always gone on wrong side.
Trading never stays on same level profit and lost always stays on level if you are not had enough funds this is still ok but if you are not able to handle things on balance surely these are not good.

[Free Market Capitalist]

I would wager that among all those who have commented on the thread, the net result of their trades is losses.

One thing I've known is that, to be successful in trading, you have to be smart in all round anything that has to do with that line of problem, trading is exactly trying to take money away from highly smart people who are also trying to take money away from you, this is why trading is so hard for most, especially those who are not smart.

Being smart as a trading involved alot of things which I believe those three attributes you mentioned that makes a good trader are also part of, but in all, being patient with learning is very important, and if possible, don't depend or base your learning from online alone, find a physical mentor, someone that is very good and has also succeeded as a trader to also learn from physically, this is very important.

i was about to merit you , but sadly my balance of merits is at 0 right now, because you advice is pure GOLD.
walking intro trading with the mindset that you're going to war gives you a massive edge - it sharpens your patience, make you alert, and pushes you to calculate every move before making a single decision.

The fact that you, as the OP, would post such a generic message shows that you have little to do with being a profitable trader. You have created an OP by gathering information about it on the internet, but if you were a profitable trader, you would not be wasting your time on the forum with these things.

[bangjoe]

You must have all three to trade successfully and they're written in order of importance.
You must also learn each aspect in the order I have written them. You can be a master of trading psychology or money management, but if you don't have a technical edge you won't make money.
95% of retail traders never overcome step 1, this is why so many fail.

Overally, first off, what makes a good trader is profitability. It doesn't matter if one has acquired all the skills that you listed there or not. Win rate is the only thing that can prove that one is successful or not, not a mere understanding of those terminologies.

While I acknowledge that the three items you mentioned – TA, MM and Psychology, are of high necessity to achieving wins in trading, trading psychology or emotional control should come first.

Trading will test your patience. If you don't have the ability to overcome the necessary emotional control you're bound to make errors. Sometimes, traders have their technical analysis and Money Management techniques right but still end up not being profitable. The reason is because they're yet to get a firm grip on their trading emotion. Without a control of this, trading will always be done in panic. It's bad.

I agree that anyone can easily understand any theory and memorize it quickly, such as learning analysis techniques, designing strategies, and conducting trade planning in just three months or be very fast. However, that does not mean that person will become a good trader who can consistently make a profit or earn more profit than their losses.

The most challenging aspects of trading are patience and mental resilience, which require long-term cultivation. As I mentioned in my previous post on this forum, emotions such as greed, anger, frustration, panic, and others can significantly influence decision-making and often lead to serious issues.

I would only suggest that if your mindset is not yet well-formed, and if you cannot manage your finances, never become a scalper or a day trader. It will be mentally draining, and honestly, you don’t have to trade every day to be a good trader. 

[Awaklara]

I would only suggest that if your mindset is not yet well-formed, and if you cannot manage your finances, never become a scalper or a day trader. It will be mentally draining, and honestly, you don’t have to trade every day to be a good trader. 

Financial management is indeed very important for traders, especially for those who want to trade daily. Trading clearly drains our mental energy and focus. Trading every day may place a different kind of pressure on traders who are not used to it.
To be a good trader, it is not necessary to trade every day. We do not need to show anything to others. We must know the right time to trade or to rest. Some beginners sometimes get too excited and forget to take breaks. They may not realize that when we are tired, we can sometimes overlook simple details that can lead to losses.

[TheUltraElite]

I still think that the psychology is the most important in trading. If your nerves are of steel (which takes time to develop) you will learn money management and analysis eventually.

Many traders lose out because they start with loans and are in a hurry to make that debt back. That is the wrong way to start. Always start with your own capital and work on that. But not doing so, you increase your own mental stress and that eventually leads to problems.

There are people who have that psyche inherently, but it can be learnt.

[Natalim]

You must have all three to trade successfully and they're written in order of importance.
You must also learn each aspect in the order I have written them. You can be a master of trading psychology or money management, but if you don't have a technical edge you won't make money.
95% of retail traders never overcome step 1, this is why so many fail.

Well even some got this they are still got screwed on trading cause its not always guaranteed that we will get some off a good results for example our trading analysis is good but the patience and psychology is saying something then theres not actually a good result. These elements need to synchronised for that Id agreed. But let me just remind that its not totally a proof fool strategy to overcome losses at some point.

In reality, no one makes a perfect trade, or probably a perfect trader. Each trader has certain lapses, and that leads to lose at some point, especially that trading itself is actually prone to losing because of its high risk. However, if you know well what you’re doing, if you trade with caution, you will prevent yourself from losing too much, while you are trying to improve your performance so you will end up having profitable gains.

Trading is hard, that’s actually true, but that does not justify that everyone will lose. Those losses are inevitable, but they can always be minimized by a good and skillful trader.

[HistoLock]

I guess you are the type that likes to play with colours.. well you gave some good points and I'll appluad you on that.. most times a lot of new traders fails to see the reason why they keep losing and at some point even think of giving up their trading career.. first thing first, get a good knowledge about trading.. get a mentor and stick to a good risk management plan. The market has countless number of trade so avoid chasing trades that are not worth the risk... Yes we have a lot of educational information and videos online especially on YouTube, you can learn the best ones and try to stick to one strategy at a time...

Yes you have made many important comments which make me think. There are many people who do trading but do not have a good idea about it if they do not have a good idea then gradually they will lose money and they will stop doing it. But if he had started it with good analysis and knowledge about it then surely he could have made good money here. I think it is very important to analyze why he is failing. If he is not aware of the risks then he will lose money so I would say it is good to follow the points that you have highlighted. Nowadays it is possible to learn a lot of things online and you can also learn about trading from there if you want. I have gained a lot of experience by taking online classes about this and have made money from trading.

[Pandu Geddon]

I have gained a lot of experience by taking online classes about this and have made money from trading.

It would indeed be better if you could attend the available trading classes. This is different from a group that only provides trading signals. There, you can acquire materials to learn trading, you might also get them from other sources. However, if you have joined a trading class, you may have a mentor who can guide you and share trading experiences with you.
You have already succeeded in making money from trading, which is great, and I hope you can remain consistent.

[Ricardo11]

I have gained a lot of experience by taking online classes about this and have made money from trading.

It would indeed be better if you could attend the available trading classes. This is different from a group that only provides trading signals. There, you can acquire materials to learn trading, you might also get them from other sources. However, if you have joined a trading class, you may have a mentor who can guide you and share trading experiences with you.
You have already succeeded in making money from trading, which is great, and I hope you can remain consistent.

Yes, it is true that there are many good trading classes from which a new trader can gain good knowledge, but what we usually see is that all such trading signal groups are basically fake, whose main purpose is to attract you to them in any way and make you trade with them, where if you lose money, they will continue to profit, although not all trading groups are like this, but you must be careful in determining them because most of the groups are actually fake. Moreover, no one can ever become skilled by just following trading signals, to gain skill, you have to trade according to your own research, and for this you have to work hard and learn trading with patience for a long time.

[Questat]

I bet anyone can be a good trader, despite of those inevitable losses. But the real challenge here is that if these traders can be reliable and sustainable enough, knowing trading in the market has always uncertain outcomes. However, a good trader does not just trade simply for profits alone, but it’s more on they trade because they want to increase their potentials in trading and develop positive attitudes towards successful trading.

[bitgolden]

A calm mind would do a lot better than everything else, if you can do that then you are going to beat everyone. Not many people can do this, so it would make sense for us to just stay steady and not make silly moves because it would not allow us to get better results if we panic.

Most people make that panic move and because of that they end up with mistakes. If you are calm and collected, and act like a machine, without emotions, then you are going to end up with a lot more returns and a lot better money making. Too bad that not everyone can do that, so it is becoming a thing where we need to be realizing how our emotions are ruining our trading and the way we control our money, so we could be doing a better job for sure.

[dunfida]

You must have all three to trade successfully and they're written in order of importance.
You must also learn each aspect in the order I have written them. You can be a master of trading psychology or money management, but if you don't have a technical edge you won't make money.
95% of retail traders never overcome step 1, this is why so many fail.

Overally, first off, what makes a good trader is profitability. It doesn't matter if one has acquired all the skills that you listed there or not. Win rate is the only thing that can prove that one is successful or not, not a mere understanding of those terminologies.

While I acknowledge that the three items you mentioned – TA, MM and Psychology, are of high necessity to achieving wins in trading, trading psychology or emotional control should come first.

Trading will test your patience. If you don't have the ability to overcome the necessary emotional control you're bound to make errors. Sometimes, traders have their technical analysis and Money Management techniques right but still end up not being profitable. The reason is because they're yet to get a firm grip on their trading emotion. Without a control of this, trading will always be done in panic. It's bad.

I agree that anyone can easily understand any theory and memorize it quickly, such as learning analysis techniques, designing strategies, and conducting trade planning in just three months or be very fast. However, that does not mean that person will become a good trader who can consistently make a profit or earn more profit than their losses.

The most challenging aspects of trading are patience and mental resilience, which require long-term cultivation. As I mentioned in my previous post on this forum, emotions such as greed, anger, frustration, panic, and others can significantly influence decision-making and often lead to serious issues.

I would only suggest that if your mindset is not yet well-formed, and if you cannot manage your finances, never become a scalper or a day trader. It will be mentally draining, and honestly, you don’t have to trade every day to be a good trader. 

When we are hovering into something specially when dealing up with doing trading then you are that prone or to subject with those mistakes on which it would be just that very common thing that we would be that doing. On the time that we've been dealing up with trading then you should be that sensible into the things that you must do, because on the time or moment that you wont be having those kind of approach and doing then you would be finding yourself that being impulsive. Being a good trader would be just that simply basically means that someone whose that be able to sustain out your trades despite of the loses made out. We've been dealing up with a speculative market on which there's no always having that guarantee that we can be able to succeed out. There are just that those moments that you've been that become that too eager or positive.

Always that learn up with the mistakes that you do able to encounter and as much as possible then you should be that lessening it out to have that kind of highly impulsive thing because if you are that being too emotional then you are that bound on having some issues when it comes to decision making because it would be that influenced by emotions on which we know that its not something recommended.
Being a trader which basically means that you do need up to be careful and be that wary at least on what are the adjustments that needed up to be done.

[TheUltraElite]

I bet anyone can be a good trader, despite of those inevitable losses. But the real challenge here is that if these traders can be reliable and sustainable enough, knowing trading in the market has always uncertain outcomes.

The thing with good traders is that they can work with the market and not fight against it. Suppose the market is falling, the trader will buy at the low and if the market is rising the trader will sell at a profit.

This seems normal but is difficult to execute in reality because the common sense goes haywire when markets go up or down.

Then there are those fight against it. Sell when its dropping ending up in a loss. All this is in context to bitcoin and not altcoins.

[Franctoshi]

Yeah, one of the most important thing in trading is technical analysis but also fundamental analysis is very important.

But what that is most important is money management and the ability to overcome emotions. These two later things are very important and it can help in helping someone to later make money from trading.

But it is still very important that trading should be considered as something that is very risky. Do it with the amount of money that you can afford to lose. It is not gambling but it is very similar to gambling.

The market is highly manipulative by smart money, Trading is where big money trades against dump money.

The market will most of the time test your emotions by the market markers (smart money). They are the one who controls and decide the direction of the market through liquidity flow, and to win this game, A trader must be patient, manage risk and have emotional control and apply psychology. The game is to take you out, and take your money while still go in that your direction, this is 90% of the time, the will first go against you the moment you place your trade, this aimed at driving you out by putting into emotions first especially when you're using a high leverage.

[Wakate]

Yeah, one of the most important thing in trading is technical analysis but also fundamental analysis is very important.

But what that is most important is money management and the ability to overcome emotions. These two later things are very important and it can help in helping someone to later make money from trading.

But it is still very important that trading should be considered as something that is very risky. Do it with the amount of money that you can afford to lose. It is not gambling but it is very similar to gambling.

The market is highly manipulative by smart money, Trading is where big money trades against dump

The market is fucking manipulative and we ought to understand how smart money move their trades so we don't end up losing more from the market. I do tell people especially traders to be very smart so they don't end up losing more when they trade it trade against the market trend.

Trend is one thing I don't joke with because of how it can make us a lot of money. Although I know that traders that trade against the market trend also have their own techniques but I don't think it's could be more sophisticated than trend trades.

[harapan]

With all of those factors that you've mentioned. A real good trader can be seen through the results of his trades.

Exactly that defines the whole situation about being a good trader,so if your trade births good results then you're privileged to be called a good trader and as well a good trader knows his onions on how to manage the risks taken over money management and they set reasonable targets to achieve a profitable results.