Traits of a Successful Trader

did you delete some video’s?

No, there should be a total of 8 so far…links in the first post. Something gone missing?

By the way, they changed the forum so only one video can be posted per post. That’s why I have to do links.

I thought there were 2 new ones posted last night or today. Idk though i just got a back from an 18 hour str8 drive lol so I may have been a bit mixed up in the head.

Pete just about any video with “Eric Thomas” in them is good. That video you posted with him at the affiliate summit let me on a youtube journey.

Secret to Success by Eric Thomas (Full Video) Motivational Video - YouTube

Agreed, I watch a few of his each week, and the book’s amazing.

is it only an ebook? i like to have hardcopies of my books lol. building a library :D. plus i can get them cheap used lol.

No, I’m the same, only like hard copy books. This one was only available in the US, I emailed him and he enabled European Paypal, so now you can order it over his site if you have Paypal. It arrived in a week, postage was £4. The site is something like www.etinspires.com Anyway, you can find it on Google. It’s hardback only but was pretty reasonable and worth the money! I’m starting a library, too lol.

EDIT: I have corrected the link.

Thanks for this thread Petefader. It’s a “Gold Nugget” amongst some really shady stuff! :wink:

So I watched the clip Secret to Success by Eric Thomas and I get what he is saying…but reading other material on the psychology of trading…don’t we need to have a balance in life to keep us sane?

I get the impression that my success is going to be based on how much time I put in. I believe in quality and not necessarily quantity.

I mean not sleeping and just focusing on trading 24/7 isn’t going to make me successful or am I interpreting this all wrong?

Another question is: I keep on hearing…stick with your strategy even if you lose money (because we all lose money) At what stage do you need to go back and look at your strategy?

Keep in mind these questions are coming from a person still learning with a lot of info jumbling around and some of it is conflicting. :slight_smile:

[QUOTE=“Miles;486984”]Thanks for this thread Petefader. It’s a “Gold Nugget” amongst some really shady stuff! :wink:

So I watched the clip Secret to Success by Eric Thomas and I get what he is saying…but reading other material on the psychology of trading…don’t we need to have a balance in life to keep us sane?

I get the impression that my success is going to be based on how much time I put in. I believe in quality and not necessarily quantity.

I mean not sleeping and just focusing on trading 24/7 isn’t going to make me successful or am I interpreting this all wrong?

Another question is: I keep on hearing…stick with your strategy even if you lose money (because we all lose money) At what stage do you need to go back and look at your strategy?

Keep in mind these questions are coming from a person still learning with a lot of info jumbling around and some of it is conflicting. :)[/QUOTE]

Lots of good questions. My opinions incoming…

You need chart time. Go into the markets with a purpose study takes notes record yourself interacting with the market. Make a study plan like I’m going to look at this today say the London close or Asian session. See what happens how it reacts.

Focus in trading at all times. If you read a book read about trading, if you watch a movie watch one about trading. Find friends who trade. Keep it in the back of your mind.

Of course you need a break every once in awhile but when you take a break don’t lose focus on your goal or determination to pursue your goal.

Also keep your mind and body healthy exercise don’t stress out.

And if say if a strategy isn’t working for 3 months its probably time to refine it. It may just be one little minor thing like moving your stop loss 5 pips. Doesn’t mean you have to start from scratch.

Thanks IyaJenkei

Will keep all this in mind.

Shoot! On second thoughts…does that mean I can’t go see the new Startrek movie? :31:

There are also a couple of other things I like doing and Forex is no where near any thought in my mind… Does this mean I am doomed before I have really gotten started? :eek:

You mention finding friends that trade. Do you mean on a forum like this or people in my neighborhood, cause I tell you, when I mention my interest in forex… I get that look… like…are you CRAZY??

[QUOTE=“Miles;487009”]Thanks IyaJenkei

Will keep all this in mind.

Shoot! On second thoughts…does that mean I can’t go see the new Startrek movie? :31:

There are also a couple of other things I like doing and Forex is no where near any thought in my mind… Does this mean I am doomed before I have really gotten started? :eek:

You mention finding friends that trade. Do you mean on a forum like this or people in my neighborhood, cause I tell you, when I mention my interest in forex… I get that look… like…are you CRAZY??[/QUOTE]

No you aren’t doomed. I didn’t mean you can’t do anything but forex but it needs to be a passion. A hobby that you love and can’t get enough of. And as for finding people yea this forum. Not necessarily people who trade but friends who are successful and that will motivate you maybe a girlfriend or spouse to keep your mind on task. Success comes in many forms btw. That stuff rubs off.

A hobby that you love and can’t get enough of… that definitely puts it into perspective for me :57:

Looking at the material in here so far, I can see how one can go a little overboard thinking “If I eat, sleep, breathe and sht Forex I will make it, other wise I will fail” This is not good lol.

Don’t miss out on the good things you have in your life NOW. Try to have balance. Living every hour for something that may or may not come in the future is a mistake. And when you finally have the millions or whatever you’re aiming for…you might find it very empty. Being a winner in FX is one aspect of your life. Balance.

24/5…reading news, forums, talking to other traders and the left 2 days should be enough to reboot you for the coming week. FX is a way of life and there are no successful traders whose trading is just a hobby for them. If you’re gonna do something ,go for perfection or nothing at all.

24/5 - seems excessive to me. Im by no means a full time trader but Im pretty sure doing it 24/5 is not the answer. As cliche as it sounds its psychology and consistency that all the successful traders seem to have in common when reading interviews in three market wizards books.

Yep, the more time one can put in the better. Treating it like a hobby aint gonna cut it. How much time is a choice everyone needs to make for themselves, but it should be a conscious choice, and they should be aware of the sacrifices they are making or not making.

IMO “news” is a waste of time (not sure what news you’re referring to, maybe u trade based on fundies, I don’t).

Forums…don’t get sucked in to the BS or get overloaded with opinions and doubt yourself. Take the good, leave the rest.

Talking to other traders, sure that’s good but don’t go following them like a sheep.

For me, I took information from so many different sources over the years to find my way. Btw, I don’t mean to sound like a know it all. Just sharing opinions.

I agree with you on the statement of having a balance life. I have said this too before…

Though, there are some exceptions specially if you are still learning how to trade or any business and career that you want to focus on that you will need to spend most of your time to learn things on “how to” or finding your way and get use to it. Anything excessive or too much is not good anyway…

Always find something to do that it will help you to grow as a person either a hobby or something that you wanted to cross out in your bucket list… Skydiving anyone??..:wink:

100% agreed.

Which one? Skydiving? I dare you…lol

It’s so true that doing something you’re afraid of makes you grow as a person. You feel better in your own skin after that. An “ideal” life includes doing something you are afraid of on a regular basis. Skydiving OMG, maybe I’ll get there. I do have some things lined up in the near future that may cause nausea lol.