What do you think makes a trader, yeah I know discipline, and all the trading mindsets, but all in all I think it takes guts bar none. To be able to accept losing money, to be able to stay with a trade long enough even though the market will try and scare you out of it. Lastly to be able tostay with your system even though it is in a losing period (I know you should adapt your system to market environment, but many successful traders don’t.). Anyways that’s just my opinion. I’m looking for one trait answers, so try and narrow it down if you have many or a few. The only reason I ask is to see how others view the market. Through these different perceptions I hope to learn something. So please many posts, I don’t care if it’s one word, and if your answers conflict who cares, even better. This seems like a tough one though because usually the first post is saying that you can’t narrow it down. Well hopefully this works, best to all reading this.
Experience!
The quote I cited in my blog this week comes to mind. Courage!
“Courage is not the absence of fear, but it’s moving forward in spite of your fear.”
~Eric Alexander
dont let your emtional run thru u and dont take revenge at the market. be a cold machine when u trade.
have a plan and stick to it!
[B][U]Patience[/U][/B], [B][U]Perseverance[/U][/B] ,complete [B][U]discipline[/U][/B] and continual [B][U]education[/U][/B] !!!
Eh thanks to all, input is much appreciated, hope I get more responses!
OK, 143 views and only 5 answers. Guess I gotta give a little to get a little. Anyways whoever answers will get reps, and believe me it is tough to get them (for me anyways). So post pleaase, I’m down on my knees prayin here. At least throw me a bone!
P.S. - those who already posted got reps so don’t think I skimped out on ya.
Best to all!
not sure what a rep is but i think i want it…
i am new-started in mid jan so as a fairly new trader I would say determination. As exciting as it is for me, there’s so much to learn. I see a lot of posts and i am like “ok, I gotta learn that and that and let me go back to review that and that…” For instance, I am still struggling with the concepts of leverage and lots…I really thought i had these concepts the other day but i realized i didn’t :(actually anyone know where i can get more examples on leverage that might help???) Also, the overwhelmingness to learn the fundamentals is probably my biggest hurdle…
Anyway, I don’t want to give up. I DO want to learn this and do well.
I know eventually it will all sink in but to get there on some of these tougher concepts, in my opinion, i need determination.
p.s. I just want to say i am very thankful to this site (forum and the school especially). I definitely feel like i have come a long way already.
[B][/B]
Shadow:
Develop your own system - take a few months to do so and
trade it consistently with the rules you have formulated for
it. Rules usually include a person’s own emotional makeup. It is
for this reason, among others, that sticking to them is very
important.
Choose one currency pair, get a feel for the movements/personality of that
currency. This simplifies your focus.
Use low leverage ie 1:1 or 2:1 until you have confidence in the
system you have established and see that, by applying its rules, you are
consistently earning profits. It is widely thought that high leveraging
is the number one cause for wiping out accounts - failure.
Every day when I go to the trading platform, the first thing
I tell myself is that I don’t need to trade. As one successful
trader likes to say: "trading opportunities are like buses,
there will be another along soon. Wait it out. Don’t be anxious,
in a hurry, sidetracked, or in doubt. Give yourself space which
means that you don’t want distractions while you trade. If you
stick to this thinking, you will find that the trades you make are
quality, not quantity, related. You will also see more winners and
consistent profit.
To me its Success. The rest of us are WANNABES
the trader that day after day trades there plan, (you do have a plan dont you) is a trader in my book.
Even if there are losses that trader dosnt up and run to the next method but stick to what they have backtested and used.
One of the worse things about forex is forums, its also a great thing. but to many find hundereds of strats and never settle on one they bounce from here to there.
Many methods where only inventer so someone could have there name in lights anyway.
JMHO
Yep. My quote for this week is about that. Comes from a refrigerator magnet, of all places.
“Good judgment comes from experience. And a lot of that comes from bad judgment.”
Guess that’s why I’m still demo trading. lol
One of the best quotes I’ve seen in a long time
Enough starting capital to handle the drawdowns!
I would say determination.
Detemine to save money in what ever way you could to build up your capital. ( I am still trying to save enough money to open a mini account 
)
Determine to find other source of education to increase my knowledge.
( which I feel lucky to have found babypips.com !! )
Determine to stay up at night to watch the market till 3 a.m. ( even I am just using demo account )
Never Quit !!! 
Regards,
BabyTrader
Experience.
I have traded many varied instruments over the years, but I am new to the FX format. (I’m still not completely sure it’s all legit.) There are similarities in all markets, but experience teaches you how to profit from them. I have witnessed many new traders that begin well, but are distracted by success and do not continue to learn. I have seen new traders fail miserably and quit, having learned nothing about the markets or themselves.
Some observations:
An experienced trader has the guts to follow his system because he has back tested it and proven it in real time.
An experienced trader is emotionless in execution because he is confident in his trading plan and trade management skill.
An experienced trader has proven his determination by educating himself about the market he trades and the system he employs.
An experienced trader has patience to wait for a signal and allow the trade to develop.
An experienced trader has the patience and determination to endure during the inevitable drawdowns.
An experienced trader remains humble when he trades successfully and profitably.
If you are new to FX, learn from other experienced FX traders on this site. If you are new to trading, you can learn as much about yourself as you can about the markets by applying yourself to the study of trading.
Shadow, Thanks for posting and helping me think about this in a different way.
Lots of funds for capital and the will to invest (waste) a lot of time learning about the market.