Successful traders have acquired certain skills and habits that they have finely adapted and tuned to their interactions with the*unique environment of the market. Why do some forex traders succeed and others fail, what sets the winners apart from the losers?
That’s a big question Rambo and could run this thread into a few hundred pages?
I guess the basics would be 1. Finding a successful strategy that fits your style of trading. 2. Actually applying that strategy i.e. the discipline required to mechanically execute it. 3. The fortitude to pull the trigger on the next set up in times of draw down. 4. Perhaps the most important, strict application of money management.
Right, but…[B]wrong[/B].
Rambo35’s post is all about pointing to an article in an another url, most possibly for collecting pageviews
The same thing that separates all winners and losers. Winners never give up. They constantly learn, they keep trying. I watch this program on the weekend on cnbc How I made my millions. They all have the one over riding characteristic they never give up. One guy went broke, slept in his car and kept working at it until he made his millions. Losers always cry why, why why me. . . winners always say shout why, why, why not me.
It boils down to intricate things like personality, external vs internal attribution and the ability to handle failure/success. That’s why if you gave a successful strategy to two different ‘traders’,the results can be vastly different.
setting aside that there was a url in the post! what separates winners from losers is mostly winners dont give up, and there is that little luck they have ad the capacity to absorb knowlege and the will to carry one and the right amount of money and yeah i guess this will take a lot just to explain every thing.