What makes a successful trader? What do you think are the characteristics that make a good trader?
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A trader is as successful as the strategy they use. The real achievement is in running the strategy effectively and consistently.
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There are 3 pillars to trading.
Mind
Method
Money management
You need to master these to be successful.
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I think it is the strong desire to be the best trader of the world.
Successful traders are those who can’t stand without winning.
Traders always challenges the risk and experiences losing and emotional pressure, so you should be mentally strong and at the same time should be very flexible.
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Patience, struggling tendency and the quality of learning from mistakes make a trader successful.
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I think the biggest shift is having the capital needed to make it successful.
If you only have £1000 capital and make £10 a day you will keep making risks as £10 is literally gonna be spent that evening on a takeaway
But if you have £20000 and make £200 a day you will take less risks and less trades and start banking profit
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Big mistaken attitudes to money, profits and trading here.
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lol, that’s even putting it mildly/tactfully
words just can’t describe how misguided all that is
this one’s a bot anyway (only one, so far, in this thread - which is unusual)
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My thoughts on what makes a successful trader are.
Understand economics of external factors that drive the buyers and sellers.
Trade less rather than more.
Learn strategies taught by successful institutional traders use with real industry experience.
Have excellent risk management plan.
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LUCK! That’s what I’m going with…
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i think anyone can write a new answer here
but in my opinion, the answer is to be always ready to learn
you shouldn’t think you are complete and always be ready to learn new things from new people
also how you react is really important
if you fail and you do not accept the responsibility for your loss, then you will not get better and you will definitely fail again
once you accept you make a mistake, you need to correct it by checking it completely
what was your mistake? why? how to avoid? how to control yourself?
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Understanding profitability, you should be able to target 150-200%pa returns using standard assets (Forex, Futures, Stocks) being an individual trader and investor (managing your own money), due to many factors most will be able to achieve 15-20%pa return on capital, this is the same as hedge funds (other people managing your money). Even if you could achieve the full target you may not want to, ability to recover losses easier, burst profits or sitting out market volatility, investing for friends and family lowering expectations (give people what they expect), timing the markets to create the same profits in 1mth that would take anyone else 1yr.
Be patient, keep learning, control your emotions, find your optimal strategy, and always set stop losses on big trades.
Successful traders are disciplined and patient, with a keen focus on risk management and continuous learning. They possess strong analytical skills, resilience to withstand market volatility, and the decisiveness to act swiftly and objectively.
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Luck is your chosen approach.
trading is combination of skill, research, analysis, and strategy. While luck may play a role in the short term, successful trading typically requires a well-thought-out approach and risk management.
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Success in trading often boils down to a mix of patience, a well-thought-out strategy, and, let’s be honest, a sprinkle of luck.
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Perseverance and patience are the characteristics that make traders successful. Successful traders have a well-defined strategy of trading and it really works on point.
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Luck is responsible to some extent it’s true but our mistake is that we directly blame our luck without applying our skill.
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Couldn’t agree more! In addition to what you mentioned, I’d say adaptability and continuous learning are also key. Markets evolve and so must our strategies!
You are right, but you spoke too soon!
The balance is now shifting in the direction of the bots.
As it will, here, eventually, in almost any thread that goes on for long enough.
Somehow comical and sickening at the same time? 
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