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SUCCESSFUL V/S UNSUCCESSFUL TRADER

Successful Trader

You have effective trading plan
You have a well-formulated trading strategy for every market conditions; and most importantly, a forex journal remainding you of previous hits & misses.

You Understand Risk
You manage your risk effectively on every trade. You calculate the loss you are willing to insure on a single trade, and you make good use of the “Stop Loss”. You never over trade, even if your instincts are tempting you otherwise.

You Control Your Emotions
You never become emotional before, during or after a trade. You’ve performed your research and feel comfortable and confident enough to follow the rules – your own rules.

You Always Lock-In / Take Profits
You automatically safe-gaurd your funds as they become available, because your respect certainty over risk. You also faithfully use features like “Take-Profit” or “Trailling-Profit”.

Unsuccessful Trader

You Have No Defined Trading Strategy
You make a trading decision based on gut-feeling and keep repeating your mistakes due to lack of discipline and organized trading journal.

Your Frequently Overtrade And Get Margin Calls
You make a trading decision based on gut-feeling and keep repeating your mistakes due to lack of discipline and organized trading journal.

You Feel Down To Open Solution
Due to emotional attachment, you hold profitable trades until they turn in to losses and then unwisely wait for them to become profitable again. “Take Profit & “Trailing-Profit” are often ignored, which again leads to rash decision-making when the market takes temporary unfavorable turns.

You Are Too Emotional
Your mood is influenced by market impluse and price movements. You often jump into the market with disregard for the necessary research, and tending to lose more than your comfortable to admit.

30 Jul 2019 6:18 pm Posted by admin