What Great Traders Are Like?
Which trader does not want to be a great forex trader? Nothing seems. Every forex trader certainly wants to get maximum results. Nobody wants to end on the verge of collapse because the capital is consumed by market turmoil.
But do you know, what a great forex trader likes? Does he always benefit from every transaction he runs? Never lose? Or those who can double profits to hundreds of percent per month? Traders who know tens or hundreds of trading theories?
Maybe you will be surprised that actually a great trader does not need to meet the above criteria. Nothing – I affirm: nothing! – A great forex trader who has never experienced a loss. There may be traders who can earn up to one hundred percent (or more) a month, but that doesn’t happen every month. Such things – if not impossible – are very rare in the world of forex trading.
Maybe you’ve met someone who is very charming to explain his theories about trade. You might even think, “Oh, he’s really a great trader”. In fact, even a great forex trader usually only uses 1 to 2 strategies.
So, what do forex traders look like?
Have a Trading Plan and Discipline
Great traders are traders who have careful planning, gradually they consistently carry out trading strategies. He will not make decisions without following a trading plan. Great traders are traders who understand the meaning of “plan your trade, trade your plans.”
With regard to trading plans, wholesalers are also people who have made trading systems. A trading system that can cut any losses according to the rules that he made himself. As for those who always postpone doing a risk-loss strategy just because they hope the market will turn around.
Great traders are traders who are “longevity”. The trading account has a long life because equity is always increasing.
There is no point in being able to score fantastic profits but only last a month or two, but then it is only colored by gloom due to extraordinary losses, especially if it ends up in your capital. Great traders are traders who are able to increase their equity consistently even though the additions that occur don’t reach fantastic numbers. The ability to book a profit even though it is “only” 10-20% per month – maybe even just 5% per month – as long as it’s consistent and long-lasting, it’s enough to make a trader bear a great title.
Important Theory, But More Important Practices
Great traders don’t need to insist on memorizing or studying hundreds of trading theories. Great traders are able to make profits that are consistent with one or two trading systems that they have and really master. They may not understand about Elliot Wave Theory, do not understand what is intermarket analysis , or have never heard of increasingly developed and sophisticated trading theories, but the results of their trading profits are so real. That’s because they feel they have enough to understand one or two simple tricks, but diligently and patiently practice it until they really master it. In turn, profits come to them.
There is no harm in trying to print as much profit as possible. The wholesaler is judged by how he gets a profit, not from how much profit he gets.
May be enlightened. Hopefully we can become a great forex trader.