Successful people in trading: who are they?
Few are successful in Forex. Even a small stable plus, equal to the median salary, is not that common. This sad statistic is known to all participants in the forex market, although not everyone believes in it.
Successful people in trading: who are they? In part, the high percentage of leaked accounts is due to the fact that many random people come to Forex who just happened to be looking for easy money. But there are also quite a few of those who really study, try, study one book after another, but cannot achieve a result.
Sometimes it seems to some that the foreign exchange market is actually a roulette wheel and that there is no pattern to its movements. In a series of failures, it is time to believe it, but what about the famous traders, investors and analysts of our time, who win consistently and well? There is no escaping this fact.
So who are these people? What is special about them? Perhaps a very high IQ? But, as practice shows, a variety of personalities achieve success, and the mind does not matter much here. Higher education? Interestingly, and contrary to opinions, it does not play an important role. If you look at the biographies of famous merchants of the 20th century, you will notice that about 20-30% of them at the same time received the education of a financier. But they all made money, for the most part, on the stock market. What does it take to be successful in Forex? …
Character features of successful traders
Perhaps the answer seems trite to you, but … successful traders have the same qualities that are inherent in businessmen who have achieved everything they wanted. For careerists who managed to reach unrealistic heights when their colleagues remained in the early stages. People who found the strength to work for themselves and were able to develop their activities in a way that would bring them a decent stable income.
These people can positively manifest themselves not only at work, but also in organizational, social activities, in family and personal life. Brick by brick, they build their reality while everyone else relaxes. Others prefer to cling to a painfully annoying stability, simply because they are afraid of change or do not want to do something for them. After all, as a rule, you need to do a lot and at once, or a little, but every day. So it turns out that someone is lazy, afraid and finally stands still, while someone moves forward.
Successful people in trading: who are they? Those who are simply interested in the forex market differ little from the majority. Those who come here, firstly, do not experience panic, fear of risk, and secondly, are willing to invest money. But still, a large part of the Forex crowd is gambling people. They withdraw very quickly. There remain those who are willing to take responsibility for their lives, their salaries, their money.Successful people in business: who are they? two
A large number of these responsible people are already eliminated in the early stages of the trade. Simply because good personality traits alone are not enough. Half of traders are instantly lazy. Haste goes hand in hand with it: I want to trade now, there is no time to study. And I do not want. And so the new “specialist”, having studied, at best, a superficially basic course (and at worst, a couple of pointers), gets to work. He will soon leave Forex, because such an approach promises nothing more than losing money.
This means that the next quality a trader must have is the ability to learn, learn and apply new information. In this case, hard work means that he can learn and practice every day on charts, including real ones. Instead of a demo, it is better to use microaccounts for this; many brokers can start with $1 investment.
Also, from those who already have a baggage of knowledge, emotional traders are eliminated. If you don’t consider yourself that way, wait until the first ten offers. Units do not exhibit states of euphoria or panic. The rest remember the hours spent in front of the computer, sometimes with surprise and horror. There are no guarantees that you will not have such a situation. Emotions sweep half of the remaining traders out of the market. Just because they deplete their accounts…
Those who were able to deal with emotions sometimes make another unforgivable mistake: they stop looking at money management. As they trade well, they begin to realize that a large investment in one trade could bring them several times more money at once. And now, not 5 or 10% is used, but 20, 30, 50… Such steps are sometimes even more dangerous than an emotional approach. A couple of withdrawals, and the account cannot be restored …
As a result, not everyone can climb to the top along that kind of “ladder” you read about above. But this is not the end. The remaining people are truly successful traders who have a good strategy and enough self-discipline to follow it. Here it will not be superfluous to mention the entries, the trading journal, the plans and the habit of strictly following them.
When you manage to go through each of the stages, you will be on the same level as those whose opinion is heard today, which is admired by traders, with whom brokers cooperate. You want this? Perhaps you do not have the necessary qualities, but work on yourself, dense, constant, will fix everything.