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When can u consider urself successful in trading

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Jul 02, 2013 02:22 pm
#1
Sasha User

Сообщения: 836
Зарегистрирован: 16/05/2011

Percentage of successful traders in forex is very low. In my opinion success is measure by following factors.

 

1- Historical data

2- Consistency

3- Experience

4- Strategy

5- Professionalism

Long historical data with consistent profitability is an important measure of trader's sucess. Then experience and strategy comes next. Professional behavior matters if u want to acheive more success.

What other factors do u think r important?

Jul 03, 2013 03:38 am
Jogi User

Сообщения: 685
Зарегистрирован: 06/06/2011

IMO above factors are just one part of success which is outer success. But there is an inner feeling for success which is only developed once u r satisified with ur trading capabilities. Above factors are for others to see that u r a successful trader. So most important factor is to prove ur trading capbalities to urself. If u r satisfied with ur trading capabilities, u r successful.

http://www.fxstat.com/widget/link?t=wide&c=1&s=26883&o1=growth&o2=drawdown&o3=monthly&o4=equity

Jul 04, 2013 04:42 am
Champ User

Сообщения: 711
Зарегистрирован: 17/05/2011

You have made a good list Sasha. I agree with u on it. If I want to measure someone's trading ability. I will first look at equity curve. I will then look at monthly results. Next comes "how long has he been trading". Next comes if he is using any risky strategy or not. We can get an idea by looking at closed trades.

http://www.fxstat.com/widget/link?t=tiny&c=1&s=24959&o1=growth&o2=drawdown&o3=profitfactor

Jul 04, 2013 01:17 pm

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Зарегистрирован: 17/05/2013

In my opinion I think when you start taking the right decisions and you start decreasing losses, then you can consider yourself a successful trader.

http://www.fxstat.com/widget/link?t=tiny&c=7&s=28807&o1=growth&o2=drawdown&o3=monthly&o4=equity

Jul 06, 2013 09:14 am
Champ User

Сообщения: 711
Зарегистрирован: 17/05/2011

Originally posted by ZenaImderis

In my opinion I think when you start taking the right decisions and you start decreasing losses, then you can consider yourself a successful trader.



That is correct. But there is only 1 way to verify correctness of decisions. If they r wrong, u will see negative results in long run and vice versa. So again it is about the factors listed by sasha. If u have a long trading history with positive results, it means u have made right decisions.

http://www.fxstat.com/widget/link?t=tiny&c=1&s=24959&o1=growth&o2=drawdown&o3=profitfactor

Jul 10, 2013 09:13 am

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Зарегистрирован: 17/05/2013

Yes, ofcourse this is right.

And I would like to add to the list one more thing: to learn from other traders.

http://www.fxstat.com/widget/link?t=tiny&c=7&s=28807&o1=growth&o2=drawdown&o3=monthly&o4=equity

Jul 11, 2013 09:35 am
manwa66 User

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Зарегистрирован: 02/07/2013

I think when you start to increase your profit and decrease your losses.

Jul 13, 2013 08:15 am
Jogi User

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Зарегистрирован: 06/06/2011

Originally posted by manwa66

I think when you start to increase your profit and decrease your losses.



.....On a consistent basis.

Yes it is also a sign but not very good. Because struggling for consistency is far more important than struggling for "more and more" profit. You will automatically see a slight increase with the passage of time and you may not see any change in average profit percentage.

http://www.fxstat.com/widget/link?t=wide&c=1&s=26883&o1=growth&o2=drawdown&o3=monthly&o4=equity

Jul 13, 2013 05:23 pm
sameeh User

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Зарегистрирован: 13/07/2013

i will consider myself as a successful trader when i make two something,

the first is that i can analyze the chart well with high percentage of success

the second is that i can be able to make consistent profits

Jul 14, 2013 09:09 am
Jogi User

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Зарегистрирован: 06/06/2011

Originally posted by sameeh

i will consider myself as a successful trader when i make two something,

the first is that i can analyze the chart well with high percentage of success

the second is that i can be able to make consistent profits



What is ur current level? How long have u been trading and do u consider urself near to a successful trader yet or not?

http://www.fxstat.com/widget/link?t=wide&c=1&s=26883&o1=growth&o2=drawdown&o3=monthly&o4=equity

Jul 25, 2013 01:41 pm

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Зарегистрирован: 25/07/2013

dear in my point of view i consider that i have good knowledge and proper experience about forex trading then i will be a successful trader in forex market because without knowledge and experience we cant get any benefit from forex trading

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