When can u consider urself successful in trading
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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?
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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.
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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.
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Originally posted by ZenaImderisIn 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.
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I think when you start to increase your profit and decrease your losses.
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Originally posted by manwa66I 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.
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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
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Originally posted by sameehi 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?
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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