Quote from: rickadone on October 30, 2018, 11:18:22 AM

Quote from: onrise on October 26, 2018, 05:42:03 PM

Couple of things which I have observed is that a trader should always set the goals and have the upper and lower limit of the price. If that is trigger they should exit the position and should not be greedy which can cause a huge problem. As market being very volatile it can go other way around and you make more losses if you do not exit it on right time as per your principles.

The problem with most traders that I have seen over the years is that they assume trading to be a pure gambling and they approach it that way and in such cases, there is absolutely no way they will never eventually get screwed and flop most of the time. Trading is wide and complex and you need to give your time into learning first if you want to get the best from it. Without learning and some pretty good practice, you cannot even come by with a strategy, have an idea how to control loss, not get emotional, maximize opportunities and focus on how to fine tune their strategies over time

Quote from: analyst100 on October 26, 2018, 05:19:12 PM

If you have a passion for trading, Dr. Brett Steenbarger has some choice words for you: you're not going to make it. Instead, traders need to be passionate about markets. It may sound like a minor distinction, but it's not. In decades of working with billionaire hedge fund managers and traders, he's found that traders that are passionate about trading don't put in the work and trade too much.

The best trait I would say for any trader that wants to be successful is to have the keen interest to learn and never stop learning. This is a huge profession and if you manage to get the idea that it something easy which you can just hop into without some great deal of knowledge, the chances of seeing yourself get screwed will always be there. One thing with trading is that as long as you can learn well, and be dedicated to it, as well as practicing to get better, then there is no way you won't be able to put some attributes and skills into good use.

One of the main reasons you need to learn it all before you even start trading at all. Some always think if they can just learn some form of technical analysis, then they are good. There are so many things that actually pertain to trading that a lot of people do not get to learn and in that case, they tend to flop a whole lot than they can imagine.

Trading is all about how you are able to build a strategy, know how to manage risk and your funds, and have the ability to trade with your strategy without having to put any emotion at any point in time. Just know what you are doing and keep building your confidence and you will be fine.