The difference between successful and unsuccessful traders

[mumuy]

The only difference between successful traders and unsuccessful traders is that the unsuccessful ones don’t know what they are doing and keep losing more money in a desperate attempt to get it all back. Successful traders know exactly what happens when they lose money and know how to put the losses into perspective. They don’t desperately chase the market, trying to make up for past losses. They don’t waste any time dwelling on the past, rather, they stay focused on what future trading opportunities exist—and that is what makes them successful.

The basic difference between successful traders and the unsuccessful traders is knowledge and experience and sometimes discipline and patience. There is no body that has ever succeeded in forex without knowledge and experience

[Paul75]

The difference is lack of knowledge and understanding (90%) and luck (10%).

[Rambo35]

Unsuccessful traders follow the advice of other unsuccessful traders as their point of view is popular, such as:

1. Learn to trade in a demo account
2. Leverage is bad for you.
3. Forex trading is easy money
4. Trade with free money from your broker or forum posts

[thelastbear]

Unsuccessful traders follow the advice of other unsuccessful traders as their point of view is popular, such as:

1. Learn to trade in a demo account
2. Leverage is bad for you.
3. Forex trading is easy money
4. Trade with free money from your broker or forum posts

Very well written, I was about to give a similar response. Successful traders are always in the minority camp and don't follow popular myths.

[mumuy]

I agree with number 3 and 4, trading is not really easy to make things short, since trading connotes a high degree of knowledge and experience. While, trading with free money won't get you nowhere.

[Uncle_Gober]

For me, unsuccessful traders is trader who cant get up after getting failure, they also cant control their trading emotion. A successful trader will also try to maximize what have been provided by broker to get more maximal result in forex trading, they wanna learn from their experience, always take the positive side although they are in the worst situation

[gaban]

For me, unsuccessful traders is trader who cant get up after getting failure, they also cant control their trading emotion. A successful trader will also try to maximize what have been provided by broker to get more maximal result in forex trading, they wanna learn from their experience, always take the positive side although they are in the worst situation

I agree with you. successful trader is a trader who is able to rise up when getting a loss. Successful traders will not always stop to try. And they were able to control emotions. So that the profit can be consistent. And always look for trading opportunities that exist.

[mumuy]

I agree with you. successful trader is a trader who is able to rise up when getting a loss. Successful traders will not always stop to try. And they were able to control emotions. So that the profit can be consistent. And always look for trading opportunities that exist.

I agree as well, since rising to the challenge is the best way to be prove that your successful.

[gaban]

The difference is lack of knowledge and understanding (90%) and luck (10%).

I agree with you. to become a successful trader is we need a lot of knowledge. I think, there is no successful trader because of luck. As we know, that forex is a very risky business. To be successful in forex we need a lot of knowledge and skill. To be able to minimize the risk. While, not successful traders is a trader who does not have a good knowledge and skills. So it can not minimize the risk.

[mumuy]

I really don't believe in luck even if its 10 percent since everything happens for a reason and based on logic, cause and effect.