What Does it Take?

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What are the most important skills and qualities a successful trader must have?

 

Having to ability to stay positive. Be determined. Make patience your best friend. focus your trading on one system and only trade a couple of pairs at one time. Get to the point where you understand these pairs better than yourself. New traders tend to get too overwhelmed. Focus focus and focus.

 

You should have following qualities if you want to be a good and successful trader:

Self-discipline

Master your ego

Keep an open mind

Mental Agility

Patience

A passion for the market

 

The most important thing a forex trader should have is, forex knowledge. (He should know what forex is all about). Testing his trading ability (He should test his trading ability with the demo account, after which can open a live account where real money is involved). Ability to control his emotion when trading (Since real money is involved in trading live account, the trader should be able to control his emotion when opening a position). He should know when to close a trade when he is losing, and also know when to close a trade when he is making profit. He should also understand the market indicators.

 

i has been trade for 3 years with liteforex. i think successfull trader must have good skill and knowledge about technical, fundamental analysis. they must know time when they entry market. and time to take out.

 

Here is a check list

/go?link=https://www.readyforex.com/pdf/Winning_Mind_Of_A_Trader.pdf

I hope this will help many Forex traders.

 

The most important thing a trader should have is patience, dedication, dedicate your time to learning first than wanting to gain without knowledge. Concentration, you should be concentrated to the trade. Do not allow any trader deceive you or being carried away by any other thing. A good trader will always know that trends are not enemies rather they shows us the direction of the market. The trend tells you when to buy and when to sell. Do not be overconfidence. Avoid greed, if you must apply greed to your trade, use it wisely.

 
pat2020:
The most important thing a trader should have is patience, dedication, dedicate your time to learning first than wanting to gain without knowledge. Concentration, you should be concentrated to the trade. Do not allow any trader deceive you or being carried away by any other thing. A good trader will always know that trends are not enemies rather they shows us the direction of the market. The trend tells you when to buy and when to sell. Do not be overconfidence. Avoid greed, if you must apply greed to your trade, use it wisely.

we need patience. i think it is the important with trader. because if we wait we can make better chance

 

A trader need to be confident in his ability. He should be self discipline and patient and importance should learn how to control his emotion and consistency.

 
Ginoo:
What are the most important skills and qualities a successful trader must have?

You need to be;

Dedicated, Hardworking, Ready to learn, Realistic...Patience, Less greedy etc.

You can check this link: How to Trade Forex: How I Succeeded as a New Trader, to see how a new trader puts all of these to use and succeeded.

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