Successful traders are made. They are not born. You do not need to be academically gifted to make a success of trading. You do not need to be good at maths, physics or have a doctorate in finance. In fact you do not need any of that. If I can do it without any of this, you certainly can.
Successful traders are made. They are not born. You do not need to be academically gifted to make a success of trading. You do not need to be good at maths, physics or have a doctorate in finance. In fact you do not need any of that. If I can do it without any of this, you certainly can.
The firm's main research and development office is based in Tel Aviv Israel. It originally specialized in Forex and indices spreadbetting and CFDs but has recently expanded in stock trading also.
At the time of writing, eToro has 2.2 out of 5 star on Trust pilot. The comments suggest that the platform offers some impressive features but withdrawing money can be difficult. Having said that, some of the negative reviews appear to be rants rather than constructive criticism. This can be examples of traders losing money through their own recklessness rather than eToro's fault. You should therefore take this reviews with a pinch of salt.
“the platform offers some impressive features but withdrawing money can be difficult.”
76% of retail investor accounts lose money when trading CFDs with this provider.
OANDA is a global financial services company providing advanced currency solutions to both retail and corporate clients all over the world. In this article, we are going to review this broker’s trading options, tools, platforms, spreads, commissions, security measures, and educational resources to help traders make the right choice.
76.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing
AvaTrade offers a wide variety of trading solutions (spread trading, CFDs, and social trading), and peace of mind with its comprehensive regulation, covering the EU, Australia, Canada and South Africa. Clients can use a variety of platforms for discretionary and automated trading.
76% of retail investor accounts lose money when trading CFDs with this provider.
Offers multiple asset classes, platforms, and regulated in a variety of regions. Caters for a global audience. Awarded with the Highest Overall Customer Satisfaction Award for 5 years running - Investment Trends CFD Report 2015.
A standalone copy-trading ecosystem, providing equities, foreign exchange, commodities and cryptocurrencies markets. Provides a global selection of brokerages.
Pepperstone is a global regulated broker that provides its clients with the latest technologies for trading multiple assets such as Forex, indices, cryptocurrencies, stocks, ETFs, and commodities. This article provides an overview of its trading platforms, tools, fees, protection measures, and other aspects to help traders make a more informed decision.
But I shall tell you this much: an essential component of successful trading is simply having "right attitude". It sounds almost too easy doesn't it? But this is something that manyamateur traders who decided to learn "the hard way," have done. Unfortunately not before nursing our battle wounds from the market! This is something I do not want you to have to go through as it is painful and costly.
For successful traders, having a profitable trading strategy is one thing. But contrary to what you may expect, having the mindset of a successful trader and their attitude towards the market is everything. For experienced and successful traders, the latter is far more important for your success.
Successful Traders: Do You Have What it Takes?
If you are prepared to be patient and disciplined, you will be head and shoulders above many. This means you will only trade opportunities when they meet your rules for entry. Few follows these rules to their detriment.
Patience and discipline are two core attributes embraced by experienced, successful traders. They certainly made me as a trader. I had to go through a lot of pain to realise this. After all, they do not come naturally to my personality as I've always been fairly rebellious. Naturally this had an adverse affect on my trading. I jumped into trades which simply were not there and went from strategy to strategy. I cursed the market and everyone else in it...and all of this was on a good day!
That was then, this is now
From simply staying true to sticking to several higher timeframe strategies has transformed my trading for good. I only trade when the rules tell me to and nothing else.
Even if by nature you do not consider yourself a patient or disciplined person, this is all the more important. This applies if you are the more compulsive and excitable type who likes always being in the action.. All is not lost. You can definitely still make a success of trading.
From simply having an awareness of this will help to transform your prospects. Appreciate that you need to impose a patience and disciplined state of mind for long-term success in the markets. Otherwise, the market has a funny habit of punishing people who do differently.
How You Do Something is How You Do Everything
Consider this; are you trying to give something up but just can't? Perhaps you're a smoker who is struggling to kick the habit despite your best intentions.
If that sounds about right then I have news for you. Ever heard the old adage: How you do something is how you do everything? If you are unable to demonstrate discipline in kicking the habit then that personality trait could rear its ugly head in your trading in the form of rule breaking. I'm not saying that if you are trying to give something up and can't that you are doomed to failure as a trader - but as long as you have an awareness of it and are able to pre-empt this then you will certainly be one step ahead in the game! The third trait is simply having a respect for the market. It can do anything at anytime! It doesn't owe you or me a living, care about whether you're from, what you do or what strategy you follow...it will do its thing regardless, leaving us to play with the probabilities.
Conclusion
So, there you have it: patience, discipline and a respect for the market. Those three alone will set you apart from the crowd and transform your trading.