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The Characteristics of a succesful trader....

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hi, what is the main points of a succesful trader, im trying to understand simonPB post on focus on (being a succefull trader) and not the money. That sounds right and probably is. so naturally i want to know and trying to think what are those succesful points/habits a trader has when his trading and his not bothered about the money?
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Valued Contributor
in a word .. discipline ..
doing the right thing at the right time ..
trade the price
it is about selling
don't let your thinking get in the way of your trading

attend my trade to trade well course (JHB is tonight) ..
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MTrader3, if there is space on that course tonight and you in JHB, MAKE SURE YOU ARE THERE!!!! It is an excellent place to be if you have these types of questions. just click on the course on home page and book a seat.
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Super Contributor
I guess one run the risk of sounding like a broken record on this chat forum........The Disciplined Trader and Trading In The Zone by Mark Douglas will give you many answers you are looking for....
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Simple.A successful trader feels nothing.Like a Machine.Nothing.##Usually, such a trader belongs to The Scarface Club.
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Frequent Contributor
Plan your strategy like you are a rocket scientist, execute your strategy like a space monkey, just push the button.
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discipline and a clear set of rules
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Valued Contributor
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Super Contributor
The really good traders I know are all mathematically inclined. They know how to build and backtest a system that works. Couple that with dicipline and bob's you're uncle.
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Valued Contributor
I not a fan of back testing .. not close enough to the real thing (actual entry/exit levels) .. so I eyeball the chart, if it looks like it'll work I put commit 20 times money at risk and prepare to test it live with 20 live trades ..
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Super Contributor
Yep, trying to figure out how one would have reacted at the time of the entry/exit is a difficult thing. If the market was moving fast would the entry/exit have been in time as to ensure profit or would the spread and slippage have nullified the profit!
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Valued Contributor
yip .. costs you know .. actual entry/exit spread/slippage are way to unknown and variable ..
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thanks for all the helpful insight. i donot have a plan i am trading without a plan.yip very risky... what would really help is if you guys could post a blueprint of a basic trading plan. that i could edit as i go along. many thanks again
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Dude,Simon speaks wisdom.Read his post again.Plan ? EVERYTHING is planned and done.The Buy price,the Sell price,the Stop Loss.It must all be done....BEFORE YOU PUT THE MONEY DOWN.No changes afterwards,no thinking.###Do this and you'll be a Pro,my Son.
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MT3,go to Simon's Trade to Trade Well presentation. Be a sponge for two hours, really listen and soak it up. I went last night - this is very valuable stuff, all for free including decent coffee, so-so wine, and a pen. And, Simon Brown, thank you.
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Valued Contributor
hmmm .. so-so coffee as well unfortunately ..
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.....and the less said about the pen the better. Still, I like free stuff.
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Super Contributor
Unfortunatly missed last night - Simon, has much chnaged from your previous Trade to Trade Well course?
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Super Contributor
What a crock of *****..... A successful trader makes money and he does so consistantly..how he does that is he cuts losses, uses stops, buys with momentum and sells when he is in profit before there is a significant loss of momentum.
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Super Contributor
my point is the simplicity of trading is such that there is only one matric that matters.. do you make a profit consistantly.
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