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  • Svoboda's Avatar
    12-10-2019, 12:16 PM
    Svoboda posted a visitor message on Svoboda's profile
    What You Didn’t Know About Successful Forex Traders in 2020? What is it about successful Forex traders that sets them apart from the rest? A...
  • Svoboda's Avatar
    12-10-2019, 12:15 PM
    Svoboda posted a visitor message on Svoboda's profile
    In this post, I’m going to share with you nine of the top qualities that the best Forex traders in the world possess. What follows is a combination...
  • Svoboda's Avatar
    12-10-2019, 12:13 PM
    Svoboda posted a visitor message on Svoboda's profile
    What Does It Mean to Be Successful? Before we get into the nine attributes, I want to clarify how we will define success in this article. Any...
  • Svoboda's Avatar
    12-10-2019, 12:12 PM
    Svoboda posted a visitor message on Svoboda's profile
    So Who Are the World's Best Forex Traders? Stanley Druckenmiller Stanley Druckenmiller has long considered George Soros his mentor. In fact,...
  • Svoboda's Avatar
    12-10-2019, 12:10 PM
    Svoboda posted a visitor message on Svoboda's profile
    Bill Lipschutz I’ve written about Bill Lipschutz forex vps in the past. He’s known for turning $12,000 of inheritance money into $250,000 while...
  • Svoboda's Avatar
    12-10-2019, 12:09 PM
    Svoboda posted a visitor message on Svoboda's profile
    Here are four key tenets from Bill Lipschutz himself: 1. Time is a risk factor. A three to one reward to risk ratio is acceptable for trades of 48...
  • Svoboda's Avatar
    12-10-2019, 12:07 PM
    Svoboda posted a visitor message on Svoboda's profile
    1. They Don't 'Lose' Before the emails start pouring in, let me explain… No Forex trader is without losses. But there’s a distinct difference...
  • Svoboda's Avatar
    12-10-2019, 12:05 PM
    Svoboda posted a visitor message on Svoboda's profile
    Unlike you, the market is always neutral. So when you lose, it’s a matter of reflecting on what you could have done better. Don’t get me wrong,...
  • Svoboda's Avatar
    12-10-2019, 12:03 PM
    Svoboda posted a visitor message on Svoboda's profile
    The successful Forex trader has the mindset that a loss is simply feedback. It’s the market’s way of disproving a trade setup. That’s the only...
  • Svoboda's Avatar
    12-10-2019, 12:01 PM
    Svoboda posted a visitor message on Svoboda's profile
    Next time you have a loss, take it as constructive feedback. Analyze the situation to see how you can improve the next time. Keep in mind, though,...
  • Svoboda's Avatar
    12-10-2019, 11:59 AM
    Svoboda posted a visitor message on Svoboda's profile
    The money you put at risk on any given trade, whether it’s $5 or $500, is an investment with the best Forex coach in the world — the market. Keep an...
  • Svoboda's Avatar
    12-10-2019, 11:57 AM
    Svoboda posted a visitor message on Svoboda's profile
    They Use Price Action Every successful forex vps trader I’ve met uses price action in some way, shape or form. This doesn’t mean they’re using...
  • Svoboda's Avatar
    12-10-2019, 10:46 AM
    Svoboda posted a visitor message on Svoboda's profile
    3. They Have a Defined Trading Edge I see a lot of talk on the internet about the need for a trader to develop an edge and define it. And, if I’m...
  • Svoboda's Avatar
    12-10-2019, 10:44 AM
    Svoboda posted a visitor message on Svoboda's profile
    It was everything. Brazil had the “total package”, as they say. It was their passing, shooting, dribbling, movement of the ball, set plays and...
  • Svoboda's Avatar
    12-10-2019, 10:43 AM
    Svoboda posted a visitor message on Svoboda's profile
    Instead, master one thing at a time. For example, become an expert at identifying key levels. Then expand your skill set by learning how to determine...
  • Svoboda's Avatar
    12-10-2019, 10:42 AM
    Svoboda posted a visitor message on Svoboda's profile
    4. Successful Forex Traders Don't Try Too Hard But trying hard is what it takes, right? Not quite. This might apply to other ventures in...
  • Svoboda's Avatar
    12-10-2019, 10:41 AM
    Svoboda posted a visitor message on Svoboda's profile
    I’m a big fan of this book series. In fact, I wrote a post that features several of his books. When I first started trading Forex, I remember...
  • Svoboda's Avatar
    12-09-2019, 01:45 PM
    Svoboda posted a visitor message on Svoboda's profile
    5. They Think in Terms of Risk It’s often the smallest things in life that generate the greatest improvements. The concept of thinking in terms...
  • Svoboda's Avatar
    12-09-2019, 01:43 PM
    Svoboda posted a visitor message on Svoboda's profile
    The convenience of Forex position size calculators has made it so that we never have to consider the dollar amount being risked. This convenience has...
  • Svoboda's Avatar
    12-09-2019, 01:42 PM
    Svoboda posted a visitor message on Svoboda's profile
    This is because pips and percentages carry no emotional value. So when you define your risk on a trade as a percentage only, it triggers the logical...
  • Svoboda's Avatar
    12-09-2019, 01:37 PM
    Svoboda posted a visitor message on Svoboda's profile
    6. They Don't Need the Money There aren’t many guarantees in the forex vps market. But one guarantee I can make is that there’s no successful...
  • Svoboda's Avatar
    12-09-2019, 01:35 PM
    Svoboda posted a visitor message on Svoboda's profile
    If you need the money from trading to pay bills, odds are that you’ll feel pressured to win. If you’re feeling pressured to win you’ll most certainly...
  • Svoboda's Avatar
    12-09-2019, 01:33 PM
    Svoboda posted a visitor message on Svoboda's profile
    7. Successful Forex Traders Know When to Walk Away Of course, I’m referring to taking a brief hiatus, not walking away for good. All successful...
  • Svoboda's Avatar
    12-09-2019, 01:32 PM
    Svoboda posted a visitor message on Svoboda's profile
    Taking a break after a win will allow your emotions to settle. After the win, you’re feeling excited and proud of yourself, and you have every right...
  • Svoboda's Avatar
    12-09-2019, 12:05 PM
    Svoboda posted a visitor message on Svoboda's profile
    If you’re doing this, it means your emotions are getting the best of you. Instead of seeing a loss as a reason to hop back in the market, take it...
  • Svoboda's Avatar
    12-09-2019, 12:04 PM
    Svoboda posted a visitor message on Svoboda's profile
    From experience One thing I’ve found helpful after a trade is to close my trading platform until the day closes at 5 pm New York time. Not all...
  • Svoboda's Avatar
    12-09-2019, 12:02 PM
    Svoboda posted a visitor message on Svoboda's profile
    8. They Don't Focus on Wins and Losses You can’t visit a Forex site these days without seeing an advertisement for some strategy that promises a...
  • Svoboda's Avatar
    12-09-2019, 12:01 PM
    Svoboda posted a visitor message on Svoboda's profile
    Successful Forex traders know this. They have realized long ago that it’s not about winning a high percentage of the time. It’s about maximizing...
  • Svoboda's Avatar
    12-09-2019, 11:59 AM
    Svoboda posted a visitor message on Svoboda's profile
    9. They Never Gave Up Although this one is last on the list, it’s by far the most important to your success as a trader. I’ve found over the...
  • Svoboda's Avatar
    12-09-2019, 11:58 AM
    Svoboda posted a visitor message on Svoboda's profile
    Of all the ways to make money in this world, trading is arguably the worst choice. That may surprise you coming from me, but of all the things...
More Activity

33 Visitor Messages

  1. What You Didn’t Know About Successful Forex Traders in 2020?

    What is it about successful Forex traders that sets them apart from the rest?

    A well-known figure in the Forex world is that 90% of Forex retail traders do not succeed. Some publications quote failure rates as high as 95%.

    Regardless of the actual number, having interacted with thousands of traders over the years, I can tell you that those figures aren’t far off.

    So what is it that sets the 5-10% apart?

    We’ve all heard the typical reasons such as experience, discipline, and strategy. While those may be factors, there are other less obvious differences.

    The bottom line is this…

    Successful Forex traders think differently from the rest. They aren’t concerned with needing a high win rate or trying to trade every day using forex vps regardless of market conditions.
  2. In this post, I’m going to share with you nine of the top qualities that the best Forex traders in the world possess. What follows is a combination of lessons I’ve learned since I began trading in 2002.

    So without further ado, let’s begin!

    - What Does It Mean to Be Successful?
    - So Who Are the World’s Best Forex Trader?
    - 1. They Don’t ‘Lose’
    - 2. They Use Price Action
    - 3. They Have a Defined Trading Edge
    - 4. Successful Forex Traders Don’t Try Too Hard
    - 5. They Think in Terms of Risk
    - 6. They Don’t Need the Money
    - 7. Successful Forex Traders Know When to Walk Away
    - 8. They Don’t Focus on Wins and Losses
    - 9. They Never Gave Up
  3. What Does It Mean to Be Successful?


    Before we get into the nine attributes, I want to clarify how we will define success in this article.

    Any story about a successful Forex trader must include consistent profits. I think we can all agree that most traders use profits to benchmark the success of another.

    However, success in any endeavor is about more than just money. It’s also about the joy and passion it adds to your life.

    This is one thing I can’t teach. I can offer help in drawing key levels, determining trend strength and price action signals. However, I cannot teach passion.

    You either love trading or you don’t. There is no in-between. So the question is if you don’t have a passion for trading, can you really be successful?

    Think about that for a moment. If you don’t absolutely love what you’re doing every day, can any amount of money make you content?

    I would argue that it can’t.
  4. So Who Are the World's Best Forex Traders?

    Stanley Druckenmiller

    Stanley Druckenmiller has long considered George Soros his mentor.

    In fact, the two worked together at the Quantum Fund for more than a decade.

    He was even there during Soros’ famous Black Wednesday trade in which they “broke the Bank of England” when they shorted the British pound in 1992.

    The duo reputedly made more than $1 billion in profits from the single trade.

    Stanley Druckenmiller left the Quantum Fund to start his own fund, Duquesne Capital.

    Duquesne Capital Management is famous for posting an average annual return of 30 percent without a losing year.

    However, Stanley decided to close the fund on August 18, 2010.

    He indicated that the “very large sums” of money were making it difficult to make big profits for investors.
  5. Bill Lipschutz

    I’ve written about Bill Lipschutz forex vps in the past.

    He’s known for turning $12,000 of inheritance money into $250,000 while still in college.

    He did this by investing the risk capital in his free time.

    However, nobody is perfect, and Bill is no exception.

    Shortly after turning $12,000 into $250,000, he made one bad investment decision that nearly cost him the entire account. He was back to square one.

    But instead of throwing in the towel, he used that loss to fuel his passion for learning.

    Lipschutz joined Salomon Brothers in 1984 as part of the newly formed Foreign Exchange Department.

    One year later he was making $300 million per year for the firm.
  6. Here are four key tenets from Bill Lipschutz himself:

    1. Time is a risk factor. A three to one reward to risk ratio is acceptable for trades of 48 hours or less, but longer duration trades require a five to one ratio.

    2. The game is the “thing”. According to Bill, a truly successful trader has got to be involved and into the trading; the money is the side issue.

    3. Know pain, but don’t fear it. You have to feel the pain of a bad trade, or a wrong trade. If you don’t and are numb to it, then it’s over.

    4. Insane focus is a must! Bill Lipschutz once said “when they call you crazy, you know you are on the right track. He was referring to the work ethic and insane focus required to succeed as a Forex trader.

    Now that we’ve covered some of the world’s best Forex traders, let’s discuss the nine attributes they share.
  7. 1. They Don't 'Lose'


    Before the emails start pouring in, let me explain…

    No Forex trader is without losses. But there’s a distinct difference between how the beginning trader loses and how the best Forex traders lose.

    What’s the difference?

    Mindset.

    Most starting out in the Forex market view a loss as a bad thing. It’s a way of signaling that they did something wrong.

    And doing something wrong is bad. At least that’s what we’ve come to believe over the course of our lives.

    However, the successful trader doesn’t view a loss as a “bad” thing.

    It’s also not something the market did to you. The Forex market doesn’t know where you entered or where your stop-loss order is located.
  8. Unlike you, the market is always neutral. So when you lose, it’s a matter of reflecting on what you could have done better.

    Don’t get me wrong, nobody likes to see a trade go against them. I don’t care if you’ve been trading for one month or ten years, it’s always more enjoyable to make money than to lose it.

    That being said, just because a trade doesn’t go your way doesn’t mean you should take it personally. Thinking this way will only dig you a deeper hole.
  9. The successful Forex trader has the mindset that a loss is simply feedback.

    It’s the market’s way of disproving a trade setup. That’s the only thing the Forex market has the ability to do because it doesn’t know anything about you or where you entered the market, nor does it care.

    Losses can be a powerful way to learn. Just remember that even a trade that ends up as a loss can be the right decision.

    How is that possible, you ask?

    If you’ve defined your edge, and the setup met all of your criteria to enter the market, then you did all you can do. The rest is up to the market, and some days the market just doesn’t play along.
  10. Next time you have a loss, take it as constructive feedback. Analyze the situation to see how you can improve the next time. Keep in mind, though, that even an A+ setup doesn’t always work out.

    I’ve had many trade setups that didn’t work out that I would gladly take every single week.

    That’s because I know that my edge will win over time and put money in my account. In fact, a good exercise after a losing trade is to ask yourself, “would I take this same setup again next week if it presented itself?”

    You should always be able to answer this question with a resounding “yes”.

    If you answer with a “no”, you need to take a step back, determine where things went wrong and correct it for the next trade.

    Start seeing trading losses as business investments rather than upsetting events. Each loss is an investment in your trading business and ultimately your trading education.
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