I, like others traders, used to wonder what is the personality of a successful trader?

I mean what makes them successful and how do they make money in forex market while other 90% of traders toil hard to even have single successful trade?

Here are some aspects in which the successful traders differ from the rest -

1. Successful traders are prepared with a well laid out plan. More importantly, they stick to that plan and don't deviate from it or rush through it. Remember a "rushed through" plan is almost a receipe for losing money.

2. Successful traders remain emotionally detached from the trade. By this what I mean is that they have guts
to close the trade when it is in loss. Majority of traders lose their way right here. They keep their trades open even when the trade is in big loss, because they expect the market to reverse. But by the time the market reverses, their entire trading account is wiped out

3. They don't "make things happen". yes, that is right! They don't take on the market. Instead they analyse the market and trade per market conditions!


Technical & Fundamental Forex Trader
CEO, Forexnext.com, Sunpips.com, Suninside.com
Introduction Broker (IB) Alpari UK
Forex Education and Trading Advisory Consultant