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Can You Define a Successful Trade?

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  • Can You Define a Successful Trade?

    This single question seems to be at the heart of both success and failure as a trader.

    I'm curious as to what others use as their measuring rod for success. Is it accuracy, net ROI per trade, a positive MFE/MAE ratio, not getting stopped out, leaving a certain % of pips on the table in each position held, etc. etc., etc. How do you define it?

    When you look in the mirror in the morning and say to yourself: 'You know something, you are a successful trader," what does that mean exactly?

    Define: Successful Trader.

  • #2
    I think, In2itionTrading-com could be the answer.

    It seems that In2ition achieves .....
    - 5% average monthly return with
    - acceptable level of drawdown
    - using proper Money Management approach
    - with moderate to low risk and
    - good amount of knowledge and experience about Forex trends

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    • #3
      Great post Smurf

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      • #4
        A Successful trade is any trade that you have carried out strictly following your rules regardless of the outcome.
        Last edited by shabz; 27-07-12, 14:37.

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        • #5
          Great post Smurf

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          • #6
            It's better to have a losing trade whilst following your rules than losing money
            when you don't follow your rules.
            Take encouragement from the fact that you followed your rules with discipline.
            If you fail to plan, you plan to fail.

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            • #7
              A successful trade is one in which you have made money...whether you followed a plan or not...forgot all other bullshit....

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              • #8
                agreed... cut out the **** and win

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                • #9
                  Originally posted by shabz View Post
                  It's better to have a losing trade whilst following your rules than losing money
                  when you don't follow your rules.
                  Take encouragement from the fact that you followed your rules with discipline.
                  If you fail to plan, you plan to fail.
                  yeah, absolutely, the key is the have a good and working strategy in the market.

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                  • #10
                    A successful trade is something that ONLY the individual trading can define. Obviously, any winning trade is successful in its own right. However, what it means to you personally is where it matters most.

                    The biggest question any budding trader should answer is, "why am I trading in the first place?". Hopefully, the answer you come up with is not, "to make money". That definition is not refined enough and needs to be broken down into your true desires beyond just making money. You should look at your trading as a business and take every aspect of it seriously. By defining all the specifics, you are essentially coming up with a business plan.

                    The reality is that most decisions about successful trading take place when you are NOT trading. Key decisions are made in your mind before you even take on a trade. Once you get a system down and live by the rules of that system, the majority of your battle is dealing with things on a personal level. Things such as your ability to handle when the market goes against you and your ability to not go against your own rules whether you are up or down.

                    To me, this is what successful trades are made up of.

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                    • #11
                      the chances of having a failing trade is BIG in forex, as long as its positive then you are all goood.. even if its a fraction of a 1% earning its still good, god knows howmany traders stay on the negative side

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                      • #12
                        Successful trader is a trader that can control his emotion,
                        can minimize the lost.
                        always learning and practicing.

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                        • #13
                          It is like in poker. You need strong and good fundamental knowledge. Without that you will control your emotions harder.

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                          • #14
                            A successful trader is one who can control his emotions, could be disciplined with his trading system. That way I'm sure he will profit consistently. The system can not guarantee good luck in forex.

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                            • #15
                              Yes, I agree... self discipline is the fundamental thing...

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