US Update: What Makes a Successful Forex Trader?

This article will look hard at what makes a Forex trader successful.  It deals with taking responsibility for one’s actions and emotions in the market, including the issue of adherence to your own trading rules.

Successful traders have acquired certain skills and habits that they have finely adapted and tuned to their interactions with the unique environment of the market. Genetics do play a role.

For instance, spatial thinking skills are an advantage, but that does not mean that someone with poor spatial skills cannot become a successful trader.

For what really seems to divide the winners from the losers is the ability to take responsibility for our every action and to possess the ability to to recognize, accept and be master of one’s emotions, and this takes training, more specifically, mental training.

For trading is much more of a mental than a physical activity.

Opinions vary (70-90%) but the importance of the right attitude, belief in success and the control over emotions is paramount.

Being a successful trader is thus first and foremost about taking FULL RESPONSIBILITY for every action, decision taken and emotion expressed in the market place.

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