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What makes a good trader

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What makes a good trader



Many things can be said here, but one of the most important aspects is knowing when to trade and when to sit on your hands.


Just because you are a day trader or swing trader does not mean that you "need" to put on a trade every day or every week.


The problem is that far too many traders can not, will not, do not want to adapt, and have no clue how to adapt to different market environments. And this is where the market does the natural selection... That is why there are winners and losers, traders that make money, and traders that blow up accounts.


A trader needs to identify the market environment and only trade when the opportunity is there. Here are just a few things to consider:


  1. Identifiable trend. Being able to assess whether the market is moving in a recognizable direction. Up, down, or sideways markets can be traded, but some are just pure chop, and those are the ones you need to stay away from.
  2. Recognizable strategy (set-up) It is as simple as it sounds; traders need to wait for a set-up that would deliver the best Risk to Reward. Therefore no set-up, no trade.
  3. Market conditions, the state of the market, economic events, and technical elements will be considered. The worst thing you can do is ignore market timing, especially ahead of econ releases.
  4. A tradable void that would allow price to run smoothly into targets. No Void = No Profits - price will get stuck into tough resistance or support areas.
  5. A digestible risk in relation to your account size. Make sure you position size for your own tolerance.


Hope you find these tips useful!


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We are all living through challenging times, and if you are a trader... the one thing that is always on your mind is what will the market do next.


  • What to trade?
  • What indicators should I use?
  • What are my entry and exit signals for each trade?
  • How should I trail this trade?


If you are unable to answer these questions successfully, you will end up in the same place you started. Worried about:


  • The amount of time it will take to be successful
  • Being unable to quit your job
  • Being able to find a system that really works and can provide for you
  • Staying in the game to trade another day


Well, it doesn’t have to be that way.


To trade like a pro, you have to think like a pro!


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Success is closer than you think!



Trade Happy and Risk Wisely,

Anka Metcalf
CEO/Founder
TradeOutLoud.com
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HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

Futures, Stocks, ETF's, and options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex, Futures, Equities, ETF's and Options markets. Don’t trade with money you can’t afford to lose. This website is neither a solicitation nor an offer to Buy/Sell Forex,equities, futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not indicative of future results.

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