iCharts Discussions

[opportunist]

How can traders make money...consistently? I think it is the central question in every trader's mind.

I am not a newbie but neither am I an expert. So this thread is no attempt at giving 'gyan'. I will rather encourage all to share their real experiences at how they DO it every day...day after day.

Also Experiences of stark failures / drawdowns / foolishness are welcome too, in fact more, as failures are the pillars holding the roof of success.

One good practice I learnt and successfully use in trading is that I have learnt to wait for the opportune moment. I have learnt no matter how lucrative the deal it seems - maybe the ema just crossed over or an indicator just gave a buy signal - if I have entered the deal without studying the charts well, preferably in short,medium and long TFs (e.g., 5,15,60) I am doomed to make a wrong judgment.

It is my experience that the urge to rush into a trade almost always ends up in losses. The urge to enter a trade in a state of euphoria/panic, is like a teenagers first love....almost always a wrong choice though it seems heavenly for the moment. So I made it a rule to never enter/exit without a trigger price. It helps in two ways. It eliminates hot headed decisions and it eliminates missed trades as the trade is automatically executed on trigger.

One bad thing I still cant overcome is to follow Stop loss discipline strictly and it still gives me the occasional negative days.

[nsinojia]

MONEY MAKING IS LONG PROCESS ASSOCITED WITH HARDWORK INSIGHTS AND BELIEF IN YOURSELF better think abt it before you think ,, you are trading anything in life

[Exness Official]

The goal of a successful trader is to make the best trades. Money is secondary.

One of my keys to trading success that I often tell traders, is to focus on becoming a good trader, not on the money. Of course you want to make money in the markets, every trader does. But you must also be interested in the process of trading, in the markets themselves and in the competition and ‘battle’ between bulls and bears. If you focus on that, rather than ‘the money’, the money will gradually start getting more and more ‘attracted’ to you.

Educations is always the key and also to make good profit you need to have low spread and good bonus program also that is what Exness has given me

[taruj]

[Prutech]

I think the first thing one needs to understand is that trading is not about quick cash. It is the get-rich-quick mentality that makes many traders to end up as failures. Yes, you can make money consistently, but your main ambition as you begin trading should be to understand the market and to enjoy trading. Money attracts traders, but it should be a bonus additon to the other benefits