ARE YOU A GAMBLER OR ARE YOU A TRADER?Hello everyone
Today we will touch on a serious topic, at the end of which you will be able to determine who you are in the market.
Let's go!
Two types of people
There are a large number of people in the forex market and they are all different.
But, even considering the diversity, there are still common features by which people can be divided.
Some come with a desire to earn quickly, while spending not much time and effort.
Others come to the market as a job.
The first are simple players, mostly they lose money and eventually leave with nothing.
The second are professionals. They know how to trade, they follow the rules and their discipline is at the highest level.
How to determine which group you belong to?
There are a couple of factors that distinguish an ordinary player from a real trader:
1. Risk management. The player, as a rule, does not follow the rules of risk management. The player's risk is equal to his capital. That is why players lose all their capital.
Real traders rarely risk more than 1% of the capital. Such traders follow the rules of risk management in EACH position. Therefore, they never lose all their capital.
2. Trading plan. Players have not tested strategies and rarely study them to the end. They superficially learn new trading methods and run to the market to use them and therefore lose everything. Professionals know everything about their strategy, when to open, when to close, why and how much. A professional will have an answer to all questions and will have a plan.
3. Emotions and money. Do you trade for emotions? Do you like roller coasters at the market? If the answer is yes, then you are a player. Players come to the market to experience the full range of emotions and the market gives them this, but takes money in return. Professionals do not experience emotions, they are here to earn a living. Chasing emotions is not for them.
4. What do you want or what do you see? The player trades what he wants from the market. A player may see something on the street or some news and now he wants to open long positions without paying attention to the context of the market. A professional is not set up to trade long or short, he is set up to trade what the market is trying to show. If the market shows signs of growth, a professional will open long and vice versa. There are no desires here, there is only a plan, strategy and discipline.
Conclusion
Everyone should answer these questions to understand who they are in the market.
Having defined yourself, you will be able to improve yourself, admitting mistakes is already half the case.
This article also indicates the further path that will help you from an ordinary player to become a professional trader.
Good luck!
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
