What distinguishes the best traders of the world from the average investor? The average investor can study stories of success of legendary traders and systems used by them?
What the general in actions of the most known traders, than the average talented trader can take advantage? Before answering to these questions will be given, let’s look at some of the most successful legendary traders:
– Nicolas Dwarves has transformed 36.000$ at 2.000.000$ in 18 months!!!
– Ed Sakota from 5.000$ has received 15.000.000$ in 12 years!!!
– Jessie Livermore has made a mullions-strong fortune
– Richard Dennis has made from 100 to 200 million $
– George Soros as believe is one of the greatest traders of all times!!!
Results are rather impressive and to this list it would be possible to add some other outstanding traders easily. So why they have such brilliant results?
There are some general factors which are observed at the majority of successful traders:
– They have system to which they strictly follow.
– The majority of them have trading style of following behind a trend.
– The majority of them have middle – and the long-term approach.
– They are not subject neither to fear, nor greed.
– They have absolute discipline and on 100 % adhere to the system.
– Their trade is completely planned; they are ready to all scenarios in advance.
– They know that the system passes through bad times and good times. They reduce losses as early as possible and allow profits to grow.
– Their systems correspond to their individuality.
Some of these items sound logically and, most likely, many will agree with them. But actually the average investor behaves absolutely in another way. Some of them “have burnt to themselves fingers” for last three years, and some even have lost a condition. Here some examples of observable types of behavior:
– In time losses are not reduced.
– Temporary investments are overdone in hope of lifting of the prices.
– People listen to advices of the investment Brokers and Analysts.
– People invest in the hot shares recommended by acquaintances of acquaintances.
– People have no plan concerning the investments.
– Management of capital in general is not considered in any way.
– People use styles of trade which their individualities do not correspond.
– They are filled in with greed and fear.
What the average talented investor from the above-stated can gather and how to avoid the transferred errors? Here some the useful moments which can be gathered at some of the most successful traders:
– Each investor has own individuality. Some investors have very aggressive style of trade and trade very often. Some prefer shares as others bear more risk and invest in options. Others want, to expend a minimum of efforts.
The investor should understand the profile and choose that style which corresponds to its individuality.
In case you decided to participate in forex trading should start from learning the basics of this market to make sure you do not have problems with this industry.