Which things are necessary to be a successful trader?
TRADINGFEATURED
"Survival is the name of the game in trading and that means having capital ready for the execution of your trading plan"
Survival is the key to success in trading.
This had to be understood.
Drop the get-rich-quick scheme.
Plan your success and understand that it’s a long-haul game.
Survival is the name of the game in trading and that means having capital ready for the execution of your trading plan.
If you are not in the game, you can’t capitalize on the opportunities that the market presents to you.
Everyone comes into trading thinking they will make quick and easy money, when in reality, if you want to see the big money in trading, it will require an extensive time where you build your discipline and psychology to match the level of success you want to achieve.
As the trading rules go :
Protect your capital
Grow your capital
Follow rule 1
Credit: Quora