What are the requisites to become successful in trading?

[Raja Krsnan]

Trying out new strategies is a good idea. If any element of the new one can be incorporated into the one we are using presently, then it should be explored, if necessary. Mostly these changes need to be introduced to suit particular situations or phases of market behaviours. But the main trading plan or strategy should remain the same with provisions of situation based additions or deletions of certain components from it whenever it is necessary.

[pinpin]

right. trading plan or strategy should be made simple. a complex plan will be difficult to digest and has no guarantee that it will always result in profit. And we should always stick to the plan and should test it for a few days and never try to experiment everyday changing it.

true, if we already have its own strategy
and still trying to experiment with other strategies, would be a waste of time
better we are faithful to our own strategy
but at least we should try to fix it, because somehow the market will be different between now and the future

[mayengbam]

right. trading plan or strategy should be made simple. a complex plan will be difficult to digest and has no guarantee that it will always result in profit. And we should always stick to the plan and should test it for a few days and never try to experiment everyday changing it.

[alwi]

While learning from our mistakes and trying not to repeat it, one must also understand that we live in a very dynamic world which throws up many surprises. Use very simple methods that does not need to be changed every now and then. such simple strategies or methods work in almost all kinds of situations yielding good results.

well once you say that we do not often change the system we use because it could be we will become confused and can never be what we want

[Raja Krsnan]

While learning from our mistakes and trying not to repeat it, one must also understand that we live in a very dynamic world which throws up many surprises. Use very simple methods that does not need to be changed every now and then. such simple strategies or methods work in almost all kinds of situations yielding good results.

[mayengbam]

Also we should learn from our previous mistakes and do not make the same mistakes again.we should also keep improving our strategy and modify it till it becomes good enough to give consistent profits.

thats axactly what we should do, we should treat our failures(losing positions) as a good lesson to learn and mend it in time so that we dont face the same situations again. and its very important for our success

[blackprince4u]

rightly said dude, thats why we need to constantly update our knowledge and follow the market and trade consistently to gain more experience. These are the factors which will make the quality of our analysis better

Also we should learn from our previous mistakes and do not make the same mistakes again.we should also keep improving our strategy and modify it till it becomes good enough to give consistent profits.

[mayengbam]

A trader needs to be practical in his approach. He must be prepared to take risk, must take responsibility for all his actions. Must take decisions, whatever that may be. A trader is an independent entity and he cannot wait for some one else to make decisions for him. whatever has to be done, he alone must do it.

rightly said dude, thats why we need to constantly update our knowledge and follow the market and trade consistently to gain more experience. These are the factors which will make the quality of our analysis better

[Raja Krsnan]

A trader needs to be practical in his approach. He must be prepared to take risk, must take responsibility for all his actions. Must take decisions, whatever that may be. A trader is an independent entity and he cannot wait for some one else to make decisions for him. whatever has to be done, he alone must do it.

[soumen]

ek accha trader hone ke liye kai are chiz ki jarurat he. jaise ki knowledge, time, aur ha practice, aur apne sikhne ki iccha,emotion ko control karna sikhna chahiye.
ek accha trader aap tab ho paoge jab ki aapke winning ke percentege jyada ho loss se. tabhi ja ke aap ek accha trader ban paoge.