Successful traders stories. Learn how to filter information.

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The story of success on Forex: the trader, who managed

CopyFX blog presents a new column, which is called “Stories of success”. The column will tell you about successful traders, who managed to earn good deals of money on Forex, and about those, whose trading operations helped them to achieve their goals. When everything depends directly on you, the main thing is to believe in success!

“Never give up, even if you lose and fail all the time”

If you feel suspicious about the stories of success on Forex, when a person starts trading and raises to lofty heights “from scratches”, and consider them to be some kind of science fiction or Cinderella tales, then you’re going to be very surprised. An outstanding event took place at RoboForex and it can’t be ignored or hidden. You bet: our client started trading with just only several hundreds of dollars on his account, and in less than a year, he had more than (skeptics, behold!) half a million! You have to admit that this case is very unique, and we wanted to hear about it from the own lips of the person, who made such phenomenal achievement. You can find our interview below.

– Vladimir, what did you do before trading and how did you start your Forex career? What motivation did you have, except for earning money?

Before starting trading, I studied at college. Long time ago, I was downloading different applications to my phone from some website and I saw one, which was called “Earnings via Internet”. I downloaded it and saw a lot of different numbers, which were replacing one another very fast, and couldn’t understand anything. I became interested in it and started looking for more information about it in the Internet. I learned quite fast and in about two weeks I opened a real account with 2,000 rubles, which I successfully lost after two days. However, I wasn’t disappointed, on the contrary – it increased my curiosity and interest. For many traders Forex is a way of earning money, but for me it was like a hobby at first. It was really interesting for me.

– How long did you study the basics of trading before you started to show stable profit?

I studied them quite fast, but I started to show stable profit (I mean really stable) only in fall of 2020. And my first profit I made six months later after I started trading on Forex, in fall of 2008. It was the time of the crisis, when one could make a fortune. However, my profit at that time wasn’t very regular. I just earned from 30 to 60 thousands of rubles twice a year, and that was all.

– How did you choose RoboForex as your brokerage company? Why it was us that you preferred?

I’ve known RoboForex for a long time, but mainly I participated in contests and made small deposits. I liked this company mostly because of its appropriate Regulation, fast depositing/withdrawal operations, and low spreads. I consider your company one of the most reliable ones in this area.

– In your opinion, which services provided by the company are the most interesting for traders, and which ones should be improved and developed more actively?

It’s hard to advise anything here. I think you don’t have to do anything for professional traders, because everything is already on a very high level. As for me, I’d advise to advertise the company more, and not only in the Internet, but, for example, in some financial programs on TV as well.

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– We know that on your way to success you won several different traders’ contests.

Over 7 years of trading, I’ve took part in many contests, including at RoboForex. I won a lot of times. Mostly, these wins were accidental, because to win the contest you must risk more than in usual trading. I often withdrew the profit I received when trading using prize funds, but the prize sum itself – no, I lost it sooner or later. I think that for any serious trading on real accounts you must use your own funds.

– Do you participate in discussions on different forums? Do you often consider other traders’ opinions?

Yes. I socialize on specialized forums quite actively. It very interesting for me to discuss and hold my own. But I never consider any opinions. I do everything by myself.

– Do you use any expert advisors in your trading, and if yes, then which ones?

No, I’ve never used them and I’m not going to. I think that no expert advisor is able to adjust to the market situation that is constantly changing. It’s better when you control everything by yourself.

– What trading experience can you share with other traders?

From my personal experience I can tell only one thing: never give up, even if you lose and fail all the time. Sometimes one month can cover years of failures and losses. And I think one must find a lot of time for trading you one wants to be successful in it.

– How did you deal with nervous tension on your way to profit, when any small accident could ruin all your hopes and plans?

I didn’t. I just let chips fall where they may. There were no worries. And the more my deposit was, the fewer emotions i had.

– Now, when your profit is fixed and all stressful emotions are gone, how did you decide to spent your money?

I’ve already withdrawn some part of my profit and spent it – I’ve bought BMW X6. From the very beginning, I was dreaming of earning on Forex to buy some kind of a car. Well, my dream has come true (laughing). And I’ll continue trading with the rest of the funds.

– Do you consider trading on Forex as your principal earner in the future?

Yes. Right now, trading on Forex is my principal earner. I think it will be the same in the future.

We thank Vladimir for his interview and the photos he provided. We wish all other traders the same phenomenal success as our client has achieved. Try harder and you’ll do it together with RoboForex!

If this article inspires you or you want to tell you story, which is equally interesting and fascinating, write to us! The most exciting stories will be published in our blog.

Futures and Forex Trading Blog

What do futures traders Larry Benedict, Linda Bradford Raschke, and Marty Schwartz have in common? Each of them suffered losses that would have sent most traders packing, but ended up being some of the most successful traders in recent memory.

When it comes to the markets, it seems the road to success with paved with big mistakes — especially at the start. Here are a few of our guesses as to why.

Trade Futures?

Trade Forex?

Trading Is a Hard Skill to Learn

Trading is deceptively easy. Buy low. Sell high. Make money. But let’s take a look at just a few of the skills traders have to learn. On top of understanding the markets, they have to know how to:

  • Build a solid trading plan. Markets are extremely nuanced. Every trader needs a strategy that either works in any market condition or tells them what to do when conditions are unfavorable. Looking at a chart or two isn’t going to provide that information.
  • Manage risk. It sounds simple, but in the heat of the moment, taking a loss is challenging. It’s emotionally charged. And if you don’t watch yourself, you’ll be moving stops and fighting the market.
  • Account for what you can’t control — like slippage, earnings reports or government speeches. There is a lot that you can’t control in markets. All you can control is your entry and how you manage risk. Then, the market goes where it goes. But sometimes it will gap open or slip through your prices.

Put these elements all together and you can see why one study found that 80 percent of traders quit within the first two years. But it may also explain why so many successful traders suffer early losses. The ones who can weather the a major blow-up are rare, but they have a shot at making money.

Trading Can Be Emotional

As a trader, you make decisions in situations that are full of risk and uncertainty. Plus, your decisions impact your livelihood. These conditions cause your brain to initiate its flight-or-fight response. The stress that produces your sweaty palms, nervous stomach, and racing heartbeat also make it difficult for you to think clearly. The result is usually losses. Big ones.

Successful traders have learned to control their emotions. They don’t take losses personally. In fact, they are more likely to see a loss as an opportunity, much like Bruce Kovner describes in the book Market Wizards. Instead of falling apart after his first big loss, he went on to make a fortune. Read the details in “These 4 Money Management Tips Helped This Trader Build a $5.4 Billion Fortune.”

Successful Traders Learn from Failure

Paul Tudor Jones, the trader best known for predicting the Black Monday stock market crash in 1987, once said the secret to being a successful trader is to have “an indefatigable and an undying and unquenchable thirst for information and knowledge.” In part, that means they need to know all they can about their markets. But it might also indicate how valuable early failures are.

Successful people in all walks of life often have a story about how close they came to losing it all. Michael Jordan was cut from his high school team. The University of Southern California film school rejected Steven Spielberg more than once. Oprah Winfrey lost her first reporting job because she was too emotionally invested in the stories.

Traders are no different. The successful ones are not only resilient; they also use losses to fine tune their system. You can read several examples in “What These Traders Wish They Knew Before They Lost Huge.”

Successful traders stories. Learn how to filter information.

How many habits do you have that help your trading progress?

While great traders come in all styles and from all sorts of backgrounds, many often have certain habits in common.

It’s a simple fact: Success is frequently a direct result of routine and discipline .

Most successful investors know this, so they work hard to cultivate good habits, both in life and in trading.

Curious about what types of habits they have and how to incorporate them into your routine?

Here are seven successful trader habits that you can begin adopting today:

  1. Set goals. Top traders are extremely driven. But what fuels that drive? Their goals.

After all, you need some sort of motivation to keep going, day after day, week after week, and so on. Goals are a vital component to help day trading success.

Many of the most successful traders have very specific goals. By making clear, detailed goals that feel real and motivating to you, you can potentially create your own roadmap to success.

Once you’ve defined your destination, you can create mini-milestone goals to help you get there over time. The more clear your plan, the easier it usually is to follow.

To drive this point home: According to Business Insider , 67% of rich people put their goals into writing. Enough said.

  1. Wake up early. Time is money. The early bird gets the worm. When you mash up these adages, they add up to this basic principle: The earlier you rise, the more money-making potential you could have for the day.

Why is waking up early so great? It can help give you time to collect yourself and prepare for the trading day ahead. It can also grant you the time you might need to work out, eat, check emails, and get other tasks out of the way.

This means that once the trading bell rings, you can boost your ability to focus solely on trading.

When you’re not constantly thinking about all the things you have to do, you can potentially perform a lot better.

  1. Learning every single day. Great traders never, ever stop learning. They are deeply committed to self-improvement because they see the results that it brings to their trading.

How can traders keep learning every day? There are many ways …

Some examples: They might designate time every day to reading the paper and learning about world and business news, which could inform future trades. Or, they might spend time reading trader biographies and trading psychology books to help increase their edge in the market. Newer media, like blogs and podcasts, can also provide great resources for increasing trading knowledge.

That means you’re on the right page by reading this blog! And if you already tuned into the Steady Trade Podcast , be sure to add that to your trading education toolbox.

  1. Scan. Scanning is an important habit for traders to get into, as it’s often a vital step toward choosing strong stocks to trade.

If you’re not familiar with it, scanning is a method of searching for particular criteria within the stock market. In a way, it’s like filtering a search on a retail site, where you can choose by color, size, price, or any number of different options.

Using StocksToTrade can make scanning easy because it allows you to scan on multiple criteria. Basically, it can help you look for the just-right combination of attributes that make a stock appetizing to you. You can customize scans to your own personal trading style, which can help you scan the markets in a robust way.

  1. Research. Scanning is often even more effective when paired with other successful trader habits, like research. Top traders frequently make a habit of doing obsessive and thorough research in tandem with their scanning.

For example: Say you’ve found a stock that’s gaining and has good volume. It’s looking good, but you don’t have the full story yet. To help make a decision about whether to trade, you can back up what you found via scanning with some good, old-fashioned research.

Research the company, and look for potential catalysts that could be affecting the stock price, such as a new contract, earnings reports, or a new product release.

Gainers, volume, and a catalyst can often create a strong combination for choosing stocks. By making research a regular habit, you can gain a better grasp of your desired stocks to trade.

  1. Track trades. If you want to follow in the footsteps of many successful traders before you, make a habit of tracking your trades.

Maintaining a trading journal is kind of like the day trader’s equivalent to a ship’s voyage log. It’s a way to monitor your progress as a day trader, where you note what setups you employed and your results.

Over time, your tracking information can prove invaluable in helping you progress further in your trading career. You can start to recognize trends in the setups that have consistently made you money — and probably gain a far greater understanding of the methods that have lost money.

Armed with this information, you can focus on your strengths and begin refining your trading methods to help you potentially improve profits and reduce losses.

  1. Make trading plans. Making — and sticking to — trading plans is among the most important successful trader habits that you can cultivate.

A trading plan is like a map you make before a trade; it’s where you plan your entry, exit, and goals for the trade.

By thinking these things out beforehand, you can potentially remain more level-headed during the trade, and less prone to making emotional decisions that can result in losses.

These seven successful trader habits are common among many of the highest-performing traders out there. If you’re a new trader looking to boost your trading prowess, try cultivating these habits as part of your daily routine.

Chances are, you’ll notice that your trading confidence improves …. and hopefully, the profits will follow!

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