how do winning traders think?

@patrinova_athenia - 6 months ago - Forex Education

Since winning traders are just about 1% and losing traders are about 99% then the winning ones must have a unique way of thinking, it suggests that they dont go with the crowd. What do you guys have to say about this?

@ozgal_galzo - 6 months ago

When profitable traders notice that the market is moving in their favor, they open even more trades not fearing that the market will reverse direction. WHen the market is going against them they quickly close the trade instead of hoping that the market will reverse direction. This keeps their losses minimal and their profits maximal.

The unprofitable/losing traders do the opposite; when they have a winning trade they quickly close it and take the little profit for fear that the market will reverse direction. When they have a losing trade, they leave it to run hoping that the market will reverse direction and they wont take a loss.

if you look at the trading account history of a winning trader you will notice few high profits and many little losses. For a losing trader you will see many big losses and few little profits.

Before you start trading on a new account, you should envision how you want your trading account history to look like, ideally it should have few huge profits and many little losses.

@tiny_ox - 6 months ago

They get out of losing trades almost immediately, they dont give a loss time to grow. Its the hardest thing to do and even after I have said it here many traders wil still not be able to do it. Its like people freeze when they see losses

So basically, winning traders are comfortable with seeing small losses on their balance sheet, they dont aim to win every trade.