What it takes to become a Successful Trader?

In this Face2Face video, our host Mr. Vivek Bajaj, co-founder of StockEdge and Elearnmarkets, engages in a conversation with Mr. Jack Schwager, Founder of Fund Seeders. They discuss trading as a career and how individuals can become successful traders with proper guidance. The video covers various trading aspects applicable in the global market. One common question among traders is how to achieve success and maximize profits while minimizing losses. This video serves as a guiding resource for those seeking effective techniques in trading.

Schwager emphasizes that analysis is a crucial component of any trading approach, regardless of whether one adopts a fundamental or technical approach. He acknowledges that not everyone can start as an analyst but encourages everyone to engage in analysis as a hobby to gain market knowledge. He debunks the myth that constant market observation qualifies as analysis. He stresses that constantly monitoring the market is counterproductive and that it is not always necessary to succeed at trading. 

He further discusses the importance of selecting a suitable timeframe for technical analysis, aligning trading strategies accordingly and understanding its strengths and limitations. He also touches upon swing trading, options trading, algorithmic trading, and a few others. He then highlights the key traits of a successful trader: risk management, discipline and flexibility. Long-term profitability results from combining these qualities and a clearly defined technique.

Watch this video to learn from Mr. Jack Schwager's experiences and the essential characteristics that successful traders share. Learn how putting risk management, discipline, and flexibility first will improve your trading experience and increase the likelihood of long-term profitability.