How would you define a trader with limited success?

Usually, we think a successful trader is someone who makes more profitable trades than losses. But what if we look at it from a different angle? I'm curious about your thoughts on this. Imagine a trader who can only handle one specific trading pair. If they venture into anything else, their whole approach falls apart since they're not familiar with that market. So, if this trader nails it with their one pair but completely bombs when trying others, would you still consider them successful?

That's not even something to be considered as a criterion. One can have more numbers of winning trades than losing trades and still not be profitable. What makes someone profitable is the win to loss ratio. You've to always get your Risk to Reward right. There are traders who have winning trades but cut them short by exiting the trades, and when they do have losing trades they allow them run deep with hope those trades will return to entry level. Look at it this way, a trader can win seven trades and lose just four but still be in great loss. Stick to what works for you. There's no competition in trading. You don't have to be everywhere to get that insignia of a trader. I believe trading is a personal race, so to say. You just stay on your own, trade and make money. You don't need anyone's validation to be good at trading. You can belong to group of traders to learn from others but don't make it a point of duty to prove anything. When I started FX trading, I used to trade so many pairs and was happy with myself as I thought that made me a trader until I learned the hard way. I had to limit my trades to EUR/US and GBP/US pairs.

Obviously you are allowed to use different criteria for success but actually, you can still be a good trader if you end up not profitable right? I always say, if you give it long enough, eventually you can record a loss overall (lifetime stats). I think you can measure different aspects and the one more difficult to assess is discipline. How many trades entered according to order (easy) and how many trades exited according to order (harder, because traders always panic close), regardless of profit and loss.

Why would I call such a trader a successful one? A skill trader must know how to read the price chart irrespective of the pair involved, if a trade doesn't know how to trade any other pair except a particular pair, just know that he is trading that particular pair like he is gambling, he is not doing a pure technical and fundamental analysis as traders usually does, he is doing a guess with assumption. Though I don't like trading so many types of pair, the maximum pair I trade is six, if I check this pair then the chart is not as clear as I wish, I will move to the next one, that's how I do till I get a clearer view of what am actually looking for, so if a trader cannot trade any other pair except one particular pair just know that he is just doing a guess work, just like gambling.

A trader who can consistently make profits from one pair is still successful, even if they struggle with others. Success doesn't always mean being good at everything; it can mean mastering one thing well. For me? It's better to be great at one than average at many.

It's good to have knowledge on other currency pairs, versatility in trading is very important because it would always come in handy but there's nothing wrong in focusing on one currency pair as a trader... you'd make more profit if you stick to one currency pair, you can have your attention divided, focus on one but if you feel like you are not getting the profit you need then you can shift your attention a bit, the market is wide so it's important to channel your focus to a certain aspect

Why not focus on what works for you, period. You don’t have to compromise things, but just stick to where you can maximize your profits and minimize committing mistakes that would lead to losses. Success is not measured on how capable you are trading on different criteria, but as long as you trade and make consistent profits, that’s already considered a success. Not every trader is given the opportunity to trade for profits, that’s why even with a small amount, as long as you come up with profitable gains, that’s already success.

I believe there is no trader who is constantly profitable on his trades. He can be profitable, but that’s also mixed up with some quite small losses on the other hand, until they learn to increase the amount of their profits, while working on their minimal losses. Now, despite of the fact that not all traders are capable enough to trade regardless if its paired or not, as long as trading comes with profits, for me that can be seen as success. But the level of success isn’t that highly developed yet, as there’s still a room to grow to be able to gain complete success on trading.

Of course, they are successful traders because they are making profits. But the question is, why do they need to force themselves to trade different pairs when they are more likely to make profits on the same trading pair? In trading, you should not be tempted by profits in different ways when you can make profits in the same way. You are good at a certain trading pair, but you may be bad at another trading pair, but there is nothing wrong with trying something new. You can try several times in small amounts until you can, failure is just a bad excuse for why you don't try again until you succeed.

No, this approach cannot guarantee that in the end, having a large number of profitable trades than unprofitable ones, the trader will make a profit. After all, you can make a profit of, for example, $ 100 for 5 trades, and for 3 losing trades you can fix a loss of 150 bucks and as a result you will have a loss equal to $ 50.

The main goal of trading is to become a successful trader. For a trader to be successful, they need to be one who wins more trades than loss. Trading one pair and becoming profitable at it is enough for any trader, you don’t need to keep trying other pairs if they don’t work for you and you keep failing when you try them. One pair is enough to make you the profit target you want. If you want your target to be reached faster and result of the pair you’re trading not very volatile, you can still increase your leverage within the size of which you can afford to risk in a trader. Success isn’t termed by many specialties you have but how well you’re perfect and get consistent result with the only specialty you’re good at.

It's a combination of many things such as risk reward ratio used as well. Imagine i get 5 trade wins and each is 10%, but then I get one loss ans the percentage loss is 60%. Do you still consider that criteria successful? I want to ask you a simple question. Define what a successful trader is.

Does the failure matter if he makes so much profit in the end? I feel like the trader you described just lacks confidence. Listening to random strangers on the internet to define your success is not a good idea IMO. Let's say, for me successful trader has a decent following on social media and whatnot, would you trust me and drop your working strategy for another uncertain result? There's a fine line between being brave and being easily swayed by unproven opinions imo.

Of course, as per Bruce Lee's quote "I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times." for me it just means that mastering one thing is way more powerful and successful than practicing everything but still a mediocre to everything. Applying it into trading, the main goal of trading is for you to have more what you invest, so it doesn't matter what coins you trade if you're profitable to one and you know it's behavior then it's already your edge, there's no need to jump to other coin to prove to yourself that you are good at every coin. Lastly, many wins doesn't mean successful. I know someone who win less but have more profit than those who have multiple wins but in the ended they are still at loss.

As long as he can continue to benefit from the same partner. Or from that one trading pair, he can be said to be a successful trader. because a trader's success is when they always succeed in making a profit from the trades they carry out. Or it could be said that the percentage level of profit is always greater than the level of loss. And sometimes I also always have a favorite trading pair. And usually as long as I can continue to make a profit from that trading pair, I always don't move to another trading pair. Usually, we can feel comfortable and find it easy to make a profit from one of the trading pairs because we already know the coin price movement patterns in the market.

As long as the strategy brings profit to the trader, this trader is successful. But there is a following nuance. It turns out that a trader is successful in one period of his career, and not in the next. What to call such a trader? It seems to me that if a trader has failed, it is difficult to call him successful. In other words, at any period of his career, a trader should make a profit. Of course, he will lose on some transactions, but in the end, he should be in profit. When such a trader switches to new trading assets, he should also remain profitable. And only such a trader can be called successful. That is, no matter what and how a trader trades, the indicator of his success will be the profit he receives. But it seems to me that such traders will be few and far between, because it is difficult. Therefore, I would also call successful traders those who are profitable \ successful in their narrow niche (for example, trading one pair).

Yes, that is what he said first and clearly the next thing/s that he said is not good as it. It is even more proudful if the thing that works for us comes from our own and not from any other/one else. We are not saying that we must only limit our selves on it, I mean once we achieve our goal for a certain period of time or once we are done in the day in our main tasks and if we still have a time left, we can also try exploring other things, only to widen our knowledge and who knows? The longer you do or practice them, might also make you capable of doing them. Trading had some luck element and it can be a blessing but the most part must go with the hardwork, but yeah, success can be measured in so many ways, be it small or a huge one.

Success isnt something being measured on how many pairs that you can be able to trade but rather this will be just that basically pertains on how well you do able to handle yourself on a volatile space. Trading is a skill that needs up for you to become sustainable and this will be your main priority once you do touch up this volatile space. It doesnt matter whether you do stick with one pair or multiple on which the main target on here is to become profitable. If you do find yourself profitable with one pair, then why you would be trying out to touch up with other pair just to make it look that you are versatile? It doesnt count on that way because this isnt talking about on how many pairs you are able to deal on with then it wont be always showcasing on how good you are as a trader. No one would be caring about on what you would gonna do because we are all thriving our own ways for us to become profitable with trading. This is our target and no matter what kind of methods or ways on what you are dealing on with. Evaluation? You are the ones will be evaluating yourself on dealing up with something specially on trading on which its impossible that you cant be able to determine or distinguish whether you are doing good or not. It will be just that depending on you on how you would be adjusting out accordingly. There are just that those times that you are that liking to see others work or on how they would executing out their trades. Sometimes you do get become jelous on what they are doing but the real thing on here that you should be focusing is into the things on where you are comfortable with and not on trying out to mimic others, because we do have our own ways on dealing up with something.

If I’m good with trading one pair and I win consistently on it, I don’t need to try other one since I know I fail trading them. If I try to trade other pairs, then I will just be gambling with my money and not wanting a win for myself. If I can trade and can be profitable through trading, I don’t need to want to be a master of all pairs. I have seen traders that consistently trade one pair and has favoured them more and if I see myself as one, then I will search no more but calm down to gather more expertise to make more money.

Success is success, you will always be successful if you stick to what’s your best capable of doing is. So if it means trading only on one pair and you make maximum profits from it, hence what’s the point of doing the other thing when you don’t have the assurance to excel from it. Most of the time, your type of mindset is what leads you to your success. If you don’t have the right mindset towards trading, then it’s not surprising why you keep on losing more than seeing yourself winning most often.