Do You Have What It Takes to Be A Trader

By | April 5, 2013

Markets have been on a roller coaster ride last week. These kind of markets are real test of trader.

Today’s trading lesson is going to revolve around one simple question: “Do you have what it takes to be a trader?”

I firmly believe that anyone can learn to trade successfully, it’s also true that there are certain skills and abilities that one must be willing to develop before they can become a successful trader.

If you have been reading my daily positing for a while, you know I firmly believe in having a Strong Trading Psychology, Working on Proper System and Discipline is trades.

Today’s lesson is going to bring with it an extra-large serving of honesty and insight that will make crystal clear what you need to do to become a successful trader. So, dig deep and put your thinking cap on, and when you’re finished reading leave a comment and let me know if you think you have what it takes to become a successful price action trader.

I have complied a List of 20 Question which you should answer Honestly, Any Score below 15 means You are not Fit to be a trader, Stop trading immediately and save yourself from losses. Either learn the art of trading by yourself reading Books or Get yourself a mentor.

 

  1. Do you  have a trading plan
  2. Do you cut your losses
  3. Do you define your Risk
  4. Do you add to your losing Position
  5. Do you over trade
  6. Do you let your profit run
  7. Do you keep a record and review them
  8. Do you add to your winners
  9. Do you use mutliple time frames
  10. Do you know have any Trading Goals
  11. Do you have effective money management
  12. Do you  Trade the News
  13. Do you take others  idea to affect your trading decisions
  14. Do you Withdraw Equity Regularly
  15. Do you try to pick market tops or bottom
  16. Do you keep changing trading system every other day
  17. Do you want to double your money in matter of 2-3 months
  18. Do you study Winning Traders
  19. Do you know where to exit
  20. Do you know when not to trade.

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6 thoughts on “Do You Have What It Takes to Be A Trader

  1. Ravindranathan

    trying to fit to be trader thanks for your postings

  2. lakshmi

    as per the answers i am not a fit trader. How to master myself. Kindly suggest

  3. Gorakh Wakhare

    Answers:
    1.Yes
    2. Dont have idea how to.
    3. yes
    4. did not understand the question clearly.
    5. sometimes
    6. do part booking regularly.
    7. irregularly.
    8. did not understand the meeaning.
    9. yes (hourly and daily).
    10.Yes
    11. yes (need to revise)
    12. no
    13. yes ( gurus whom I follow)
    14. yes (33% of profit)
    15. I follow trading SAR method, for me they are bottom and top)
    16. do try improve, do not change the method.
    17. yes in a year(its the trading plan)
    18. yes.
    19. yes (SAR method)
    20. SAR ( thus always in trade)

    These are my answers please give my score if possible. Also need some guidance how to improve my score.
    Thanks in Advance

    Regards

    Gorakh Wakhare

  4. Dr. Rajesh zala (M.D.)

    Sir ,
    I got your mail .
    Thanks.

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