Qualities Traders Should Have

By | October 21, 2014

Drive Wealth

1) Capacity for Prudent Risk-Taking – Successful young traders are neither impulsive nor risk-averse. They are not afraid to go after markets aggressively when they perceive opportunity;

2) Capacity for Rule Governance – Successful young traders have the self-control needed to follow rules in the heat of battle, including rules of position sizing and risk management;

3) Capacity for Sustained Effort – Successful young traders can be identified by the productive time they spend on trading–research, preparation, work on themselves–outside of market hours;

4) Capacity for Emotional Resilience – All young traders will lose money early in their development and experience multiple frustrations. The successful ones will not be quick to lose self-confidence and motivation in the face of loss and frustration;

5) Capacity for Sound Reasoning – Successful young traders exhibit an ability to make sense of markets by synthesizing data and generating market and trading views. They display patience in collecting information and do not jump to conclusions based on superficial reasoning or limited data.

4 thoughts on “Qualities Traders Should Have

  1. Haresh BARAIYA

    Thank you very much for once again giving very encouraging piece of advice for amauture trader like me
    Thank you very much
    Regards

  2. SPIyengar

    Thanks a lot…Good advice…Positive words and encouraging for enthusiastic new entrants..Keep up your good work..

  3. ashishaguthlewar54@gmail.com

    thanks a lot bro for posting so imp information for us

Leave a Reply