Characteristics of Successful Traders

1. CONFIDENCE: absolutely essential in an environment that feeds on emotional




instability.

2. TRUST: if you cannot trust yourself who can you trust? Trust your rules, trust
your edge, trust that you will do the right thing-no matter what!

3. FOCUS: you will never learn all there is to learn about the market. Push your ego
aside and focus on one market and one edge.

4. ACCEPTANCE: you have to accept what the market is willing to give or you
will give the market what it wants to take.

5. RESPONSIBILITY: you and you alone are responsible for the money you lose
and the money you make. Take the credit for both. Either way you deserve it.

6. PATIENCE: The market is not the place to learn patience, it is the place to
practice it.

7. RULES: the market has no rules and no one else will do it for you. Develop rules
for entering AND exiting trades before trades are made.

8. RESPECT: you have to respect the market for what it is not for what you want it
to be. The market has a logic all its own. You may not like it but you have to
accept it.

Category:

Education

Tags:

• Anirudh
• 28
• 12
• 2010
• Cot
• MOvie
• 02