Topic: Some qualities a good trader should have (Read 1308 times)

Trading not been easy is somthing that a lot of us have seen in a very long time and before anyone starts that understanding is suppose to be there already as it profitable then it is not supposed to be made easy, so this are reasons your suppose to look so that you don't have to give up, because we know that it's not easy but the moment the rules are properly followed, the problem encountered are supposed to be properly managed and becoming an expect is suppose to be what we should be focusing on especially when you are new in the business but people want to always take shortcuts I don't know why.

But when you look at people are understanding how the market works, and if you can withstand trading i feel ot will better if they just invest and hold because not everyone can do trading but they just don't want to accept that fact and they need to understand what they actually need to do because a lot of people have made a lot of financial mistakes and this all is because they don't want to learn and when they decide to learn that is only when things will make sense.

Yes I agree that trading is not a lucky activity, most of the success in trading depends on how smart you are and how strong your intention is to continue learning, in trading there is no skill and knowledge then there will be no profit either, I understand that maybe you can get profit but most likely it happens because you are lucky at that time, but in the long run it is certain that trading without being based on knowledge and skills will eventually only make you lose a lot of money.

It can be said that discipline and consistency in learning are the keys to success, and besides that training mental and psychological is also something important to do so that you avoid what is called doubt when opening a trade, actually everyone can be a good trader and have the opportunity to be successful but usually the problem is not all of them are serious about learning.

Most beginner think trading is an easy thing that give fast money just because they see traders making money from it they think it doesn’t require much work other than just the capital you put into it, the risk involved is very high than there is no guarantee of success even for experts. It’s a 50/50 chance of success but with adequate knowledge you can minimize the risk to some extent. Just as you said it is more profitable when you know what you are doing but also it can drain your money easily when you’re not familiar with how it works.

Firstly as a trader what you need to do is to first seek for knowledge to at least understand the basics of trading and market fundamentals they will help you in your decision making process as you progress through your trading but this is what most new traders fail to understand they are just blinded by the amount of money they can make from trading instead of focusing on learning.

Trading is not easy to one. We will know about the trading information. Trading is profitable. But we know the trading how it will be working. Before investing Frist lear the marketing details how it will be working. Market price any time to up and down it not easy to guess the trading and market price. Before investing tha trading we need to learn the detail. Trading knowledge give more ideas and profit.

Here are some qualities a good trader must possess:

A good trader must have a good foundation.
A good trader must have a enough knowledge and understanding on trading, he will also have good skills and experience that he will use in terms of trading.
A good trader must be selfless and not greedy, he must be contented with what he has.
A good trader must be motivated, he must have confidence in himself, and say no to fear so that he can overcome all the difficulties and challenges that comes his way.

Emotional trading is something way too many people do and we need to learn to prevent that. It takes time but it happens, I know that for newbies that may sound like how you could be separated from your emotions as a human being because emotions are what makes us alive, but believe me when you are bored at what you do, sometimes you do it like a machine.

Do you think some McDonalds fry end up doing everything with emotions? Or a construction worker does that? Or an accountant? Marketing person? Nobody really has any emotions left after a while, they just do what they do because they want the money in the end that comes with the job.

Trading becomes like that, for some people that's just six months, for some that's ten years, it depends, and very few never lose their emotions, but most do. So just give it time, learn and study how to trade and eventually you are going to end up with zero emotions and a lot of knowledge about how to be trading in crypto world.

Yes, i do agree that emotion control would really be that relevant on the moment that you do deal up with trading because no matter how good you are in terms of technicality and theories but if you cant be able to stop yourself on being impulsive due to that kind of volatility of this market and you do made out that reaction then it will really be leading up with that kind of impulsive actions on which it will really be leading up into
such potential negative results or outcomes. Somehow there's no guarantee that even if you are on a calm mood and followed up your plans or strategies doesnt really give out that 100% precision but having no plans or disruptive kind of condition will really be leading out with those situations on which that you cant be able to bare up yourself and ending up on having that forgotten strategies.

On what i have said above that it will really be that inevitable that you will really be able to learn things accordingly on which on the time or moment that you do find yourself dealing up with trading
then you could be able to learn up things accordingly on which if you wont really be that careful then you do really end up on having that kind of negative results on severe manner.
So better be wary into your actions and learn up accordingly.

It is very important for a trader to keep his emotions under control while trading. Because trading on emotions will always lead you to losses.
Because if you trade on emotions, you will never be able to make the right decisions, because emotions will not allow you to do proper research, and you will continue to trade in a messy way.
Therefore as a trader, discipline, patience, and observation are very necessary, and for this you have to learn everything well first, to become a successful trader you have to keep yourself continuous learning and improvement.
Personally i think, The most important thing is confidence and consistency, you have to believe in yourself that you will definitely be a successful trader. Your self-confidence has to be very strong, and your goal has to be unwavering, and you have to continue working according to that goal.
When you can believe in yourself, then you can do everything. Nothing is impossible if you believe in yourself that, you can do that...

Beginners in this market, if luckily enough, will be taught about risk of trading and succeed to avoid trading. If they know about risk of trading, avoid trading as beginners, they can avoid a lot of mistakes in trading which cost them financially, not just like making mistakes and moving onward like nothing happened.

In trading, you use your money for trading and if you did bad trades, you paid high cost by losing your initial trading capital. When things are related to money, it's not like saying "I am sorry for this mistake, and I won't repeat it next times".

It's terrible if a newbie trader used leverages, and lost most of capital by market and exchange liquidation. It's nearly no chance to recover if that beginner is weak mentally and lack of discipline in trading.

That is why it is very important for beginners to have understanding of trading very well, because many beginners normally allow emotions to make them feel they have arrive when they make a good profit from their first trade, and this gives so much confidence that such profit can always be made in every trade. trading is very much unpredicted, it is very possible for a beginner to make a fine profit.

it so unfortunate  that most beginners fall for this because their ultimate interest is just to make profit first and in trading when their is no better profit it is very difficult to make profit instead one will rather be at lose.

A traders that has a successful control over his emotions has solved one of the main problems that many traders are facing because they can't keep aside their emotions from the decision they take. There should be some quality that you'll have and you'll be seen as someone that can have a successful journey as a trader. A disciplined individual is going to be a good trader and so will a smart individual too hence we don't have to wait until someone starts trading to see the potential in them.

Being a smart observer and not a procrastinator is some of the quality a good trader most possess. I think most of the quality of a good trader can be learnt hence there isn't anyone left out as if you want to become a successful trader, you can train yourself with or without a mentor and get to the goals you set.

Actually, this trade is similar to business, in trading the things we must have are knowledge, good financial management and good emotional control. In addition to what OP mentioned, Trading is about knowing yourself and improving yourself.

Usually a beginner in trading must have initially experienced a lucky stage, they made a profit when they first entered. But after that they feel good, feel trading is easy but the next day they lose, the next day they lose again, this is all because they are controlled by emotions which results in losses and finally they feel full losses. Remember, success achieved through shortcuts will also only be felt in a short time. In trading, the hardest thing is fighting yourself, so we have to fight all of this so that in the future you can become a good and quality trader.

Emotion is one of the most common problem not only on trading but also in other investment as well on which this is something that will really be that disrupting you on doing your plans or goals because on the moment that emotions do kicks in then it would really be that hard for you to make out such good decision or following your trading plan as well. When it comes into this manner then it will really be that be best that you should really know on how to deal up with these kind of problems because on the time or moment that you will really be that experiencing tons of stuffs then you would really be that making yourself way more better.
You cant really be able to make yourself to be successful if you are that someone who doesnt have that kind of flexible kind of personality and does really hate up on losing or mistakes or failures.

Qualities is something that cant really be known not until on the time or moment that you do able to enhance those skills and qualities on which this is something that you will really be able to discover out
on the time or moment that you have been able to have such kind of experience and able to learn with it.

Financial management is the main and most important thing in every activity involving money, opportunities and risks, it has no other use than one thing, namely to minimize the risk of loss, so in trading there are two important things that must be prioritized by a trader, which include learning various things to increase profit opportunities such as strategies and also risk management such as financial management, which as I said above, the benefit is to minimize the risk of loss.

Both of the above must be done optimally for the sake of balance, because it is useless if you have a good way to make a profit but on the other hand you do not have good risk management to minimize losses. Trading using a small budget amount in each trade is always recommended, especially if we talk about beginners who do not have much knowledge about what is right and what is wrong to do in every situation and when you do have enough experience and knowledge, then of course you are free to change your planning such as increasing the amount of budget and others.

Many people don't understand this, but platforms do matter because there are a lot of factors that you should look at before using a platform. When you want to get into trading, you should find an exchange that you know is trusted and reputable and has minimal fees both for trading and deposits and withdrawals. If you didn't know this, different exchanges will charge you different amounts for withdrawals and for the trades you make. So using the one with the lowest fees and good enough trust should be the best.


It depends on someone's learning abilities, I would say. Many people would learn something within a month, while others might take years to learn. The same applies to trading. For some people, it's very difficult to understand the concepts and ideologies, while for some, things seem to easy to understand and they become efficient in a short amount of time.

When we are very ready to trade or even have traded with some profits, we must have a financial plan. even some traders have made it before they trade. meaning they know how much money they can turn from trading and the funds they cannot use.
If for beginners then it is indeed advisable to use small funds to gain experience and try to understand trading at the beginning. but after starting to master trading, it will be common for traders to finally increase their trading, especially if some of the trades that have been made are successful with profits. surely that makes traders quite confident.

Yes, you have mentioned three important points that a trader must have when they want to get involved in the world of trading to achieve success in getting consistent profits every time they run a session, but from the many things that a trader must prepare, I think there are two things that are most important and must be owned by a trader, namely the desire to continue learning to get various new strategies and the second is to have good risk management, the benefit is to keep everything balanced, in the sense that when you succeed in getting some profit, you will still be able to maintain the amount of profit so that it is not lost again in the market, namely with a risk management scenario that you have designed in such a way as in terms of holding back self-confidence and remaining disciplined in planning. Another thing is using a little money every time you open a trading position is also something that is very important to apply and maintain, and also make sure that every decision you make is based on calm thinking and clear reasons.

You reveal important points that the majority of traders already know, but not all traders can understand these three points or three principles. And actually these three points are connected to each other. Like being disciplined, you actually also need patience or fortitude or you could say emotional or psychological control in trading. Because it is impossible for someone to be disciplined in trading if he does not have proper control in managing emotions in trading itself. And actually being able to control our emotions is also related to our insight and skills in making the analysis itself. Whether technically, sentimentally or fundamentally. Because usually those who lose control in trading are those who don't know what they are doing. They speculate more without careful analysis and just follow trends without knowing why the trend occurs. Usually they are people who panic easily and suffer a lot of losses. We can take steps calmly in trading and maintain our mentality well because we know what we are doing. For example, if we know positive important news that will occur tomorrow which will have a big impact on the market (market sentiment is concluded after a fundamental approach) then we will be able to calmly hold a coin that will be most affected by this important news. Although usually before there is a spike there will always be a quick correction which can make weak people or people who don't know the information come out. And after that, the market moves up and makes people who had left panic and come back in when the price is high.

And one additional point from me that a trader must have is relationships. We must have relationships with many other traders who of course we trust and share information so that we can get information faster than some of the news media out there. Because if we enter when the news has spread then we have lost one step. Well at least this is my opinion.

The most difficult thing is to form discipline and form a strong mentality, not greedy and also not afraid when seeing opportunities in front of the eyes, many of us often make mistakes in trading when greed instantly appears, even though what happens to the assets being traded is a bull trap such as in long positions.

I often experience this in my trading, and my soul is still pounding with fear when I already have a position, especially when liquidity and we are limited to the level of liquid peicw positions.

Platforms nowadays don't play that much of a role - you will trade on CEXes mostly, or a big DEX if you need the security intact.
Better yet just to be prepared for what can happen out there.