1 you should be disciplined
I would say that this kind of trait willl really be the most important thing when you do really make out some dealing up with trading on which you will really be needing up that kind of discipline on the time or moment that you do deal up with some volatility market on which we know that when it comes into this aspect hen self discipline specially on the moment that you are making money is really that something which you would really be needing. There's no way that you could really be able to make yourself that easily makes money without having those kind of trials and different conditions that pertains about making and losing money.
Dealing up with volatile market is never been easy and if you do make yourself that being having no discipline on actions you do take then you do end up on a disaster.
Trading skills isnt something that you could really be able to obtain in a short period of time and it will really be that much needed that proper experience and knowledge on which this is something that not all
will really be not able to make yourself that having be able to obtain such skills without passing up some challenges.
Topic: Some qualities a good trader should have (Read 963 times)
Before anything, what you need to know is how to do proper management of your assets, and before doing so, you should know that you're in the right platform to meet quality projects.
Am new here, and with my little knowledge am sure a good trader should have all the patience he/she can get.
Patience is needed, you have to be patience in terms of lost, trading is not always about benefits at all times, you will always run into lost a lot and that might trigger you to want to back out, but with patience you can scale through.
This is a low-key character that every trader and investor needs to have. You're right that patience is needed because it's all about proper timing for the trades that we do so we can profit. Without patience, you're bound to lose even us, holders, we're all patient and that's what we've learned for so long that it's an important attribute that someone needs to have in this market.Patience is needed, you have to be patience in terms of lost, trading is not always about benefits at all times, you will always run into lost a lot and that might trigger you to want to back out, but with patience you can scale through.
Another thing is discipline, by disciplining yourself you will have the enablement to purse a goal you have set, and it will help you to be forced at all times.
Trading is a lose and gain thing if you aren't making profit you have to quit.
It comes up with discipline and I think that when you're patient, you're also disciplined. So it comes with a package after learning one and the other. Trading is a lose and gain thing if you aren't making profit you have to quit.
Patience is needed, you have to be patience in terms of lost, trading is not always about benefits at all times, you will always run into lost a lot and that might trigger you to want to back out, but with patience you can scale through.
Another thing is discipline, by disciplining yourself you will have the enablement to purse a goal you have set, and it will help you to be forced at all times.
Another thing is discipline, by disciplining yourself you will have the enablement to purse a goal you have set, and it will help you to be forced at all times.
Patience and disciplined will help you as a trader to realize your profits. Having patience already means you're disciplined because it's only a discipline trader that can exercise patience with the market. When you have patience it shows you understand the market and you can only understand the market when you have gone through the stages of learning to become a trader. You don't understand the market by just reading without any practice.
Being a disciplined trader, there isn't anything that the market will do that will make you bothered because when losing, you won't be be panicking and when being victorious, you won't be over joyous but stay disciples and keep winning. Some mistakes traders make is to celebrate too early when they haven't taken out their profits, don't do that as a trader.
Am new here, and with my little knowledge am sure a good trader should have all the patience he/she can get.
Patience is needed, you have to be patience in terms of lost, trading is not always about benefits at all times, you will always run into lost a lot and that might trigger you to want to back out, but with patience you can scale through.
Another thing is discipline, by disciplining yourself you will have the enablement to purse a goal you have set, and it will help you to be forced at all times.
Trading is a lose and gain thing if you aren't making profit you have to quit.
Patience is needed, you have to be patience in terms of lost, trading is not always about benefits at all times, you will always run into lost a lot and that might trigger you to want to back out, but with patience you can scale through.
Another thing is discipline, by disciplining yourself you will have the enablement to purse a goal you have set, and it will help you to be forced at all times.
Trading is a lose and gain thing if you aren't making profit you have to quit.
Never push things up in time - only by metrics and factors that you can see and understand you should move out and open or close positions due to them.
It will never be easy, but it surely will be rewarding if you master that.
What if it is about a deadline that needs to be finished on time? Or if we think we are already ready? Sometimes pushing is only what we need to keep on moving from getting stuck in a rut. Metrics and factors are still there because if not, we can only fail. I actually think this is only easy because we already know that they are essential for our success than just play or act blindly.It will never be easy, but it surely will be rewarding if you master that.
Sometimes, people are only too confident and this is the one that kills them. They know it and that is why they regret at the end. Maybe they will still try again though and this time they will now be serious. Guess all are still like this. As they say, none is born to be perfect.
The mental fortitude is very important for every trader, you must learn to master your emotions. A lot of people blow up their trading accounts because they lack self-control, after losing money in a trade their next approach would be a revenge trade to get back what they lost in the market. Trading without discipline is preparing yourself for setbacks and failure. Always remember to exercise patience, you can't always get back what you have lost in a day sometimes it might take a while but you must learn to manage your emotions.
1 you should be disciplined
2 should have good intellectual attributes
3 should have the mental fortitude for trading
Well this is my opinion I'm open for any corrections you may have
So I think that emotional control is one key attributes a trader must have, because if you can't control your emotions, all your trading skill like patience, and knowledge on technical analysis are a waste, because you will still be losing money, so emotional control is very much important as a trader.
Then another skill a trader must have is to know when to stay out of the market, because their are so many opportunities in the market, but if you don't know when to stay off, you wouldn't be profitable on the longer run.
If you have a strong will, people can do anything. I want to say that to be a good trader, the most important thing is to control your greed. If you trade with 100% of your money, then there is a high chance of you losing. (Because then you make mistakes in trading due to excitement, respect, a little mistake) For that, you have to control your greed first, then you cannot get overly excited thinking of a sure short.
All the things that @OP describe is a must to be a good trader. Maybe I can add one more which is never give up that related to the mental fortitude for trading. That is because many trader decide to stop trading once they lose consecutively and saying that trading is not for them. That is wrong because as long as they want to learn more about trading and willing to spends more time to research from many lessons, they will see their skills improve. Although the skill will not improve fast, but they can trade with better than before.
Although trading is not easy but with their skill, they can minimize the losses not to becomes bigger. They know when they can trade, when just to watch the market moves, when they must quit trading and else. That is from their lesson and experienced so they will becomes a pro trader. It needs time to be a pro trader but with a strong will, they will have that chance.
Although trading is not easy but with their skill, they can minimize the losses not to becomes bigger. They know when they can trade, when just to watch the market moves, when they must quit trading and else. That is from their lesson and experienced so they will becomes a pro trader. It needs time to be a pro trader but with a strong will, they will have that chance.
You are correct, all of this is quite normal for traders to be aware of, but many individuals are unable to do so since they are only interested in making money from trading without understanding why they are doing so. If you don't understand anything about trading, it's like putting money on fire and watching it burn without getting anything out of it. Trading isn't for everyone because many people will try every time but still achieve their goals, so some people don't waste time and move on to something else where they can try to get something out of it. But I usually believe that anything is possible for a person who is patient enough to understand things and be professionally like others, because I don't think they have something that is impossible. But if you says you can't wait patient anything you will always be difficult for you.
The most important thing in trading is to be aware of what traders must do to make money. Many of the traders are not able to learn the things that are needed so that traders can produce what they have to do, many traders are unable to apply certain rules so they move on to other things that produce results quickly,I think whatever is done in a hurry without waiting patiently will This is a big risk for a trader. Don't complicate yourself for the sake of an instant desire in trading, it could be a bad start in the future.
Never push things up in time - only by metrics and factors that you can see and understand you should move out and open or close positions due to them.
It will never be easy, but it surely will be rewarding if you master that.
Another good quality is to be a down to earth person, basically many traders fail because they expect they will make a fortune in a matter of weeks, thinking that since some people were able to get that kind of success then they can do it too, not realizing those people just got lucky and there is not really any way to replicate their results, then a good trader needs to keep their expectations in check, because if they cannot do it then it will not be long until they fail.
A trader, if disciplined, will also become down to earth. Indeed greed and pride can both kill and keeping those emotions in check among others is an important part of becoming a good trader.Being stoic and learning how to deal with people gives you good insights on how to face life and the same can be applied to trading too. No situation is such that it cannot be tackled, its just that most of us lack the proper mental fortitude to remain calm through it. But this can be learnt through practice and thus trading takes time to learn too. Dummy trading has its role, provided the person takes it seriously, assumes that their money is at stake and approaches the trade with such situation in mind.
Yeah, some think it's obsolete (about dummy trading), however, it's a great practice in my book once you think of it responsibly and take the money given as your real depo.
Of course, talking about tackling emotions is much easier said than done, however, it's essential for success to be achieved.
Another good quality is to be a down to earth person, basically many traders fail because they expect they will make a fortune in a matter of weeks, thinking that since some people were able to get that kind of success then they can do it too, not realizing those people just got lucky and there is not really any way to replicate their results, then a good trader needs to keep their expectations in check, because if they cannot do it then it will not be long until they fail.
A trader, if disciplined, will also become down to earth. Indeed greed and pride can both kill and keeping those emotions in check among others is an important part of becoming a good trader.Being stoic and learning how to deal with people gives you good insights on how to face life and the same can be applied to trading too. No situation is such that it cannot be tackled, its just that most of us lack the proper mental fortitude to remain calm through it. But this can be learnt through practice and thus trading takes time to learn too. Dummy trading has its role, provided the person takes it seriously, assumes that their money is at stake and approaches the trade with such situation in mind.
You are correct, all of this is quite normal for traders to be aware of, but many individuals are unable to do so since they are only interested in making money from trading without understanding why they are doing so. If you don't understand anything about trading, it's like putting money on fire and watching it burn without getting anything out of it. Trading isn't for everyone because many people will try every time but still achieve their goals, so some people don't waste time and move on to something else where they can try to get something out of it. But I usually believe that anything is possible for a person who is patient enough to understand things and be professionally like others, because I don't think they have something that is impossible. But if you says you can't wait patient anything you will always be difficult for you.
The most important thing in trading is to be aware of what traders must do to make money. Many of the traders are not able to learn the things that are needed so that traders can produce what they have to do, many traders are unable to apply certain rules so they move on to other things that produce results quickly,I think whatever is done in a hurry without waiting patiently will This is a big risk for a trader. Don't complicate yourself for the sake of an instant desire in trading, it could be a bad start in the future.
You are correct, all of this is quite normal for traders to be aware of, but many individuals are unable to do so since they are only interested in making money from trading without understanding why they are doing so. If you don't understand anything about trading, it's like putting money on fire and watching it burn without getting anything out of it. Trading isn't for everyone because many people will try every time but still achieve their goals, so some people don't waste time and move on to something else where they can try to get something out of it. But I usually believe that anything is possible for a person who is patient enough to understand things and be professionally like others, because I don't think they have something that is impossible. But if you says you can't wait patient anything you will always be difficult for you.
The most important thing in trading is to be aware of what traders must do to make money. Many of the traders are not able to learn the things that are needed so that traders can produce what they have to do, many traders are unable to apply certain rules so they move on to other things that produce results quickly,I think whatever is done in a hurry without waiting patiently will This is a big risk for a trader. Don't complicate yourself for the sake of an instant desire in trading, it could be a bad start in the future.
Discipline is required to successfully manage any work. A trader has to constantly make various strategies and plans but he must follow the plan. The market sentiment may change from time to time but the trader must remain consistent with his target.
Many times greed works in traders which traders need to understand. If they fall into that temptation, they will surely face huge losses. A trader should set a limitation on his profit. Especially those who are short term traders can be satisfied with a small profit. Then they can definitely succeed in trading.
There is no guarantee that a trader will be successful just by following certain guidelines to make profit. Appropriate decision should be taken by understanding the market well. Otherwise there is a possibility of exposure to loss at any time.
Although the theory is not very useful in this platform but if you know it is possible to do well in trading.
Many times greed works in traders which traders need to understand. If they fall into that temptation, they will surely face huge losses. A trader should set a limitation on his profit. Especially those who are short term traders can be satisfied with a small profit. Then they can definitely succeed in trading.
There is no guarantee that a trader will be successful just by following certain guidelines to make profit. Appropriate decision should be taken by understanding the market well. Otherwise there is a possibility of exposure to loss at any time.
Although the theory is not very useful in this platform but if you know it is possible to do well in trading.
Trading responsibly means you will learn much more in the long run.
Otherwise, you may not see the boons from your positions in the end, thus ensuring that you wouldn't succeed in the long run.
Discipline is required to successfully manage any work. A trader has to constantly make various strategies and plans but he must follow the plan. The market sentiment may change from time to time but the trader must remain consistent with his target.
Many times greed works in traders which traders need to understand. If they fall into that temptation, they will surely face huge losses. A trader should set a limitation on his profit. Especially those who are short term traders can be satisfied with a small profit. Then they can definitely succeed in trading.
There is no guarantee that a trader will be successful just by following certain guidelines to make profit. Appropriate decision should be taken by understanding the market well. Otherwise there is a possibility of exposure to loss at any time.
Although the theory is not very useful in this platform but if you know it is possible to do well in trading.
Many times greed works in traders which traders need to understand. If they fall into that temptation, they will surely face huge losses. A trader should set a limitation on his profit. Especially those who are short term traders can be satisfied with a small profit. Then they can definitely succeed in trading.
There is no guarantee that a trader will be successful just by following certain guidelines to make profit. Appropriate decision should be taken by understanding the market well. Otherwise there is a possibility of exposure to loss at any time.
Although the theory is not very useful in this platform but if you know it is possible to do well in trading.
all of this is quite normal for traders to be aware of, but many individuals are unable to do so since they are only interested in making money from trading without understanding why they are doing so. If you don't understand anything about trading, it's like putting money on fire and watching it burn without getting anything out of it. Trading isn't for everyone because many people will try every time but still achieve their goals, so some people don't waste time and move on to something else where they can try to get something out of it. But I usually believe that anything is possible for a person who is patient enough to understand things and be professionally like others, because I don't think they have something that is impossible. But if you says you can't wait patient anything you will always be difficult for you.
If you only focus on "making more money", then you are going to forget about all the details that you are going to need for something like this. Obviously everyone trades just to make money and there is no other reason to trade, but if you focus on the most amount of money then you are forgetting how that is done. Studying, learning, experience, learning from mistakes, all of these are important and if you just focus on making most money then you are going to be looking for the next trade and nothing more and you will be rushing and making a mistake.This is why I believe we should be careful with what we have and nothing more. I believe we could be making some money while learning about it and not rush into this at all. I think this will be a very tough situation but we can't really see what is going to happen and this should be a very hard to focus in the future. This won't be a simple situation, but we can make this work one way or another.
Note: Keep in mind a reason is necessary why you want to be a trader why not an employee why not to be an enterprise and anything else you can be.
I think people love trying the alternative and for that he decides to go into trading which is fine and I know but, have he also considered the effects? Well, everyone with their choice of side hustle or additional source of income but sincerely, before someone can stabilized in trading there would be so many lessons which he must undergo before definitely start earning, so as for me it's advisable to look into investment than trading.It should be done slowly, step by step.
The market won't be generous to you without the needed tools, knowledge, and expertise.
For some time, you would need to combine your work and your side job, per se.
Only then you would be able to take a decision whether to go full-on trade mode or not.
Those are very common basic things that traders need to know, but in practice not all traders are able to fulfill these things. In fact, there are still many traders who still trade with a gambling mindset or they just enter the market and then exit with a loss. Because saying it is very easy compared to practicing it, but if a trader is able to practice it, it can make them a good trader as you said.
You are correct, all of this is quite normal for traders to be aware of, but many individuals are unable to do so since they are only interested in making money from trading without understanding why they are doing so. If you don't understand anything about trading, it's like putting money on fire and watching it burn without getting anything out of it. Trading isn't for everyone because many people will try every time but still achieve their goals, so some people don't waste time and move on to something else where they can try to get something out of it. But I usually believe that anything is possible for a person who is patient enough to understand things and be professionally like others, because I don't think they have something that is impossible. But if you says you can't wait patient anything you will always be difficult for you.
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