A good trader should trade with small amount of money. Wait for bear time and hold more money than trading. Out of 100% money that should be used for trading and holding, a good trader will hold 70 to 90% of the money and only trade with 10 to 30%.
A trader should stop trading if he has not been making money for 2 years or more. Trading is not what is easy. It is very similar to gambling if talking about risks.
Topic: Some qualities a good trader should have - page 6. (Read 1137 times)
Well although I'm new to this platform I'm not actually new to trading and during the little time that I have been trading I would love to share with you some of the qualities I think a good trader should have
First we should know that trading isn't gambling and isn't about luck if you wish to become a successful trader there are some qualities you should possess
Although I myself do not possess all these skills
1 you should be disciplined
Know that discipline is one of the key to success when trading
it is the ability of a trader to be able to adhere to trading plans the he or sha has created for themselves, ensures he follows strategies and make logical decisions that are not controlled by emotions,should have consistent risk management,and patience
2 should have good intellectual attributes
For a trader who intends to be successful he or she have this quality as it enables you to be able to take good decisions while trading you should be able to properly and carefully analyse the market and also be very adaptable this is because the market is constantly changing and you should be able to change your strategies to match this change you also be willing to learn you can never know it all when it comes to trading always have room to learn more never be overconfident
3 should have the mental fortitude for trading
This basically means that you should be mentally ready for the ups and downs that come with trading especially the downs you should try as much as positive to have control over your emotions this will enable you to be able to avoid over trading, avoid impulsive decisions and revenge trading
Well this is my opinion I'm open for any corrections you may have
First we should know that trading isn't gambling and isn't about luck if you wish to become a successful trader there are some qualities you should possess
Although I myself do not possess all these skills
1 you should be disciplined
Know that discipline is one of the key to success when trading
it is the ability of a trader to be able to adhere to trading plans the he or sha has created for themselves, ensures he follows strategies and make logical decisions that are not controlled by emotions,should have consistent risk management,and patience
2 should have good intellectual attributes
For a trader who intends to be successful he or she have this quality as it enables you to be able to take good decisions while trading you should be able to properly and carefully analyse the market and also be very adaptable this is because the market is constantly changing and you should be able to change your strategies to match this change you also be willing to learn you can never know it all when it comes to trading always have room to learn more never be overconfident
3 should have the mental fortitude for trading
This basically means that you should be mentally ready for the ups and downs that come with trading especially the downs you should try as much as positive to have control over your emotions this will enable you to be able to avoid over trading, avoid impulsive decisions and revenge trading
Well this is my opinion I'm open for any corrections you may have
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