Psychology system, Traders

Qualities required to be successful trader

sucess or failure

Many people take to trading in the mistaken belief that it is the simplest way of making money. Far from it, I believe it is the easiest way of losing money. There is an old Wall Street adage, that “the easiest way of making a small fortune in the markets is having a large fortune”. This game is by no means for the faint hearted. And, this battle is not won or lost during trading hours but before the markets open but through a disciplined approach to trading.

1. A successful trader has a trading plan and does his homework diligently

2. A successful trader avoids overtrading

3. A successful trader does not get unnerved by losses

4. A successful trader tries to capture the large market moves

5. A successful trader always keeps learning

6. A successful trader always tries to make some money with

      less risky strategies as well

7. A successful trader treats trading as a business and keeps

      a positive attitude

8. A successful trader never blames the market

9. A disciplined trader keeps a cushion

10. A successful trader knows there is no Holy Grail in the market

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Moneymunch's editors' staff. They have been writing/working on the financial markets for over two decades, having previously worked with popular financial blogs and newspapers.

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