What characteristics do have successful traders?
If you want to be successful in investing, you would better to know the characteristics of successful traders, and then try to achieve those useful characteristics.
#1: Expert traders are independent, they consult whit other traders but finally decide by themselves.
#2: They control their emotions; don’t allow fear and greed affect on their decisions.
#3: Successful traders understand the market, they know it is impossible to be winner in all trades but try to improve the winning per losing trade’s ratio.
#4: They stay in the present and view events truthfully, they aren’t regretful, review the past only to improve their performance in the future.
#5: Successful traders set an objective; they set an amount of money they want to make in a certain time. Many traders say: “how can we set a goal when we don’t know where the market goes.” They said that because they don’t know how market has potential to make much amount of money. The point for setting an objective is that it must be achievable; in other word you most set it depend to your ability and when achieve that set a new objective.
What to do to become a successful trader?
You must try and put time to know about yourself, it is crucial for you to learn how to change your behavior an attitudes and make them consistent with your trading objectives.
You have to get used to being wrong, because you are going to be wrong most of the time. The key is to keep your emotions under control, and try to get rid of losers.
Successful traders have many wonderful characteristics, but it doesn’t mean that you must achieve all of them to become a successful trader. It is important to learn the most effective characteristics and always try to improve them.