Discipline . Patience . Adaptability . Mental Toughness . Independence . Forward-Thinking
What makes a successful trader? Apart from having the knowledge and winning, a successful trader is someone who builds these characteristics in themselves over the time they are in the field. Of course, we are all different individuals and we do not become successful overnight. As cliché as it sounds, knowledge and hard work indeed create successful people. However, the mindset and attitude that you decide to instill in yourself brings you forward to the next level.
Being disciplined is the first step to progress in your work, not only for trading but in other things that you do. Once you have the discipline in you, all the other traits would come by on its own. Even if it is not all, you will have at least 3 or 4 more already developed. Your characteristics determine your attitude and that will affect your decision making when you trade.
Keep this in mind - successful traders aren't born with these traits, neither were they born with all the knowledge that they have. Just like knowledge, characteristics can be built if you are willing to learn and grow. All these traits are integrated - it links with one another. Character building does not happen in a blink of an eye or will it be a bright experience for all.
At some point, traders face wins or losses and some can be quick to give in to their weaknesses. In a positive way, you can balance out these with strengths which can help you lighten the damage of your weaker traits. Know your own strengths and weakness, make them work together.
If you would prefer to work in a community of Traders, book a tour with us and come down to TradingPLC to take a look at our co-working space.
“The mind is a fascinating instrument that can make or break you.” ― Yvan Byeajee