5 qualities of a top trader

[John Starks]

5 QUALITIES OF A TOP TRADER

 

Talking about qualities of top traders means talking about some of the characteristics that you will find in successful traders. During my research I found out about some five strong qualities that affects a traders performance in the market.

 

1. ACCEPTING TRADING RESULTS AS THEIR OWN PRODUCE

Top traders believes that they are responsible for any of their trading result. They will never shift blames on any form of external source or any other thing. This is the mistake most traders do they often play the blame game, blaming one indicator or the other for their flaws in the markets. This is what you will not find in top traders, they accept responsibility for the results they come out with in the markets.

 

2. THE INTERSET AND DESIRE TO REALLY UNDERSTAND THEMSELVES

No one can really understand how he/she creates results if the person does not first understand himself/herself intimately. This is also true in the trading world. The desire to truly know yourself will greatly improve your results in the markets.

Great traders continually study and challenge themselves, their thinking, their actions and their reactions.

 

3. DISCIPLINE TO CONTINUALLY WORK TO IMPROVE THEMSELVES

Discipline creates excellence. Top traders continually work to improve themselves. The study and research never stop. The market is dynamic so it needs to be followed day in day out with a lot of study and research. A top trader or potential top traders always work to develop a discipline that makes them improve themselves.

 

4. THE ABILITY TO STRATEGIZE WELL

Top traders execute their strategies based on robust business plans that they have created to guide their trading. They have taken the time and effort to form meaningful objectives. They have also developed effective strategies to reach those objectives by understanding the multiple scenarios that are possible and how they will respond.

 

5. THE ABILITY TO GET IN THE ZONE

Top traders can become one with the market and accurately sense what it is doing. They have the ability to live in the present moment without being influenced by the past or the future. It's a very intuitive state and often gives them a total sense of how successful their moves will be in the market even before they make them.

 

Now, take a look at yourself and consider honestly if you have what it takes to be a top trader. Are you one of them ?

Have a splendid time trading.

[Mets]

I agree with johnstarks comments. They breakdown what I have said before into very detailed explanations:

 

A successful trade is something that ONLY the individual trading can define. Obviously, any winning trade is successful in its own right. However, what it means to you personally is where it matters most.

 

The biggest question any budding trader should answer is, "why am I trading in the first place?". Hopefully, the answer you come up with is not, "to make money". That definition is not refined enough and needs to be broken down into your true desires beyond just making money. You should look at your trading as a business and take every aspect of it seriously. By defining all the specifics, you are essentially coming up with a business plan.

 

The reality is that most decisions about successful trading take place when you are NOT trading. Key decisions are made in your mind before you even take on a trade. Once you get a system down and live by the rules of that system, the majority of your battle is dealing with things on a personal level. Things such as your ability to handle when the market goes against you and your ability to not go against your own rules whether you are up or down.

 

To me, this is what successful trades are made up of.

[pedobear]

Well said, that's the traits a trader must have

[Mang_Ncep]

great post, mr. johnstarks..

hopefully i can be top trader with my FBS account.. :D

[alify]

Nice thread, if we wanna be sucessful trader we must disclipine, learn and learn about trading forex, wanna received advice from other that can make our trading skill be better. :)

[SamuraiTrader]

This post mostly rings true. As someone who has been trading for almost a decade and a chunk of that full-time I agree with most of the above. It is a continuous battle with one's self and you must always strive to improve your mental game. I also have a number of friends who are professional traders and can attest that the above is true for them as well.

[alify]

This post mostly rings true. As someone who has been trading for almost a decade and a chunk of that full-time I agree with most of the above. It is a continuous battle with one's self and you must always strive to improve your mental game. I also have a number of friends who are professional traders and can attest that the above is true for them as well.

 

Great, glad to hear that.

And we must be able to control your emotions if we are to be a successful trader. :)

[fxboard]

5 QUALITIES OF A TOP TRADER

 

Talking about qualities of top traders means talking about some of the characteristics that you will find in successful traders. During my research I found out about some five strong qualities that affects a traders performance in the market.

 

1. ACCEPTING TRADING RESULTS AS THEIR OWN PRODUCE

Top traders believes that they are responsible for any of their trading result. They will never shift blames on any form of external source or any other thing. This is the mistake most traders do they often play the blame game, blaming one indicator or the other for their flaws in the markets. This is what you will not find in top traders, they accept responsibility for the results they come out with in the markets.

 

2. THE INTERSET AND DESIRE TO REALLY UNDERSTAND THEMSELVES

No one can really understand how he/she creates results if the person does not first understand himself/herself intimately. This is also true in the trading world. The desire to truly know yourself will greatly improve your results in the markets.

Great traders continually study and challenge themselves, their thinking, their actions and their reactions.

 

3. DISCIPLINE TO CONTINUALLY WORK TO IMPROVE THEMSELVES

Discipline creates excellence. Top traders continually work to improve themselves. The study and research never stop. The market is dynamic so it needs to be followed day in day out with a lot of study and research. A top trader or potential top traders always work to develop a discipline that makes them improve themselves.

 

4. THE ABILITY TO STRATEGIZE WELL

Top traders execute their strategies based on robust business plans that they have created to guide their trading. They have taken the time and effort to form meaningful objectives. They have also developed effective strategies to reach those objectives by understanding the multiple scenarios that are possible and how they will respond.

 

5. THE ABILITY TO GET IN THE ZONE

Top traders can become one with the market and accurately sense what it is doing. They have the ability to live in the present moment without being influenced by the past or the future. It's a very intuitive state and often gives them a total sense of how successful their moves will be in the market even before they make them.

 

Now, take a look at yourself and consider honestly if you have what it takes to be a top trader. Are you one of them ?

Have a splendid time trading.

 

noce points...