| be telling you about 15 characteristics of a very | | | | educating yourself about what you want to know |
| successful trader. | | | | and sticking to your strategy when the going gets |
| Trading in stock isn't everyone’s cup of tea. | | | | rough. |
| Some people can do it and some can't. Even among | | | | 10. A successful trader is disciplined. Very disciplined. A |
| the some who can, not everybody can be successful | | | | successful trader will do what he needs to do, even |
| at it. While there are no hard and fast rules on what | | | | if he isn't in the mood. Discipline also means Sticking |
| makes or doesn't make a successful stock trader, | | | | to your strategy, not abruptly buying or selling on a |
| those Wall street Wizards that you hear about who | | | | whim, or because of a" hot tip" |
| made the most in the least amount of time, all | | | | 11. A successful trader knows the difference |
| appear to have certain characteristics in common. | | | | between defensive and offensive behaviour, and |
| 1. Successful stock traders are able to go against | | | | when to use each. - protect your money first, profit |
| their natural instincts. | | | | later. |
| 2. Successful traders have a simple system. No | | | | 12. Successful traders don't eavesdrop on rumours or |
| matter which technique you use as long as you stick | | | | get emotionally involved. To be a successful trader |
| to it. A Successful trader knows their technique and | | | | you have to be very hard on yourself. Your have to |
| makes trades based ONLY on their system. "The | | | | be able to resist the urge to prove you are right and |
| secret to being a winner is consistency of purpose". | | | | be ready to make mistakes.. You also want to be |
| You want to improve a separate strategy for getting | | | | able to not let emotions affect your decisions. Setting |
| into a position and for exiting one. | | | | up stop loss points for every decision you make is |
| 3. Successful traders are risk Adverse. Successful | | | | something that you are going to have to do. That will |
| traders don't like losing money and prohibit | | | | mean more than occasionally admitting that you are |
| themselves before losing too much, even if it means | | | | wrong. You and your portfolio will survive and you will |
| admitting they made a mistake. | | | | be able to get back into the position again when |
| 4. Successful traders are willing to make mistakes. | | | | trends signify that the time is right. You will have to |
| Successful traders have the right and ability, not to | | | | learn to disregard any emotional ties you have to |
| do the right thing, but to do the wrong thing. It's the | | | | your stock and make quick stock trends your |
| ability to make your own mistakes. | | | | master. You will miss the lowest entry points and the |
| 5. Successful traders don't care about being | | | | top selling points, but you will be able to sleep at |
| embarrassed by taking a loss. Successful traders | | | | night. You will need to learn to get out of a stock |
| expect to take losses and know when to cut them. | | | | position before your profits turn into losses. |
| 6. Successful traders know, or learn how to explore | | | | 13. A successful trader knows themselves. Successful |
| stocks. Many traders only use precise analysis, but | | | | traders must be attentive of their strengths and |
| you may want to learn to use fundamental analysis | | | | weaknesses. Your strengths and weakness will |
| as well. | | | | become very important. Play on your strengths when |
| 7. Successful traders lead balanced lives. We all know | | | | you can. |
| the pleasure of the pursuit and the stock market can | | | | 14. A successful trader knows their investments. |
| be addicting, a successful trader is one who knows | | | | Your investments are almost as important as you |
| when to move away and can. | | | | are. Know the past history of the stock and their |
| 8. A successful trader is Patient. A successful trader | | | | strengths and weaknesses as well. |
| let’s winning positions run, but is able to back | | | | 15. A successful trader sticks to the rules. The |
| out when proven wrong. Patience can mean | | | | system is there for a reason. Nothing can ruin a |
| resilience, courage, and conviction for when markets | | | | successful stock buyer as quickly, or as certainly as |
| go against you. | | | | flouting the rules. |
| 9. A successful trader has a biting Desire to succeed. | | | | Get to know these 15 characteristics and you are on |
| Triumph takes steady work not a chaotic effort, a | | | | your way to becoming a successful trader. |
| biting desire to succeed can make all the difference in | | | | |