Here Are the Character Skills Needed to Be a Great Trader

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Here Are the Character Skills Needed to Be a Great Trader

Do you want to be a great trader? The type of trader that earns a serious living just off of trading. If you do, then there are a number of steps you need to take first. You need to do your homework, read, research and put in the work. You also need to develop a few key skills as well. If you want to truly be a great trader, here are the skills that you need.

  1. Perseverance

If you want to be a successful trader, then you need to be ready and willing to make it through the good times and the bad times. If you don’t have the perseverance to make it through the challenges that the trading world will throw at you, then you will never survive. You need to be willing to do the time, show up and put in the work each and every day, both through wins and through losses. If you are one that will give up due to a big loss or a great challenge, then trading isn’t for you.

  1. Patience

No skill will pay off more in today’s difficult market quite like patience. If you think you are going to make millions overnight in trading, you might as well quit now and save your money. It takes time and it takes work in order to truly make a substantial income off of trading. If you are not patient and not willing to wait for your returns to come, you are going to have a very difficult time learning how to be a great trader.

You not only need to practice patience over the long term, but you need to have some short term patience as well. Sometimes you need to be patient and wait for the right opportunity to come along, whether it’s the right time to sell or the right time to jump on a trade.

  1. Discipline

Discipline is one of the biggest keys to success in the world of trading. You need to create a system and create limits for yourself and stick to those limits. You won’t do yourself any favors by lying to yourself. If you are able to stay focused and stay disciplined, do the extra work and stay on track with all of your trading practices, you are setting yourself up for success. The ability to manage yourself day-to-day and to hold yourself accountable is key.

  1. Survival Instincts

It may sound strange, but you need some pretty keen survival instincts if you are going to make it in today’s market, then you need some strong, natural survival instincts. When you are in true survival mode you are able to block everything out from the world around you. Whether it’s pain, distractions, other voices, when you know you need to survive, your instincts kick in and you become laser focused.

If you do not have this ability to create a sense of tunnel vision for yourself, then you are going to have a hard time handling the challenges of difficult trade decisions. These individuals are those who can let emotions get in the way of their decision-making, which is a major “no no” in the trading world. While many of us don’t need to use these instincts on a regular basis, knowing that you have the ability to hone in this way can only help you in your pursuits to be a great trader.

If these skills don’t come naturally to you, then it is important that you take the time to work on and develop these skills. They can be your key to success in today’s difficult market and your key to truly being a great trader.

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SIGN UP FOR DAILY WATCH LISTS, CHAT ROOM, AND STRATEGY VIDEOS —>  CLICK HERE !!!

I have VERIFIED Over $1,200,000 in net profits already in 2015 and I am sitting on very large unrealized gains on top of that !!!

  • Adrian Coogan

    Hey piece . I loved the details , Does anyone know where my company could possibly get access to a sample IRS 1099-PATR version to use ?