Why people fail in their starting years who tried trading, it’s not unusual for the traders to be wonder about their trading failures. Every trader has not specific strategies and authentic experience about trading. About 95 percent of traders fail every year. So the question is here, who are the rest 5% of traders who mostly win? What are the qualities or strategies they have established in themselves that lead them toward success? Regarding these questions, I’ve enlisted 20 characteristics that are common in winning traders.
These characteristics of most successful traders are much unique and broad that don’t have any order. The thing that matters most is a way of adopting that, even one, specific quality in oneself uniquely and extraordinarily to become a very successful trader.
Characteristics of successful traders
- Successful traders have strategic pre-plans about tradings that lead them towards a disciplined & personalized trading business without any flaws. They can use effective money management and self-pride to accept the money they win from the trading market.
- Winning traders don’t play with their emotions. Instead, they use their mind and remains to relax without having a fear of failure. Even they don’t get much excited after success. They stay calm and can easily pass through in both situations of up & downs.
- They don’t play to be snooty or for some other feelings; they just trade to win.
- They use their intellectual pursuance to manage the trading business.
- They don’t get shocked when running out of stock and don’t show carelessness at that moment. It only plays trading for the pride and prosperity of the country.
- The urgeto learn and passion for trading are two main factors of successful trading. So they mostly spend their time to avail these two things which make them more grip-full in trading.
- They don’t spend their time on useless things. They only do when there is a need to be done, and then they do their best.
- They make their own decisions about trading and ignore other’s suggestions.
- Based on tradings, winners don’t judge themselves and also don’t predict their future. They always know some kind of failures and losses, but they still keep those losses as small as possible and don’t hesitate to eliminate those temporary losses trades.
- They don’t do hands-down tradings. They always know they have to struggle as getting money fromthe trading market is not an easy-going process.
- They trade to do the best every time as they don’t play for money. Deal to make it the best traders.
- They don’t blame others. Instead, every time they find their mistakes and use them to do better next time. This thing makes them professionals.
- While trading, they only focus on trading. They don’t pay attention to other things or to the total money they have lost or gain. They only focus on what they are doing at the moment.
- They don’t have any aspirations when they play a game. They realize that either direction it can go and that nobody can know the future.
- They have trust in their approach, persistence, and discipline.
- They are not fearful because habits that discourage them from being careless have been established.
- They have personality abilities and can continuously measure their activities in terms of motivation.
- They don’t predict anything while trading as no one knows the future. They understand the ups and downs in trading. They only give their 100% while trading.
- They have a multidisciplinary attitude towards trading. They are confident regarding their abilities and plans. They have patience with the results.
Some Truths about Trading
- The market would not credit anybody for realizing the apparent.
- A problem caused by several traders is that they are so interested that they skip the significant price movements in trying to capture the small volatility.
- The marketplace is like an open sea, and, instead of what I want, it goes up and down. The market doesn’t realize that I exist and that I can’t affect it. I can regulate the market no more than the oceanheld by a sailor, but I can control my actions.
- Trading is all about managing myself, my cash, my actions, and my positions. It is not about projections, forecasts, or views.
- There’s a big crowd of people in this market. Through besting them, every crowd member gets to take money away from other participants. Everything is towards me, even some of the world’s most extraordinary people, and I am against all those. Every man is there for himself. The profit I like to earn goes from other individuals who don’t want to give it to me.
- Specialists are just incorrect because many of them keep thinking the same thing if you ever get them.
- And if you’re both disciplined and coordinated, a plan to enroll or exit trades may not support you.