Stock trading is hard work, and it is not entertainment. Stock trading requires a knowledge of trading, a time to trade, the adequate risk capital, and a great deal of self-discipline. Stock traders are true entrepreneurs. They risk their own capital, and they make all their own business decisions.
Not all potential traders have the required personal characteristics to be successful traders. In addition to the key personal traits of self-discipline, patience, and the ability to assume risk, successful traders also tend to exhibit the ff characteristics:
INTELLIGENCE
Trading is an extremely competitive business. At any point in time, the trader is competing against professional market makers and other traders. To survive in this business, traders must be SMART.
FLEXIBILITY
Market conditions are fluid and are always in a state of motion. The trader must be able to adapt to the changing trading environment. For instance, traders should be able to trade both long and short positions with relative ease.
WILLINGNESS TO LEARN
Successful traders strive to learn something new during each trading day, if not during each trade.
CONFIDENCE
Traders are not troubled by a series of bad trades during the week.
ABILITY TO REACT UNDER STRESS
The ability to react to trading losses or respond to information overload is important for traders to succeed. Subsequently, traders should be able to make trading decisions without panicking.
-Sarkovich
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