There are many thousands of traders on the market, both full time execs and part-time beginners. In both groups, some are successful, some aren't. The reality is that the majority aren't successful, and if you're only starting out that lucky run can be particularly evasive. Except for both noobs and execs, there are winners. In contrast to general belief, winners aren't just 'born. ' They don't have any natural benefit over you. But they do follow certain 'rules. ' So what sets the regularly successful traders aside from the others?
Here are five characteristics of successful traders :
1. Be a Supporter . Regardless of the common myth to the opposite, the secret to being a successful trader is to be a proponent, not a leader. Successful traders don't magically "make things happen". Those that try and force the market and enter too early because they "just know that it's going to go up" won't win. Successful traders will follow their established system and won't try to make stuff happen outside of it. That's the entire reason for employing a system and putting the slight edge it gives to full advantage.
2. Be Prepared. Successful trades are properly prepared ahead. It's essential that there's a trading plan in place and it is stuck to rigidly. This doesn't always need to be long. With a good system in effect successful trades can be planned simply.
3. Be Emotionally Detached. Successful traders always stay emotionally detached. After entering a trade, it's essential it is not touched till the factors for the predetermined exit method are met. Watching trades too closely can be perilous. Again, exactly following a particularly clear system removes the need to interrupt.
4. Expect Success. Successful traders always expect to achieve success and become rich. They can simply picture themselves rich, and aren't limited by self limiting convictions. Traders without this self belief have a propensity to sabotage their trading account as it begins to get 'too high ' due to a subconscious belief that they do not should be rich. Such concealed mental stumbling blocks can truly obstruct success.
5. Learn From Others. The truly successful traders all have a teacher. All of them learn from the experience of others, and put it into action, using success to reproduce success. This cuts out years of random test, and is a secret to success in any field, not just stock market trading.
If you follow these five essential rules of successful traders, you can also enjoy real success on the market - the secret's to follow a confirmed system.
Here are five characteristics of successful traders :
1. Be a Supporter . Regardless of the common myth to the opposite, the secret to being a successful trader is to be a proponent, not a leader. Successful traders don't magically "make things happen". Those that try and force the market and enter too early because they "just know that it's going to go up" won't win. Successful traders will follow their established system and won't try to make stuff happen outside of it. That's the entire reason for employing a system and putting the slight edge it gives to full advantage.
2. Be Prepared. Successful trades are properly prepared ahead. It's essential that there's a trading plan in place and it is stuck to rigidly. This doesn't always need to be long. With a good system in effect successful trades can be planned simply.
3. Be Emotionally Detached. Successful traders always stay emotionally detached. After entering a trade, it's essential it is not touched till the factors for the predetermined exit method are met. Watching trades too closely can be perilous. Again, exactly following a particularly clear system removes the need to interrupt.
4. Expect Success. Successful traders always expect to achieve success and become rich. They can simply picture themselves rich, and aren't limited by self limiting convictions. Traders without this self belief have a propensity to sabotage their trading account as it begins to get 'too high ' due to a subconscious belief that they do not should be rich. Such concealed mental stumbling blocks can truly obstruct success.
5. Learn From Others. The truly successful traders all have a teacher. All of them learn from the experience of others, and put it into action, using success to reproduce success. This cuts out years of random test, and is a secret to success in any field, not just stock market trading.
If you follow these five essential rules of successful traders, you can also enjoy real success on the market - the secret's to follow a confirmed system.
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