Personally, 1. Ability to TAKE a position on a trend formation or anticipation. 2. Ability to SIZE up when YOU are right 3. Ability to Close out the initial position when YOU are wrong. Obviously Trade size and knowing when you are worng are key in this size. If you love to Trade and that is alot of us do, do not get too emotional on you P/L.
For your enjoyment RN http://www.elitetrader.com/vb/showt...ghlight=characteristic+of+a+successful+trader
Qualities: Knowing when to and where to. How to develop: Screen time. Instilling them in others: Can't be done. One has to instill them on his own.
i wonder if all who selflessly posted believe that they have achieved the quality cited and hence are successful traders or that they aspire to develop and instill the quality?
Yep, it's the 2nd mouse that gets the cheese! One that I've never seen metioned is simply to know when NOT to enter a trade.
Multi-task using 8 screens. One on a market connected live feed, the rest on various porno genres , gambling sites, and the new Starcraft 2.
follow rules follow rules..forget ego and forget wishes and hopes never loose a gain..cut losses efficiently, be willing to act time and experience are key, some bad days and good days are instructional and add value over time, exceptional mentors are key marketwizards have won and lost.....
acceptance burned myself too many times on not accepting what the market will give and trying to get a little more.