What personality traits do you need to be a successful trader? I am about to restart psychology and will be modifying my personality to suit trading on the stock market( I am psycho-socially able to get down to my bare morals and ego with no drugs) Things like determination,grit,ability to take risk, ability to handle risk vs reward and vice versa When you give your answer please explain in detail why you choose those personality traits and if you don't mind a personal example of your own trading life being utilized by your personality.
MAINLY lots of hard work/homework.[Rule of 72] Rule of 72 related \work 6x12 hoUrs/day=72 hours a week. I count my birdfeeder as trading work also redbirds/brownbirds/bluebirds/hawks also LOL........................................................... AND like Dave ramsey noted ''readers are leaders/''
Thank you for sharing this . I am currently listening to affirmations the super charged ones and they are helping me so much. This is what I love about life so many intricate details and oppertunies for you to turn the worse of situations to the best of situations. I love life
The ability to have faith in your system during drawdowns. Getting up every day, every month, every year and repeating the same process even during times when it seems broken. And the system does not have to be complex - I am talking even simple systems. In my opinion that is the overlooked 'edge' that most people do not have. That edge is what makes people really wealthy, no matter what business we are talking about.
#1 has to be persistence Takes a really long time to get consistent, and even then the rough patches are inevitable. All of us posting here so far said the same thing just in different words But that same trait will bite you in the ass. If you are persistent/stubborn then you might be trying to get it right, repeating the same mistake time and time again, stuck in a loop.
I agree with you, persistence, learning and practising are very essential to make trading a long time success.