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Traits of a professional trader in Forex
What personality traits has any successful professional forex trader? Imagine that there are 2 people who have equal education and intellectual level, as well as the same amount of time working on Forex. The difference is only in quality of their character that allow one to obtain 100-200% of the monthly income and other hard-to reach break-even result.
What allows the 1st trader to do such a huge percentage, and 2nd does not exceed at least 20% per annum.
First, the most important personality trait of a successful trader —the ability to handle stress. In case of any trouble, he remains calm, sober judgment of the situation. This gives him the ability to make balanced, well thought out steps, not succumbing to emotional impulses, which leads to the error.
The next condition is the presence of your own trading strategy which the trader takes rather a long time. He knows exactly under what circumstances will open a trade, what will he do when the price will go where it is needed, and when he closes a deal. The important point here is strict adherence to the strategy in all circumstances. That is, if a successful trader on the algorithm closes on 60 items of income agreement, even if it may not immediately occur, however will definitely occur, an unsuccessful merchant,who does not have your algorithm will close the deal for the 30-items of income, recognizing that it will be enough.
Perhaps this is somewhat exaggerated actions of the hapless trader, but the principle really is in the details — somewhere less income where you chickened out, which makes some emotional, and in the end is not 100% over the last month and only 3-5%.
It should be noted such personality traits as purposefulness, and planning. If a person plans to make money, first he is planning, setting goals and looking for opportunities for their implementation. Do Forex successful traders. Without your financial plan is not enough.
Last, not less important feature of a professional trader is solely independent decision-making.
|Category: Forex | Added by: (29.10.2017)