1. They are all comfortable with taking risks.
People with very low-risk tolerance, who cannot accept losing trades, are not cut out to be winning traders, since losing trades are simply part of the game of trading. Winning traders are able to emotionally accept the uncertainty that is inherent in trading. Trading is not like investing your money in a savings account with a guaranteed return.
2. They are capable of quickly adjusting to changing market conditions.
They don’t fall in love with, and “marry”, their analysis of a market. If price action indicates that they need to change their view on probable future price movements, they do so without hesitating.
3. They are disciplined in their trading and can view the market objectively,
regardless of how current market action is affecting their account balance.
4. They don’t give in to being excessively excited about winning trades or excessively despairing about losing trades.
Winning traders control their emotions rather than letting their emotions control them.
People with very low-risk tolerance, who cannot accept losing trades, are not cut out to be winning traders, since losing trades are simply part of the game of trading. Winning traders are able to emotionally accept the uncertainty that is inherent in trading. Trading is not like investing your money in a savings account with a guaranteed return.
2. They are capable of quickly adjusting to changing market conditions.
They don’t fall in love with, and “marry”, their analysis of a market. If price action indicates that they need to change their view on probable future price movements, they do so without hesitating.
3. They are disciplined in their trading and can view the market objectively,
regardless of how current market action is affecting their account balance.
4. They don’t give in to being excessively excited about winning trades or excessively despairing about losing trades.
Winning traders control their emotions rather than letting their emotions control them.
