Common Traits of a Good Trader

[Tarzan]

These are some common traits of a good trader.
He maintains a disciplined trading style that he has learned over the years.
He will not chase a stock.
He is organized.
His home or office is clean.
He pays his bills on time.
His car is well kept.
He is serious and not “ the life of the party” type.
He is focused.
He is prepared.
He wont panic when a trade goes wrong, he will cut his losses and move on. He will never let a loss get too big.
He is honest and seen as a good person.

From my experience, for whatever reason, those are some common traits of successful traders who are consistent.

I think tarzan is confusing traits of a trader with top traits women find attractive in men from tinder

That was a good one…lol

 

[vanzandt]

These are some common traits of a good trader.
He maintains a disciplined trading style that he has learned over the years.
He will not chase a stock.
He will not “ take a gamble” on any stock.
He is organized.
His home or office is clean.
He pays his bills on time.
His car is well kept.
He is serious and not “ the life of the party” type.
He is focused.
He is prepared.
He wont panic when a trade goes wrong, he will cut his losses and move on. He will never let a loss get too big.
He is honest and seen as a good person.

From my experience, for whatever reason, those are some common traits of successful traders who are consistent.

That's pretty good. I agree.
Ahhhh... every now and then you need to gamble though. That's where proper sizing comes in I guess.

One thing you missed however, psychology. The ability to foresee the herd.
Intuition.
Without it, you wind up buying books and subscribing to wannabe's on YouTube.
And losing money.

 

[zghorner]

One thing you missed however, psychology. The ability to foresee the herd.
Intuition.
Without it, you wind up buying books and subscribing to wannabe's on YouTube.
And losing money.

 

[Scataphagos]

These are some common traits of a good trader.
He maintains a disciplined trading style that he has learned over the years.
He will not chase a stock.
He will not “ take a gamble” on any stock.
He is organized.
His home or office is clean.
He pays his bills on time.
His car is well kept.
He is serious and not “ the life of the party” type.
He is focused.
He is prepared.
He wont panic when a trade goes wrong, he will cut his losses and move on. He will never let a loss get too big.
He is honest and seen as a good person.

From my experience, for whatever reason, those are some common traits of successful traders who are consistent.

2 biggies...

#1... Know his methodology is correct. That is, having figured out what he's supposed to do and why.

#2.... Discipline, in all aspects. Paying "close attention", trades to take, plays not to make, stops.

You see... if your methodology is correct* and you apply it with discipline, it's almost impossible to lose!

That's it. KISS, baby!

* And what methodology is that? Price TA is the only one I know that works for sure. (Yeah, there is insider trading and front-running, but those are illegal... unless you're a big muckety-muck in the government, of course.)

 

[mab81]

Interesting points while someof them make more sense than others. I particularly think that the most important traits for a good trader are discipline and persistence while being wise and careful and basing decisions on past experiences and lessons learnt from them.

 

[globalarbtrader]

These are some common traits of a good trader.
He maintains a disciplined trading style that he has learned over the years.
He will not chase a stock.
He will not “ take a gamble” on any stock.
He is organized.
His home or office is clean.
He pays his bills on time.
His car is well kept.
He is serious and not “ the life of the party” type.
He is focused.
He is prepared.
He wont panic when a trade goes wrong, he will cut his losses and move on. He will never let a loss get too big.
He is honest and seen as a good person.

From my experience, for whatever reason, those are some common traits of successful traders who are consistent.

And apparently he's always a 'He' because as everyone knows women are rubbish at trading

GAT

PS most of these apply to me but only because I'm a boring git, not because I'm a good trader.

 

[Tarzan]

Intuition is paramount and indeed the X factor that only a few have.
Also know which stocks are in which sectors. You would be shocked at how many traders are cluless. You should know at least 5 companies in each sector.

 

[Scataphagos]

Intuition is paramount and indeed the X factor that only a few have.

LOL, good one. You should have saved that for April 1.

 

[SimpleMeLike]

2 biggies...

#1... Know his methodology is correct. That is, having figured out what he's supposed to do and why.

#2.... Discipline, in all aspects. Paying "close attention", trades to take, plays not to make, stops.

You see... if your methodology is correct* and you apply it with discipline, it's almost impossible to lose!

That's it. KISS, baby!

* And what methodology is that? Price TA is the only one I know that works for sure. (Yeah, there is insider trading and front-running, but those are illegal... unless you're a big muckety-muck in the government, of course.)

Hello Scataphagos,

I agree with your statement "You see... if your methodology is correct* and you apply it with discipline, it's almost impossible to lose!"

The only challenge or debate I have with your comments is "And what methodology is that? Price TA is the only one I know that works for sure. "

I like Price TA or price action, but you really need to add to your comment that Price TA is very subjective and not objective and challenging to prove statistical edge manual back or forward tested and becomes double challenging once a Price TA trader enters drawdown and dealing with so much subjectivity. And triple challenging trading without proven statistical edge.

 

[speedo]

Intuition is paramount and indeed the X factor that only a few have.
Also know which stocks are in which sectors. You would be shocked at how many traders are cluless. You should know at least 5 companies in each sector.

"Intuition" is a product of quality experience. Quality experience is a product of lengthy observation, research, testing and trading...you know work.