The One Great Quality In Successful Great Traders!

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.
 
Quote from tradingjournals:

In every profession, there are certain qualities that are prized. If you have to list one (ok more than one) great quality of successful and great traders, what would it be? Also please provide ideas on how to develop such qualities, or instill them in others.
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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?
 
Quote from nicbizz:

Better to be late than too early (i.e. wait for the damn signal to finish forming!)
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+1 +1 +1 +1 +1

I am sure it has cost me about $100k to learn this.
 
Quote from nicbizz:

Better to be late than too early (i.e. wait for the damn signal to finish forming!)
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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.
 
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.....
 
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