What are the mental traits a successful trader must posses?

NexusFi · 2011-04-30T18:34:22-04:00

Throw away your ego. You can't take yourself too seriously. If you think of yourself as a great trader who understands probability and you're going to make money no matter what, what happens when you make a bad trade? It shatters your reality to a degree. Now, if you do away with your ego then a loss isn't going to pull you down. What does it mean to throw away your ego? 1) Don't have expectations of success for yourself. 2) Don't take success for granted. 3) Accept that losses WILL happen. 4) …

Discussion in Psychology and Money Management

Updated April 30, 2011

What are the mental traits a successful trader must posses?

April 30th, 2011, 06:34 PM

#31 (permalink)

aquarian1

Point Roberts, WA, USA

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Donald

... I learned what it felt like to trade and win in a string, ride the market surf. The take-away, was the feeling.

That experience cannot be measured.

Now that i know what it feels like

I have not only the confidence that it can be done but the experience of feeling it.

Hi Don,

I think you have been given a rare gift with this experience.

Currently, I have trouble creating the visualization of myself being in the zone. It would be so much easier if I had had a day like yours. I appreciate you sharing this experience with the board, and so by extension, with me. I am going to take what you have shared and try again to create a visualization for myself of being in the zone.

"The bible makes it plain that whatever you imaging, you can do. If you cannot make a mental picture of a thing you cannot create it. ....but if you can imagine and visualize a thing you can make dreams come true."
-W. D. Gann, The Magic Word

"Anything the human mind can believe, the human mind can achieve."
-Napolean Hill, Grow Rich with Peace of Mind

"If you can dream it you can do it"
-wall hanging.

..........
peace, love and joy to you
.........