What’s on the menu today?

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Two Characteristic a Trader must have to be successful

Okay not the best of story teller but we’ll try to put this to make it sound sensible.

We have been through many ups and down in our years of trading and find that having this two character helps a trader in a long way. We have seen many who failed, many who lost and many who are defeated, and this are all cost by the negative influence surrounding them.

What makes the successful and profitable ahead of them are two simple characteristic.

1) Sense of appreciation

2) Continuous effort

No doubt, being a human we always want more. More in wealth, power, control and many others. But to reach the top we have to learn the two characteristic above.

How does appreciation help us in trading? When we are trading, we have a set of expectation for every trade that we enter, but unfortunately the market is not that friendly to always help us meet our expectation always. We have to learn to accept and move on, look at bigger picture and appreciate the better things we have(may not be trading related). No matter how good your method is, if you don’t learn to appreciate, you will fail because you will think that the method you are having is never good enough.

Spare 1 minute and watch this video as it may help your understand better. Credits to Tony Robbin & MSN

http://www.msn.com/en-au/money/other/tony-robbins-how-trading-your-expectations-for-appreciation-can-vastly-improve-your-life/vp-AAjeMZV

Next is effort, effort is somethings that never fails to pay off. The more effort you up, the more you will grow. Effort can be simply analysing the market or learning some new strategy or  indicators. You never know that this small exercise will help you make a better decision in your trading. Example, if we don’t put effort to monitor the market at least few minutes a day, we may struggle to understand how the market is reacting, example increase in volatility. When market is very volatile, setting tight stop loss on your trade may not suitable compared to usual. Lastly with Effort, you don’t have to depend and that’s when we step aside from the rest.

Hope the short write up will help you be more profitable!

Happy Weekend and Cheers!