Jan 25, 2017

Natural Characteristics That Will Make You a Poor Trader

The vast majority of people are not natural musicians, natural athletes, natural managers or natural anything. That includes trading. The human brain must be trained to excel at trading.

I want to share with you this quote from Jack Schwager (author of the Market Wizards series) on how he became a net profitable trader: 

"In my own case, I have traits—which I know through doing the books—that are negative for being a good trader. One that I cite often, because it’s such an obvious one, is patience. One of the things that good traders have is patience. And patience translates into trading in two critical ways." 

"First, waiting for a trade, not just jumping the gun because you want to do something, or you just lost some money and want to make it right back, or you’re making money too slowly, or you’re bored, etc. Being a good trader means having the patience not to do that. Just to wait and do nothing. "

Second, it also means even if you’re making good money but the trade still looks like it could go a lot further, and you’re worried about giving profits back, you need the patience to just be able to stay with the trade."

"And so patience is a really important thing. And it’s not merely a trait I don’t have—it’s a trait I have in reverse. I am an impatient person. I am the type of person that, before the advent of iPhones, would not walk around without a “Time Magazine” in my hand because God forbid I would have to wait in a line for two minutes and not be able to do something."

"I have natural characteristics that would make me a poor trader. And if I am net profitable as a trader, it is simply because of things that I have learned from people who are successful. I know, for example, that patience is important. I know I don’t have it. I’m cognizant of that weakness."

What traits are preventing you from becoming the trader that you wanted to be?


You will follow practical steps and acquire the essential skills a successful trader must have in order to consistently win, and you'll also learn:

- how to develop a trading system
- how to utilize the best trading techniques within a trading methodology
- how to think about the psychological aspects of trading and the markets
- how vital it is to treat trading like a business

As you master this breakthrough program, you'll build yourself a distinctive trading signature, hitting win after win, and you'll be well on your way to financial independence!

No comments:

Post a Comment