There are some human qualities that drive a trader towards success. Notables are patience, perseverance, determination etc. Skill development is not the only thing that is required for trading rather building human qualities is also highly essential. Without achieving these human natures, a trader can hardly in Forex trading.
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Each trader has a different trading skills set and he will need to make the best use of them.
Human qualities play a vital role in bringing success. For example- I am naming patience. If you don’t have patience of trading, you will over and over feel like leaving Forex owing to losses. But, if achieving success is your focus, you should stick to trading whatever happens.
I think determination and the ability to form habits well is vital. These help when motivation wanes.
That and patience , waiting for the right setup set of confluences to line up and also Bern able to sit on ones hands
I mentioned in other post, but will say again…
Number one human quality a trader must have is humbleness.
You don’t have this… market will teach you to be
In my opinion, your qualities and skills as a person can be different from others, you just need to use it in the best possible way so it can work in your favour while trading.
determination is everything , without this habit trading as well real life can be useless.
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Forex is a very uncertain market where anything can happen anytime. They should not be emotional and greedy about trading because it causes them to lose from Forex by the end of the day. Traders should be determined to learning and applying them on the market to turn them into a force. Patience and pursuit are two best qualities traders should install in them.
Yes.
As I’ve said before, trading is a test of character, not intelligence.
(luckily for me…)
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Developing strong human qualities is an important factor for a Forex trader because strong human qualities impede a trader to over-trading and revenge-trading. Traders should be determined to learning and applying them on the market to turn them into a force. So, traders should make up their minds this way.
And discipline. Motivation can only take you so far.
3 very good word s to describe what needed PATIENCE, DETERMINATION and PERSEVERANCE to succeed in trading
I actually read this from market wizards too I think! Whoever it was said that just because you’re smart doesn’t mean you’re gonna succed in trading and that in fact it may hinder you from actually being succesful.
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Surely the best qualities that make a trader successful! Out of these, I believe that patience is the most important. Trading takes time to show results and if you can patiently work to improve and get better, nothing can stop you from achieving your goal.
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I would add to all this a willingness to learn, no fear of making mistakes and rationality of course
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- Lack of tendency to take unnecessary risks (or at least the ability to control it).
- A cold mind (so that you don’t panic when things don’t go according to plan).
- Resourcefulness (to always have at least a couple of alternatives).