The SIX Characteristics of the Winning Trader!

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This begins a series of posts that will describe the psychological profile of a winning trader.

Just what IS this beast that can trade so well that he makes it to the level of professional trading and makes a good living out of it?

How does he think? How does he look at the world? What are his attitudes about life and about trading?

These questions and more will be answered in this first in a series that will give the SIX PSYCHOLOGICAL CHARACTERISTICS of the mental attitude that it takes to make it as a trader.

Here we go……………!

Characteristic #1 of the student of trading that WILL achieve his goals is that he is highly motivated, deeply EMOTIONAL, clear about what he wants and has a goal that hits upon one of the core values of his life. He feels VERY STRONGLY about what he WILL achieve and grits his teeth when he states it.

This drive is actually in two parts: Going TO something and going AWAY from something.

He is motivated TO something when he sees himself moving toward a situation that is directly connected to his deservedness. It’s something very good and he KNOWS he deserves it. Additionally, it’s something that is part of what he holds as a core value in life. It’s not only important to him, but he feels that it should be important to every living soul. He is so deeply connected with this drive that it literally defines who he is, what he’s about and what his reason for living might be.

He’s also driven by the idea of moving AWAY from something. Most people arrive that THIS type of motive before the ‘TO’ drive, but, in fact, this one alone is rarely enough on its own. The reason is that it’s based on FEAR or anger or disgust or some other negative.

Yes, fear is stronger than greed and it can be more emotional, but, in my opinion, the going AWAY from something should not be our primary motive.

The reason is that, in generally, it’s better to be strongly motivated into action by a positive than a negative.

Therefore, what I suggest is a BALANCE between the two – going TO something and going AWAY from something – as a picture of mental health as we approach our trading.

Be motivated in BOTH directions, KNOW, clearly and specifically what is driving you and you alone and read about the other five characteristics of the winning trader in the continuing series……………