11 Characteristics to Becoming a Great Trader
By Dale Gillham | Published 30 April 2018
Do you know the difference between an average trader and being a great trader. In this market report, Dale Gillham highlights the 11 characteristics to becoming a great trader, which include:
- Great traders are open minded to new opportunities while average traders are often closed minded.
- Great traders are always learning as they are a student of the market. Average traders either believe they know it all or believe that information equals education.
- Great traders set goals and work towards them while average traders wait for things to happen to them.
- Great traders accept responsibility for their beliefs, thoughts and actions while average traders blame others for their situation.
- Great traders will admit a bad trade or mistake quickly and move on to rectify it while average traders hide their mistakes and live in hope that things will turn out fine.
- Great traders think with an abundance mindset while average traders have a scarcity mindset.
- Great traders are self-sufficient and rely solely on their own judgement. Average traders, on the other hand, seek external validation for what they are doing, and they often seek out tips from others.
- Great traders know the value of a having a good education. Average traders, on the other hand, know the price of everything but not the value and so they pay the price for a poor education.
- Great traders are disciplined and put time into their education, research and trading prior to entering the market. Average traders look for the easy way and are reactive to the market.
- Great traders see challenges as an opportunity to learn, while average traders treat them as all too hard and so get stuck at a roadblock and give up.
- Great traders have faith in themselves and treat their tools as something they can utilise, while average traders put their faith in their tools to make them successful.
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