Some qualities a good trader should have

[TheUltraElite]

Discipline and mental fortitude are important in trading. A short pull up or down should not make you nervous because you know that it is common. This becomes more powerful if trading is a side hustle and you have a cushion of income available. Also why I discourage people from taking up trading as a full time job.

Intellectually strong? maybe that person would not go for trading and try something else for a job, these people usually go down good entrepreneurial routes.

But another important thing is to practice with dummy trading and if you have prior experience of traditional markets, that is an added advantage too.

[dzungmobile]

Discipline and mental fortitude are important in trading. A short pull up or down should not make you nervous because you know that it is common.

It is important characteristics but you only can do this well if you have good knowledge about this market, basics like market cycle in price and psychology. Without understanding about the market history, it's really hard to be disciplined and have strong mentality in chaotic market movements.

It starts with how a trader begin in this market, research and learn must be vital steps to do, before anything else. Technical analysis will be meaningless if you lack of knowledge and are easily fearful and panic.

But another important thing is to practice with dummy trading and if you have prior experience of traditional markets, that is an added advantage too.

It's good advice but from dummy (demo) trading and actual trading (with money), there are many big differences. With dummy trading, you have no fear, no greed, no panic while we know these emotional and psychological factors can affect a trader seriously.

[Barikui1]

Well although I'm new to this platform I'm not actually new to trading and during the little time that I have been trading I would love to share with you some of the qualities I think a good trader should have

First we should know that trading isn't gambling and isn't about luck if you wish to become a successful trader there are some qualities you should possess
Although I myself do not possess all these skills

1 you should be disciplined

2 should have good intellectual attributes

3 should have the mental fortitude for trading

 
Well this is my opinion I'm open for any corrections you may have

Well I actually applaud you for all  you have stated down here, mental strength, discipline and intellect is very much important in other to be a successful trader, but in as much as all these are important, you will never be successful in trading if you don't know how to control your emotions.

I think emotional control is the most important skill a trader must have in other to be successful in the craft, and saying this because in my early days as a trader, even though I knew of technical and fundamental analysis a little bit, I will not be confident in my analysis because i can't control my emotions, once the market start going against me I will just close the trade in a loss without even waiting to see if my stoploss will be triggered, and when I have closed the trade in a loss, that is when the trade will start going as planned and it will certainly get to where my take profit is, I mean where I initially set my take profit.

Even when I am in a profit, I will just run away with a dollar or even some cent, a trade that would have given me a whole lot of money, but due to lack of emotional control, I will keep on struggling and losing money in a trade I should be winning.
So in essence of what am trying to say is that without emotional control, all your trading knowledge and abilities are useless.

[milewilda]

Discipline and mental fortitude are important in trading. A short pull up or down should not make you nervous because you know that it is common. This becomes more powerful if trading is a side hustle and you have a cushion of income available. Also why I discourage people from taking up trading as a full time job.

Intellectually strong? maybe that person would not go for trading and try something else for a job, these people usually go down good entrepreneurial routes.

But another important thing is to practice with dummy trading and if you have prior experience of traditional markets, that is an added advantage too.

Totally important and this is something a skill that you cant really be able to learn in a short period of time. There might be some lapses or there might be some errors that we might be able to encounter or able to experience. If we do speak about qualities of a good trader then this is something that you would really be able to find for yourself and this would really be basing up on the experience that you do able to gain up
overtime. Its not really that something that could be obtained and you are the ones who will really be able to realize and deal up things accordingly. This is a market on which it will really be that truly unpredictable.
There's no way that you could really be able to learn up trading skills in a short period of time and this will vary into each person because there are ones who are really that whose that fast learners and there are
ones who are really that slow. Profitability will really be just that basing or depending on how well you do make out trades. Just like been said that this is something that cant be learnt in a short
period of time on where it will really be basing up on how well you do.

[Mahanton]

Well although I'm new to this platform I'm not actually new to trading and during the little time that I have been trading I would love to share with you some of the qualities I think a good trader should have

First we should know that trading isn't gambling and isn't about luck if you wish to become a successful trader there are some qualities you should possess
Although I myself do not possess all these skills

1 you should be disciplined

2 should have good intellectual attributes

3 should have the mental fortitude for trading

 
Well this is my opinion I'm open for any corrections you may have

Well I actually applaud you for all  you have stated down here, mental strength, discipline and intellect is very much important in other to be a successful trader, but in as much as all these are important, you will never be successful in trading if you don't know how to control your emotions.

I think emotional control is the most important skill a trader must have in other to be successful in the craft, and saying this because in my early days as a trader, even though I knew of technical and fundamental analysis a little bit, I will not be confident in my analysis because i can't control my emotions, once the market start going against me I will just close the trade in a loss without even waiting to see if my stoploss will be triggered, and when I have closed the trade in a loss, that is when the trade will start going as planned and it will certainly get to where my take profit is, I mean where I initially set my take profit.

Even when I am in a profit, I will just run away with a dollar or even some cent, a trade that would have given me a whole lot of money, but due to lack of emotional control, I will keep on struggling and losing money in a trade I should be winning.
So in essence of what am trying to say is that without emotional control, all your trading knowledge and abilities are useless.

4. Emotion control
5. Risks management
6. Versatility or adaptability

These are the points on which i do like to add it up or something that will really be that relevant on this case or simply becoming a trader should have this qualities.
When dealing up with trading on a speculative market then it will really be normal that you will really be able to experience a series of events that it doesnt really that go in line with any fundamentals or technical analysis on which no matter how well you are on doing this but ending up on still losing a trade, then it will really be normal that will come up into your mind that there's no point on doing this on which its partly true.

Somehow application of these stuffs could really give out that kind of advantage in comparing into those people who do just simply making up trade positions without any basis.
It will really be that understandable that results or outcomes cant be known but it will really be always best that you are basing your positions with your own analysis and best approach you do have.

[South Park]

Discipline and mental fortitude are important in trading. A short pull up or down should not make you nervous because you know that it is common. This becomes more powerful if trading is a side hustle and you have a cushion of income available. Also why I discourage people from taking up trading as a full time job.

Intellectually strong? maybe that person would not go for trading and try something else for a job, these people usually go down good entrepreneurial routes.

But another important thing is to practice with dummy trading and if you have prior experience of traditional markets, that is an added advantage too.

Another good quality is to be a down to earth person, basically many traders fail because they expect they will make a fortune in a matter of weeks, thinking that since some people were able to get that kind of success then they can do it too, not realizing those people just got lucky and there is not really any way to replicate their results, then a good trader needs to keep their expectations in check, because if they cannot do it then it will not be long until they fail.

[Strongkored]

The theory that a trader must have to be successful is almost known to all traders but not all are able to carry it out well, about discipline sometimes traders will break it even a soldier who is used to discipline will also find it difficult to remain disciplined when becoming a trader.
Intellectual or skill about trading is what traders sometimes do not have so they trade like gambling just following feelings and eventually lose everything.
To become a quality trader we must continue to evaluate what trades made us lose that day and vice versa.

[$weetne$$]

Another attribute of good traders is the ability for them to decide when it is proper for them to trade and not proper for them to trade. You do not always need to trade.

Making a decision on when to enter the market should not be from our own thoughts without having a backing from the charts. All traders need to be relying on what the charts are saying therefore a trader not knowing how to interpret the market from chart is not ready to become a professional trader. Alot of traders just depend on their instincts to enter the market and that is why they love trading during the bull market because they know regardless of when they enter the market, they can just hold and get profits but if they do that in the bear market and get their timing wrong, that they are going to be losing. Timing the market is a quality that most traders do not have and they are not trying to acquire such skills instead they prefer to rely on trading signals which is not going to help them professionally.

[dunfida]

Discipline and mental fortitude are important in trading. A short pull up or down should not make you nervous because you know that it is common. This becomes more powerful if trading is a side hustle and you have a cushion of income available. Also why I discourage people from taking up trading as a full time job.

Intellectually strong? maybe that person would not go for trading and try something else for a job, these people usually go down good entrepreneurial routes.

But another important thing is to practice with dummy trading and if you have prior experience of traditional markets, that is an added advantage too.

Another good quality is to be a down to earth person, basically many traders fail because they expect they will make a fortune in a matter of weeks, thinking that since some people were able to get that kind of success then they can do it too, not realizing those people just got lucky and there is not really any way to replicate their results, then a good trader needs to keep their expectations in check, because if they cannot do it then it will not be long until they fail.

Not really that like on being down to earth person but rather it would really be that ideal on not to make yourself that being not too much confident specially on the time or moment that you do make out some good trades on which it did really cause up for you to make out some good profits or huge amount of money. You would really be definitely be thinking that you will really be spending up like a mad man because you do know that you could be able to make again with some money on the moment that you do make out some trading. Just like on what you have said that there's no way on replicating on what the result or outcome would be into your next trades. This is why it would really be that so wrong that you will really be that presuming that it could happen again, you would really be able to realize on the moment that you do encounter such decision.

As a trader then luck factor is one of the things needed to have a profitable trade because there's no assurance to have that a winning trade even if you do put up some good strategy that you had made.
Somehow having those analysis is really that much more better in compared into those people who havent been able to apply anything at all.

[Jody.Drummer]

The theory that a trader must have to be successful is almost known to all traders but not all are able to carry it out well, about discipline sometimes traders will break it even a soldier who is used to discipline will also find it difficult to remain disciplined when becoming a trader.
Intellectual or skill about trading is what traders sometimes do not have so they trade like gambling just following feelings and eventually lose everything.
To become a quality trader we must continue to evaluate what trades made us lose that day and vice versa.

Every trader may be able to understand the theory because it is only limited to learning that we can read or learn, but what is more complicated is when trading directly. Because there will be a difference between theory and practice and we must be able to adjust to the situation we are facing. In theory, we may talk about mentality, for example, what we should be like and how. However, when we are directly in trading, the mentality is very different because we feel it directly. We can no longer speculate for a long time, because we have to be quick in making decisions. Sometimes when we theorize we say we are ready with that mentality, but when we trade directly, it turns out that it is not as easy as we imagined.

[Zanab247]

I guess you have mentioned some few qualities of a good trader should develop when trading in the market.

A good trader should know how to exercise patience when trading in the market, because that is where some traders use to face losses in their trading, they believe that the price will not go higher than the current price. A good trader should have the knowledge to carry out her research before trading which is very important for good traders who want to make different profit from other should develop because you will notice something that will make you not to go ahead when the bear season occur, which you have to wait for bull season to occur before you can trade to earn profits.

[mirakal]

The theory that a trader must have to be successful is almost known to all traders but not all are able to carry it out well, about discipline sometimes traders will break it even a soldier who is used to discipline will also find it difficult to remain disciplined when becoming a trader.
Intellectual or skill about trading is what traders sometimes do not have so they trade like gambling just following feelings and eventually lose everything.
To become a quality trader we must continue to evaluate what trades made us lose that day and vice versa.

In order to be a quality trader, one must know and analyze the market well first. You can’t be a good trader if you can’t interpret the market charts and patterns, and identify its trends that determine as to where the prices of the coins are heading. If you have already skills for this, then proceed to developing your positive mindset and attitudes as a trader. And always be patient when trading and learn to wait for the right timing to trade, that will help you minimize or control your losses and maximize your future profits while trading in the market.

[alastantiger]

In order to be a quality trader, one must know and analyze the market well first. You can’t be a good trader if you can’t interpret the market charts and patterns, and identify its trends that determine as to where the prices of the coins are heading. If you have already skills for this, then proceed to developing your positive mindset and attitudes as a trader. And always be patient when trading and learn to wait for the right timing to trade, that will help you minimize or control your losses and maximize your future profits while trading in the market.

All qualities of a good trader can be learnt hence trading is something everybody can learn if they wanted to. Patience is needed to learn trading and we need to develop this habit to succeed. Studying the market and understanding the trends should be among some of the quality we should learn to help us become good at trading. Money management and not being a procrastinator should also be in our minds as quality we need to have to help us make profits. Not many people are good at deciding and this affects them when trading because we have to be very smart and fast when trading as well have patience and know when to strike or wait on the market.

[Peanutswar]

Could be in a different factor, but I consider a good trader if they know how to stick to their plan, and follow their trades analysis like they don't over commitment because people recently becomes more greedy every time they saw the market they keep holding much instead doing. a cut loss and take profit. Next is they count the wins not the trades. We know people getting derived with their emotions but at the end of the day we are aiming for the gains not on the counts for a trade.

[Zigabel]

Dear OP all you have said is okay and not a bad idea, these Information you share actually are basics and I would love to add, Patience ,  it's a very key habit to put to consideration while trading but a whole lot of traders don't have it fir sure, even a discipline trader needs patience to execute their trades, needs it to stick to their trading plans and all other factors that would be needed to maintain a good and healthy trading system.

Management of emotions is another, I have known of people who have brilliant strategies, excellent trading plans and very effective risk management system with which they trade but still struggle with their emotions bringing everything to a zero sum struggle all over, if they are able to overcome emotions I believe even a beginner wouldn't be long before they will start trading like a pro.

[Alphakilo]

1 you should be disciplined
Know that discipline is one of the key to success when trading
 it is the ability of a trader to be able to adhere to trading plans the he or sha has created for themselves, ensures he follows strategies and make logical decisions that are not controlled by emotions,should have consistent risk management,and patience

There is so much to learn as a crypto trader. You can know it all and if you are striving to be successful at it  , you can't do it alone. You need to be an active member of the trading community.

A lot of the successful traders I know don't trade and then forget about the trade whether it was a loss or a win. They have a way to document their trading history such that they remember each trader and what they learned from it. This discipline keeps them from distractions and manages their expectations.

[Questat]

If you're speaking based on your opinion and experience, I won't object any of it because most of them really are right.

A good trader should have a lot of qualities and those that you've mentioned are just a part of it. It's hard to be a good trader when you don't know yet your goal why you trade.

Many trades are in that situation so they're having hard time in adapting these qualities to themselves. So, one easy quality on how to determine a good trader is when he's simply profitable.

Certainly agree on this. You are one good trader if you are trading in profits, and not just to satisfy your greed and end up losing at a consistent basis. Another quality is that if you are trading with the trend and not go against with the market, then you are one good trader. You don't trade and make your own rules, but instead you abide with the rules and turn your trades into a successful process.

[lixer]

Dear OP all you have said is okay and not a bad idea, these Information you share actually are basics and I would love to add, Patience ,  it's a very key habit to put to consideration while trading but a whole lot of traders don't have it fir sure, even a discipline trader needs patience to execute their trades, needs it to stick to their trading plans and all other factors that would be needed to maintain a good and healthy trading system.

Management of emotions is another, I have known of people who have brilliant strategies, excellent trading plans and very effective risk management system with which they trade but still struggle with their emotions bringing everything to a zero sum struggle all over, if they are able to overcome emotions I believe even a beginner wouldn't be long before they will start trading like a pro.

There are quite often topics shared to people about things that we should already know. The frequency of these topics could be tied to both people who want to write what is obvious and want to share some stuff, or could be tied to people who are still not doing it.

Like for example patience you talked about, sure that is an important part, but we should know that being patient could make us money, this is a known thing and nothing that crazy. Whereas, we are talking about a situation where things aren't all that easy to handle because people still do not listen to us, so a month from now another person will talk about how patience is the key, and then after another month another person, because there are people who just don't listen.

[stomachgrowls]

Dear OP all you have said is okay and not a bad idea, these Information you share actually are basics and I would love to add, Patience ,  it's a very key habit to put to consideration while trading but a whole lot of traders don't have it fir sure, even a discipline trader needs patience to execute their trades, needs it to stick to their trading plans and all other factors that would be needed to maintain a good and healthy trading system.

Management of emotions is another, I have known of people who have brilliant strategies, excellent trading plans and very effective risk management system with which they trade but still struggle with their emotions bringing everything to a zero sum struggle all over, if they are able to overcome emotions I believe even a beginner wouldn't be long before they will start trading like a pro.

There are quite often topics shared to people about things that we should already know. The frequency of these topics could be tied to both people who want to write what is obvious and want to share some stuff, or could be tied to people who are still not doing it.

Like for example patience you talked about, sure that is an important part, but we should know that being patient could make us money, this is a known thing and nothing that crazy. Whereas, we are talking about a situation where things aren't all that easy to handle because people still do not listen to us, so a month from now another person will talk about how patience is the key, and then after another month another person, because there are people who just don't listen.

People would really be making out some adjustments on the time or moment that they will really be able to experience those shit conditions or on the moment that they will really be able to encounter such situation that they've been losing up money. Yes, for someone who do have that experience then we can really make out that immediate advises and opinions but actually applying it out on what we are doing is really actually hard.

This is where we are can see some individuals who do really still keep repeat on the same mistake just because of those some common factors or problems on which a certain trader been doing. You are the ones who would really be making out some adjustment and not other people. You wouldnt be finding yourself to be that a successful trader if you are someone who doesnt really welcome out some changes or wont really be realizing on what are the things that should be done first for you to be able to have such success. We do know that it might not easy but its not impossible.

When you do deal up with a volatile market then of course you would really be needing up those kind of qualities on which this could be resulting for you to be able to sustain up this unpredictable space.
You would really be needing out to adjust accordingly so that you would really be able to survive.

[Bloodseekers]

Dear OP all you have said is okay and not a bad idea, these Information you share actually are basics and I would love to add, Patience ,  it's a very key habit to put to consideration while trading but a whole lot of traders don't have it fir sure, even a discipline trader needs patience to execute their trades, needs it to stick to their trading plans and all other factors that would be needed to maintain a good and healthy trading system.

Management of emotions is another, I have known of people who have brilliant strategies, excellent trading plans and very effective risk management system with which they trade but still struggle with their emotions bringing everything to a zero sum struggle all over, if they are able to overcome emotions I believe even a beginner wouldn't be long before they will start trading like a pro.

When someone trades and they do not have patience of course there will be many losses that will be obtained from the trades they make because they cannot trade well, with patience in trading they will be able to know the right time to enter the market and also exit because someone could make a mistake in holding on while they have to release the assets they hold for the profits they have earned.

You are right even though someone has understood well the right strategy for trading but they still have not overcome emotions when trading then they still experience failure and for beginners of course must continue to train so that they can always overcome emotions when trading if they do not want the trades they make not in accordance with what is desired.