Some qualities a good trader should have

[Pandu Geddon]

As you said that trading can be an easy activity to learn but that is also only when the person has a high spirit in dedicating himself to learning and also only when the person goes through everything gradually and carefully, in the sense of coming with the right approach and understanding that trading is not a get-rich-quick scheme.

Indeed we must admit, more beginners learn trading because of the desire to make quick profits. Traders may have a strong motivation to learn trading or develop their trading skills. but unintentionally, the intensity of trading or learning trading sometimes makes beginners fall into an explosive desire. they can actually be wrong in taking good trading positions, trading continuously and they may even chase losses.
learning trading may be easy to do on your own. but getting control from those who are more experienced may be better for someone who is learning trading.

[retreat]

Those are very common basic things that traders need to know, but in practice not all traders are able to fulfill these things. In fact, there are still many traders who still trade with a gambling mindset or they just enter the market and then exit with a loss. Because saying it is very easy compared to practicing it, but if a trader is able to practice it, it can make them a good trader as you said.

[DediRock]

Great points! Discipline, intellectual adaptability, and mental fortitude are indeed key qualities for success in trading.
I also believe that having a well-thought-out risk management strategy is vital to navigating market uncertainties.

How do you personally handle emotions during trades, especially when things don’t go as planned?

[Dewi Aries]

As you said that trading can be an easy activity to learn but that is also only when the person has a high spirit in dedicating himself to learning and also only when the person goes through everything gradually and carefully, in the sense of coming with the right approach and understanding that trading is not a get-rich-quick scheme.

Indeed we must admit, more beginners learn trading because of the desire to make quick profits. Traders may have a strong motivation to learn trading or develop their trading skills. but unintentionally, the intensity of trading or learning trading sometimes makes beginners fall into an explosive desire. they can actually be wrong in taking good trading positions, trading continuously and they may even chase losses.
learning trading may be easy to do on your own. but getting control from those who are more experienced may be better for someone who is learning trading.

In most cases, it is this misunderstanding that ultimately often leads a trader to various setbacks such as losing an unnecessary amount of funds, wrong mindsets and perspectives such as assuming that trading is a place to make money easily and quickly will make a trader act hastily every time they enter the market, or in the sense that this mindset is very likely to encourage a trader to act rashly in the approach they have so that in the end the amount of loss increases from what it should be.

Learning trading certainly requires strong intentions and determination but also requires spending or sacrificing some money in the adaptation stage and of course when a trader has the wrong mindset and approach, the possibility of the amount of loss will certainly be greater and usually unbearable in the sense that it makes them lose a lot of money until they finally lose interest in continuing the journey in dedicating themselves to learning, therefore this is why having a mentor is also quite recommended to continue monitoring you so that you stay on the right track.

[beerlover]

Is all end up in a good trader should have understanding of how the market works. Market movement is what makes many traders lose their money; they don’t study the market well before taking any further decisions, and that’s why many of them will later regret their actions at the end. Some of them are not emotionally stable when trading, and that is why instead of making the right decision, they think if they continue leaving that trade they will lose the money.

Some people find it very difficult to learn through online materials. They prefer to have face-to-face lessons because it makes them understand faster. Such people could locate physical crypto trading schools where they can get the basics of trading. They might then proceed to online platforms to expand their knowledge because trading is vast and dynamic.

This is very tough in today's world but you can still find some classes that happens at zoom if they can handle that. It's not exactly face to face, but you still see someone and you talk with them and it's a class, so it's not one on one class but it's with plenty of people, depending on how good quality it is, usually with a lot of people. I joined one free session once, I earned from some purchase, normally people pay about 49 bucks a month for these classes, and there were about 20 or so "students" in there, I got in, knowing everything about bitcoin there is because I have been here for over ten years, but wondered how good this class is.

I have to say, learning this way is definitely far better than just reading material online or some youtube video. People should realize asking a teacher about things you didn't quite understand is ok, and maybe other students would be annoyed, but you make sure you understand everything well that way.

[Adams0001]

Those are very common basic things that traders need to know, but in practice not all traders are able to fulfill these things. In fact, there are still many traders who still trade with a gambling mindset or they just enter the market and then exit with a loss. Because saying it is very easy compared to practicing it, but if a trader is able to practice it, it can make them a good trader as you said.

You are correct, all of this is quite normal for traders to be aware of, but many individuals are unable to do so since they are only interested in making money from trading without understanding why they are doing so. If you don't understand anything about trading, it's like putting money on fire and watching it burn without getting anything out of it. Trading isn't for everyone because many people will try every time but still achieve their goals, so some people don't waste time and move on to something else where they can try to get something out of it. But I usually believe that anything is possible for a person who is patient enough to understand things and be professionally like others, because I don't think they have something that is impossible. But if you says you can't wait patient anything you will always be difficult for you.

[Adbitco]

Note: Keep in mind a reason is necessary why you want to be a trader why not an employee why not to be an enterprise and anything else you can be.

I think people love trying the alternative and for that he decides to go into trading which is fine and I know but, have he also considered the effects? Well, everyone with their choice of side hustle or additional source of income but sincerely, before someone can stabilized in trading there would be so many lessons which he must undergo before definitely start earning, so as for me it's advisable to look into investment than trading.

It should be done slowly, step by step.
The market won't be generous to you without the needed tools, knowledge, and expertise.
For some time, you would need to combine your work and your side job, per se.
Only then you would be able to take a decision whether to go full-on trade mode or not.

It mostly depends on the nature of their jobs, which i believe most of the foreign countries do works on hourly basis and not our people who works 9-10 hrs and they are underpaid. It is easy to work hourly and do trading and for that one can decides for short trade or but if he gives more priority to trading then he would work less and put more efforts on their trading. But however, i still gives more priority to investment as it's less hassle free and you wouldn't be that in a hurry to meet up and learn much about the trading to start succeeding with the trading. But investment can be hold for years after which he may decides to sell off and take his profits.

[justdimin]

all of this is quite normal for traders to be aware of, but many individuals are unable to do so since they are only interested in making money from trading without understanding why they are doing so. If you don't understand anything about trading, it's like putting money on fire and watching it burn without getting anything out of it. Trading isn't for everyone because many people will try every time but still achieve their goals, so some people don't waste time and move on to something else where they can try to get something out of it. But I usually believe that anything is possible for a person who is patient enough to understand things and be professionally like others, because I don't think they have something that is impossible. But if you says you can't wait patient anything you will always be difficult for you.

If you only focus on "making more money", then you are going to forget about all the details that you are going to need for something like this. Obviously everyone trades just to make money and there is no other reason to trade, but if you focus on the most amount of money then you are forgetting how that is done. Studying, learning, experience, learning from mistakes, all of these are important and if you just focus on making most money then you are going to be looking for the next trade and nothing more and you will be rushing and making a mistake.

This is why I believe we should be careful with what we have and nothing more. I believe we could be making some money while learning about it and not rush into this at all. I think this will be a very tough situation but we can't really see what is going to happen and this should be a very hard to focus in the future. This won't be a simple situation, but we can make this work one way or another.

[GigaBit]

Discipline is required to successfully manage any work. A trader has to constantly make various strategies and plans but he must follow the plan. The market sentiment may change from time to time but the trader must remain consistent with his target.

Many times greed works in traders which traders need to understand. If they fall into that temptation, they will surely face huge losses. A trader should set a limitation on his profit. Especially those who are short term traders can be satisfied with a small profit. Then they can definitely succeed in trading.

There is no guarantee that a trader will be successful just by following certain guidelines to make profit. Appropriate decision should be taken by understanding the market well. Otherwise there is a possibility of exposure to loss at any time.

Although the theory is not very useful in this platform but if you know it is possible to do well in trading.

[betswift]

Discipline is required to successfully manage any work. A trader has to constantly make various strategies and plans but he must follow the plan. The market sentiment may change from time to time but the trader must remain consistent with his target.

Many times greed works in traders which traders need to understand. If they fall into that temptation, they will surely face huge losses. A trader should set a limitation on his profit. Especially those who are short term traders can be satisfied with a small profit. Then they can definitely succeed in trading.

There is no guarantee that a trader will be successful just by following certain guidelines to make profit. Appropriate decision should be taken by understanding the market well. Otherwise there is a possibility of exposure to loss at any time.

Although the theory is not very useful in this platform but if you know it is possible to do well in trading.

Trading responsibly means you will learn much more in the long run.
Otherwise, you may not see the boons from your positions in the end, thus ensuring that you wouldn't succeed in the long run.

[Rampagoe004]

You are correct, all of this is quite normal for traders to be aware of, but many individuals are unable to do so since they are only interested in making money from trading without understanding why they are doing so. If you don't understand anything about trading, it's like putting money on fire and watching it burn without getting anything out of it. Trading isn't for everyone because many people will try every time but still achieve their goals, so some people don't waste time and move on to something else where they can try to get something out of it. But I usually believe that anything is possible for a person who is patient enough to understand things and be professionally like others, because I don't think they have something that is impossible. But if you says you can't wait patient anything you will always be difficult for you.

The most important thing in trading is to be aware of what traders must do to make money. Many of the traders are not able to learn the things that are needed so that traders can produce what they have to do, many traders are unable to apply certain rules so they move on to other things that produce results quickly,
I think whatever is done in a hurry without waiting patiently will This is a big risk for a trader. Don't complicate yourself for the sake of an instant desire in trading, it could be a bad start in the future.

[Dewi Aries]

You are correct, all of this is quite normal for traders to be aware of, but many individuals are unable to do so since they are only interested in making money from trading without understanding why they are doing so. If you don't understand anything about trading, it's like putting money on fire and watching it burn without getting anything out of it. Trading isn't for everyone because many people will try every time but still achieve their goals, so some people don't waste time and move on to something else where they can try to get something out of it. But I usually believe that anything is possible for a person who is patient enough to understand things and be professionally like others, because I don't think they have something that is impossible. But if you says you can't wait patient anything you will always be difficult for you.

The most important thing in trading is to be aware of what traders must do to make money. Many of the traders are not able to learn the things that are needed so that traders can produce what they have to do, many traders are unable to apply certain rules so they move on to other things that produce results quickly,
I think whatever is done in a hurry without waiting patiently will This is a big risk for a trader. Don't complicate yourself for the sake of an instant desire in trading, it could be a bad start in the future.

True, learning various things to find out about what a trader needs to make a profit is something that a trader must do because after all, that is the only way we can achieve a number of benefits considering that the profit in trading depends on how skilled a person is or how much knowledge a trader has. Another thing related to a trader who is unable to implement the various suggested plans or those who do not want to learn various things first before entering the market is that they are most likely to come in a hurry due to a misunderstanding in terms of understanding what and how trading really is, and in the end of course this is what makes some traders end up failing and losing more money instead of making a profit, on the other hand we must know that trading is not a get-rich-quick scheme, as in general that everything requires a process and sacrifice first in order to produce.

[TheUltraElite]

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.

A trader, if disciplined, will also become down to earth. Indeed greed and pride can both kill and keeping those emotions in check among others is an important part of becoming a good trader.

Being stoic and learning how to deal with people gives you good insights on how to face life and the same can be applied to trading too. No situation is such that it cannot be tackled, its just that most of us lack the proper mental fortitude to remain calm through it. But this can be learnt through practice and thus trading takes time to learn too. Dummy trading has its role, provided the person takes it seriously, assumes that their money is at stake and approaches the trade with such situation in mind.

[FortuneFollower]

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.

A trader, if disciplined, will also become down to earth. Indeed greed and pride can both kill and keeping those emotions in check among others is an important part of becoming a good trader.

Being stoic and learning how to deal with people gives you good insights on how to face life and the same can be applied to trading too. No situation is such that it cannot be tackled, its just that most of us lack the proper mental fortitude to remain calm through it. But this can be learnt through practice and thus trading takes time to learn too. Dummy trading has its role, provided the person takes it seriously, assumes that their money is at stake and approaches the trade with such situation in mind.

Yeah, some think it's obsolete (about dummy trading), however, it's a great practice in my book once you think of it responsibly and take the money given as your real depo.
Of course, talking about tackling emotions is much easier said than done, however, it's essential for success to be achieved.

[betswift]

You are correct, all of this is quite normal for traders to be aware of, but many individuals are unable to do so since they are only interested in making money from trading without understanding why they are doing so. If you don't understand anything about trading, it's like putting money on fire and watching it burn without getting anything out of it. Trading isn't for everyone because many people will try every time but still achieve their goals, so some people don't waste time and move on to something else where they can try to get something out of it. But I usually believe that anything is possible for a person who is patient enough to understand things and be professionally like others, because I don't think they have something that is impossible. But if you says you can't wait patient anything you will always be difficult for you.

The most important thing in trading is to be aware of what traders must do to make money. Many of the traders are not able to learn the things that are needed so that traders can produce what they have to do, many traders are unable to apply certain rules so they move on to other things that produce results quickly,
I think whatever is done in a hurry without waiting patiently will This is a big risk for a trader. Don't complicate yourself for the sake of an instant desire in trading, it could be a bad start in the future.

True, learning various things to find out about what a trader needs to make a profit is something that a trader must do because after all, that is the only way we can achieve a number of benefits considering that the profit in trading depends on how skilled a person is or how much knowledge a trader has. Another thing related to a trader who is unable to implement the various suggested plans or those who do not want to learn various things first before entering the market is that they are most likely to come in a hurry due to a misunderstanding in terms of understanding what and how trading really is, and in the end of course this is what makes some traders end up failing and losing more money instead of making a profit, on the other hand we must know that trading is not a get-rich-quick scheme, as in general that everything requires a process and sacrifice first in order to produce.

Never push things up in time - only by metrics and factors that you can see and understand you should move out and open or close positions due to them.
It will never be easy, but it surely will be rewarding if you master that.

[jcojci]

All the things that @OP describe is a must to be a good trader. Maybe I can add one more which is never give up that related to the mental fortitude for trading. That is because many trader decide to stop trading once they lose consecutively and saying that trading is not for them. That is wrong because as long as they want to learn more about trading and willing to spends more time to research from many lessons, they will see their skills improve. Although the skill will not improve fast, but they can trade with better than before.

Although trading is not easy but with their skill, they can minimize the losses not to becomes bigger. They know when they can trade, when just to watch the market moves, when they must quit trading and else. That is from their lesson and experienced so they will becomes a pro trader. It needs time to be a pro trader but with a strong will, they will have that chance.

[Dip69]

If you have a strong will, people can do anything. I want to say that to be a good trader, the most important thing is to control your greed. If you trade with 100% of your money, then there is a high chance of you losing. (Because then you make mistakes in trading due to excitement, respect, a little mistake) For that, you have to control your greed first, then you cannot get overly excited thinking of a sure short.

[Glory001]

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 you are right, but I think that their are some key qualities a trader must have which is not in the mix, so what am going to do is to àdd to what you are saying.

So I think that emotional control is one key attributes a trader must have, because if you can't control your emotions, all your trading skill like patience, and knowledge on technical analysis are a waste, because you will still be losing money, so emotional control is very much important as a trader.

Then another skill a trader must have is to know when to stay out of the market, because their are so many opportunities in the market, but if you don't know when to stay off, you wouldn't be profitable on the longer run.

[Jaycoinz]

The mental fortitude is very important for every trader, you must learn to master your emotions. A lot of people blow up their trading accounts because they lack self-control, after losing money in a trade their next approach would be a revenge trade to get back what they lost in the market. Trading without discipline is preparing yourself for setbacks and failure. Always remember to exercise patience, you can't always get back what you have lost in a day sometimes it might take a while but you must learn to manage your emotions.

[justdimin]

Never push things up in time - only by metrics and factors that you can see and understand you should move out and open or close positions due to them.
It will never be easy, but it surely will be rewarding if you master that.

What if it is about a deadline that needs to be finished on time? Or if we think we are already ready? Sometimes pushing is only what we need to keep on moving from getting stuck in a rut. Metrics and factors are still there because if not, we can only fail. I actually think this is only easy because we already know that they are essential for our success than just play or act blindly.

Sometimes, people are only too confident and this is the one that kills them. They know it and that is why they regret at the end. Maybe they will still try again though and this time they will now be serious. Guess all are still like this. As they say, none is born to be perfect.