What Makes a Good Trader?

Verified Official
· View 123

What separates good traders from bad traders?

A good trader realizes that trading is patiencediscipline, and requires a trading approach adapted to their specific psychological profile.

A good trader concentrates on the PROCESS of trading, and not just on the result.

Here’s a list of other things that good traders do:

What Good Traders Do

A good trader knows if they have sufficient risk capital in order to achieve their financial objectives.

A good trader always acts according to their own judgment. They think for themselves rather than be blindly influenced by others.

A good trader never trades on hope. They analyze the market and take calculated risks.

A good trader stays out of the market when in doubt.

A good trader does not chase the market. They wait for signals to appear based on their market analysis and trading strategy.

A good trader does not overtrade.

A good trader does not fight against the trend. While they may trade pullbacks or countertrend swings, they are aware that this price movement is temporary.

A good trader always knows the reward-to-risk ratio of every trade.

A good trader cuts their losses instead of hoping that the trade will turn around.

A good trader allows their profits to run until an exit signal based on their trading strategy is triggered.

A good trader always analyzes their closed trades to find any lessons on how they can improve.

A good trader is patient and knows that there are periods when they don’t need to trade.

A good trader never widens a stop loss.

A good trader never cancels a stop loss.

A good trader treats each trade separately.

A good trader exits the market when in doubt.

A good trader does not blindly follow the advice of others.

Reprinted from Babypipsthe copyright all reserved by the original author.

Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

If you like, reward to support.