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  1. Psychology of trading

How to know you are good trader

â—¼ Has great patience and doesn't eagerly need to make money

â—¼ Doesn't constantly look at the profit/loss 100 times a day

â—¼ Are disciplined with your own risk management guidelines

â—¼ Doesn't base a decision off a feeling (excitement, anxiety, FOMO, etc.)

â—¼ Understands what works and doesn't work (mainly based off your risk tolerance and level of patience)

â—¼ Is at peace with self and can easily brush off loses

â—¼ Is humble and open-minded and doesn't assume

â—¼ Has no ego and doesn't care to impress

â—¼ Has self-awareness and know his/her own strengths and weaknesses

â—¼ Has self confidence and self trust

â—¼ Is dedicated and maintains a consistent routine

â—¼ Sets weekly realistic goals to aims to achieve them

â—¼ Can focus and Is able to make critical and effective decisions

â—¼ Knows how and where to seek help if needed

â—¼ Knows how to filter facts from opinions

â—¼ Can work under pressure or knows to to remove him/herself from a pressured situation

â—¼ Maintains a positive work environment

â—¼ Can easily mentally reset from negative market reactions

â—¼ Is prepared and has plans for things to not always work out perfectly

â—¼ Accepts being wrong

â—¼ Responds to potential threats immediately and effectively

â—¼ Doesn't wait for last minute to protect the account

â—¼ Holds accountability for his/her own actions

â—¼ Maintains daily journal logs and trade plans

â—¼ Has an effective well designed system

â—¼ Knows when to trade and when not to trade

â—¼ Stays well informed with ongoing developments

â—¼ Doesn't take on any unnecessary risk

â—¼ Is open-minded and doesn't assume

â—¼ Doesn't fall in love with assets such as certain stocks or crypto currencies

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Last updated 3 years ago

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