How to know you are good trader
◼ Has great patience and doesn't eagerly need to make money
◼ Doesn't constantly look at the profit/loss 100 times a day
◼ Are disciplined with your own risk management guidelines
◼ Doesn't base a decision off a feeling (excitement, anxiety, FOMO, etc.)
◼ Understands what works and doesn't work (mainly based off your risk tolerance and level of patience)
◼ Is at peace with self and can easily brush off loses
◼ Is humble and open-minded and doesn't assume
◼ Has no ego and doesn't care to impress
◼ Has self-awareness and know his/her own strengths and weaknesses
◼ Has self confidence and self trust
◼ Is dedicated and maintains a consistent routine
◼ Sets weekly realistic goals to aims to achieve them
◼ Can focus and Is able to make critical and effective decisions
◼ Knows how and where to seek help if needed
◼ Knows how to filter facts from opinions
◼ Can work under pressure or knows to to remove him/herself from a pressured situation
◼ Maintains a positive work environment
◼ Can easily mentally reset from negative market reactions
◼ Is prepared and has plans for things to not always work out perfectly
◼ Accepts being wrong
◼ Responds to potential threats immediately and effectively
◼ Doesn't wait for last minute to protect the account
◼ Holds accountability for his/her own actions
◼ Maintains daily journal logs and trade plans
◼ Has an effective well designed system
◼ Knows when to trade and when not to trade
◼ Stays well informed with ongoing developments
◼ Doesn't take on any unnecessary risk
◼ Is open-minded and doesn't assume
◼ Doesn't fall in love with assets such as certain stocks or crypto currencies
Last modified 2yr ago