5 Signs You Will Become a Successful Trader

Becoming a consistently profitable trader doesn’t happen by accident. Right now we’re hearing a lot of stories of people who YOLOed their life savings into Dogecoin and made life-changing returns. Finding an investment that goes up 1000’s of percent in a year is a one in a million chance.

Eventually, all these traders will put their winnings into another speculative investment, and then what usually happens occurs: A huge 50% loss.

This blog what it takes to consistently succeed in the markets with skill. Successful traders create their own luck.

If you develop these traits, it is a matter of “when” rather than “if” of your trading success:

You Contain Losses

Huge losses are the number one obstacle for every aspiring traders. A few hours of poor risk management can undo, weeks or months of consistent and disciplined trading. Every trading day you need to show up with your A-game. This is why you need to manage your risk:

You Manage Emotions

If you don’t control your emotions, your emotions control you. Trading is a game of fear and greed. Fear of losing money. Fear of missing out. Getting too greedy in a trade. Trade only what you can afford to lose.

You cannot bet your life savings on any investment or trade. Trade only a fraction of your net worth so you can view the markets objectively.

You Think For Yourself

Everyone has an opinion. Social media, news outlets, chatrooms make more noise than ever. You won’t be able to ever stay in winning trades if you don’t learn to think for yourself and block out the noise.

You have to learn to trust yourself, your trade thesis and block out everything else. This is the only way you can build the confidence and conviction needed to generate consistent trading results. No one got rich from following or listening to others:

You Are Resilient

Every trader will suffer big setbacks in their trading career. No matter how experienced. It’s not about avoiding losses. It’s learning to handle them, and respond strongly. You will have weeks where you don’t make money. You will have bad luck. Order’s won’t fill. You will get stopped out of trades right before they make the big move.

Trading is the best profession there is. But you have to be able to deal with the setbacks to achieve in the job that has the most freedom in the whole world.

You are Patient

Waiting for the right stock. Waiting for the setup. Letting your winning trades ride. Growing your account slowly. Patience is what allows you to reach peak trading performance. The whole process of becoming consistently profitable is a game of patience. Trading requires you to work your ass off and be disciplined for years before you develop consistency.

Impatient people cannot succeed in trading. When you decide to embark on the trading journey, you make difficult choices that most people won’t choose, to live a life and achieve freedom 99.99% of the world won’t ever have. Find mentorship early in your career to shorten your learning curve.

The same process needed for success is similar to achieving any worthwhile endeavor: Launching an e-commerce business, getting in shape, finding a great partner. Name any worthwhile outcome in life. it will take time, dedication, and patience to achieve.

Summary