10 habits of a Good Trader

Discussion in 'Trading' started by Jamie J., Aug 17, 2016.

  1. wildchild

    wildchild

    Put a good money management plan to work. Its key.
     
    #31     Aug 23, 2016
  2. Overnight

    Overnight

    Bang on, right there. Kudos, Mr. IronFist!
     
    #32     Aug 25, 2016
  3. Cprice253

    Cprice253


    @IronFist

    You make a good point and I do agree with you, and want to add that my statement of there being a million ways to make money was quite ludicrous. On your ranking of what is most important, I believe that all three should be on the list, but that for some traders it may be that having a good system, being able to follow it, and being psychologically fit all are a equally important. It may not be as absolute as you state it is. Now again, I am not saying you are incorrect, I am suggesting that there could be a complex that exists in which the multiple aspects of trading you have ranked are important to the same degree as one another.

    What if I was a new trader, and was given a rock solid, back-tested and proven profitable strategy but did not understand the importance of following the system, managing my positions/money, nor aware of the different emotions and other psychological shocks I may encounter.

    Or if I was a new trader, and was taught all about the best money management and psychological approaches know within the trading arena, but was given a shoddy system that had a negative expectancy.

    I don't know, maybe an individuals disposition to this situation depends on their personal experience with the market, and what they personally feel has helped or hindered them most in the market.
     
    #33     Aug 28, 2016