Tag Archives: Forex Trading

What defines a great trader?

For many people, success comes and goes in Forex trading. They have a good period for a time, followed by a dip where things aren’t going as well. But for a minority of trader, bad luck just doesn’t seem to exist. Their capital keeps growing steadily without ever dipping down. But what is it that makes these traders so successful, and what is it that differ them from the average trader? Surprisingly, the answer lies not just in their knowledge and skill, but also in their psychology and personality.

In many cases, people who become greatly successful in certain areas are also successful in life in general. This is because they have a certain set of personality traits that set them on the right path in everything they participate in. It’s easy to see what defines a “winner” if we look a bit closer. First of all, they tend to be positive about things. Instead of seeing mistakes, they see a lesson learned. Instead of seeing flaws in themselves, they see areas to improve.

Secondly, you will find that successful people tend to be empathic and show a willingness to listen. There is a reason we have two ears and only one mouth, and they should be used in proportion. Good listeners are usually fast learners, while people who talk to much tend to think that they are always right, and thus unwilling to learn new things.

Successful people always have faith in their own abilities, and if things go wrong, they assume that it wasn’t in their control to change what happen. They are also prepared to work for their success, and not just assuming it’s going to come by itself.

So why do these personality traits help a Forex trader. Well, it’s obvious isn’t it? Succesful people are determined to make it in the Forex trading market, and therefore they are prepared to put in all the effort necessary in order to reach their goals. Other people, who aren’t “winners” might just create an account, red a strategy guide or to, and then just expect success to come to them automatically, without actually having to work for it.

We can’t all just naturally possess all these personality traits, but at least we can work towards getting them. So when you get in to forex trading, make sure to set up a list of the goals you want to acheive in your career and make sure to work as hard as you can to reach them. You can read some good guides on this at a spanish forex hub called Mercado de Divisas!