Best Forex Trader - 2 Characteristics of a Top Trader

By: Harold Hsu

There are so many traders in the currency market, and yet only a few are able to consistently make money. These are the people who are able to do the things that thousands of others can't. They are truly exceptional people.

In this article, I will briefly discuss the 2 main characteristics successful traders, and why it's so hard for others to follow in their footsteps.

Characteristic #1 - Discipline

In my opinion, this is the number one reason why most people fail to make money in Forex trading. There are plenty of educational resources to help most people become (at least) decent traders, and yet most people don't follow these useful teachings.

Why is that?

You see, when you're at your trading terminal (i.e. your computer or laptop), there's no one to tell you what to do. At work, your boss is watching your every move, and even at home, your family members are at some level keeping you in check.

When trading however, there's no one to stop you from making mistakes. You're allowed to cut corners; you're allowed to break your trading rules; heck, you're basically allowed to do anything you want!

And that's why most people fail... because they trade alone without supervision or help.

If you can master your own discipline, success as a trader will come naturally to you.

Characteristic #2 - Passion for trading

This is another characteristic of top traders that most other people don't possess.

Successful top traders are in love with trading. To them, it's a satisfying activity in itself - making lots of money is only a bonus. Their number one priority in trading is the satisfaction derived from a well-placed trade.

Most other people however, look at trading as only a means of getting rich. They chase after the latest fads and trends without developing a real passion for the game. After the initial excitement of trading is over (not to mention their empty trading accounts), they move on the next best 'money making' opportunity.

The people who have a true passion for trading will still be around, working hard to improve themselves and their trading system.

Foreign Exchange
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 

» More on Foreign Exchange
 



Share this article :
Click to see more related articles