Are you a good Trader ?

These days everyone interested in Trading the Forex Market wants to be a Forex Trader.

To determine if you will be a good trader, ask yourself the following questions…

a Person who has a good chance at being a successful trader has the following attributes.

  • Is properly capitalized – enough money to trade and survive.
  • Treats Trading as a Business.
  • Has a low tolerance for risk.
  • Trades only when the market provides an opportunity.
  • Can control your emotions.
  • Has a Trading Plan.
  • Has a risk management plan.
  • Is incredibly disciplined.
  • Is focused.
  • Has back tested his trading methodology.

a Person who has a good chance at failure has any of the the following attributes.

  • Is undercapitalized.
  • Lacks discipline.
  • Overtrades.
  • Does not understand the markets.
  • Rushes into trades.
  • Chases the market.
  • Is afraid of missing a move.
  • Is stubborn and marries a position or idea.
  • Misinterprets the market news.
  • Is always looking for home runs.
  • Lets losers get too big.
  • Takes winners prematurely.
  • Takes trading too lightly.
  • Takes large risks.
  • Has little control of his emotions.

Suggested reading:

Before he became a successful trader, Marcel Link spent years wading from one system to the next, using trial and error to figure out what worked, what didn’t, and why.

InĀ High Probability Trading, Link reveals the steps he took to become a consistent, patient, and winning trader–by learning what to watch for, what to watch out for, and what to do to make each trade a high probability trade.