5 Characteristics of Successful Traders

As a money manager, I associate with a lot of other money managers. Some of them were successful, some of them were not and none of them ever taught their systems. They all said I was crazy when I said I was going to teach my system. But knowing what I know about volume and liquidity on the daily charts I knew I wouldn’t be hurting myself. No trader worth their salt would ever share their system if it hurt their own fills and performance; no matter how "nice" they seem. With that said I want to share with you five characteristics of successful traders. All the successful money manager I know have these traits.

1. Successful traders don't "makethingshappen". If you try to force the market and enter too early because "you know it's going to go up" you will get burned. The key is to be a follower, not a leader. Follow your system (if it's a proven system like mine that is) and don't make things happen outside of it. If you have a trigger finger and can't help clicking your mouse, then do it on a demo account. Just don't think when you get lucky a few times that it's ok to "make things happen'. That is the whole reason for using a system and milking the slight edge it gives you. My favorite quote is “Learn to do nothing!”.
2. Successful traders are prepared. I have 7 steps that I take before every trading day. It's also very important that you have a trading plan and that you stick to it. I will show you how to plan each trade quickly and easily each night in only 10 minutes after you learn my system.
3. Successful traders remain emotionally detached. Once you enter a trade, are you willing to forget about it until your pre-determined exit strategy is met? I admit that it's fun to watch your trading account soar in a matter of days, but watching it too closely can be dangerous. My after market trading planning eliminates 99% of emotion because all decisions are made while the market is closed and not moving.
4. Successful traders expect to become rich. Can you picture yourself wealthy? Successful traders can. Don't limit yourself. Prosperity must be on the inside of you before it is on the outside. If not you will self sabotage your trading account when it starts to get too high because of a subconscious hang up that you don't deserve to be rich. I will teach you how to think and overcome any hidden physiological obstacles that are hindering you from success. That is part of my mentoring program.
5. Successful traders all have a mentor. Warren Buffett looked up to and learned from Ben Graham. Jim Rogers learned from George Soros. My personal mentor is still in the business (and no he doesn't teach his system). Sure Warren Buffet modified his system from Ben Graham to make it his own. All good traders "make it their own" after learning all the system trade rules. That is why my system has three sets of trading rules. One set for those who are conservative, another for moderate, and another for aggressive traders.

This lets you take ownership of your trading. Taking ownership could be listed as number six. Why would you be any different in the respect to needing a mentor? It's a fact and if I have to "sell" you on this part I'm not sure you understand how life works. For example, on your current job did anyone teach you anything so you could do your job effectively? Yes, that’s what I thought! Mentorship is the only way to learn, this is why college grads without internship experience have a hard time finding a job and why college grads with intern experience find jobs easily.

To Your Trading Success,