What makes good trader good? This is the question that I’ve asked myself on numerous occasions and so many times I couldn’t come up with an answer.
One could ask what makes good soccer player or good basketball player or, for that matter, what differentiate good participant from bad participant in any performance field?
Traders, who just have started, would probably say that it is good system what makes good trader – Give me the system that makes money and I will make money!
What I’ve concluded after more than five years of trading is the following:
If you don’t want to learn how market works or what moves market up or down; to learn about discipline, indicators, trending versus range bound markets; to spend many hours watching for different pattern setups; to scan through different time frames and many other things, than you should not pursue trading. Rather find niche in which you will love to spend hours learning and improving. Probably, you will excel much more in what you love, then in something that is hype and what your colleague at work might have told you about.
Path to success in this game is very long and very difficult - When you arrive there, reward is going to be massive!