Important Characteristics of a Successful Trader

First of all the reality is that not everyone who takes up trading will become a star. That is true in golf or snow skiing or any other sport too. It is also true that while one can learn to trade by following the rules that may lead to success, bad habits die hard. Changing one's existing mindset to that of a mindset required to be a successful trader requires more than a paradigm shift. It requires a complete reorientation of one's habits. Habit formation is the process of making a response automatic or instinctive. There is a difference between reacting and responding. A proper trading attitude is responding to the market by listening to it and then behaving in a way that is in accordance with your own system that has been tested and which makes you comfortable and confident to take trades. Reacting is the process of listening to every Tom, Dick and Pundit. Good trading is between you and the market. Eliminate the noise and keep it simple. That's it!