Some traders are cautious types who like to follow the long-term trend, while others may prefer the rush of day trading – but whatever their strategy, successful traders often share some key qualities. Which of these traits do you possess – and where can you improve?
Top trader traits
- Successful traders stay focused while trading, and take advantage of risk-management tools when they take their eye off the markets.
IntrospectiveIt’s all about understanding yourself and devising trading strategies that match your strengths and weaknesses.
In controlWhatever the scenario, successful traders keep their cool and never let losses or profits make them lose control of their emotions.
RealisticRecognise that losses are just part of trading, so keep your goals realistic and don’t take trades that are outside your comfort zone.
PatientTop traders don’t chase the market – they know from experience that there will always be opportunities if you’re patient.
AdaptableThe market is always in a state of flux – successful traders listen to what the market is telling them and adapt their strategies to changing conditions.
ResponsibleSuccessful traders don’t blame others for their mistakes – if you want the reward, you need to accept the risk.
CreativeDon’t limit yourself to one set of ideas – top traders look beyond the obvious, ignore the crowd and think for themselves.
ConfidentYou need to believe in yourself and your trading plan, and never let losses tarnish that conviction. Every trade is a new opportunity to achieve the goals you’ve set.
Tools to succeed
Tools to succeed
Successful traders know that risk is always present in the market – that’s why they need the right tools to manage risk on every trade. With SaxoTraderGO, easy-to-use tools like stops, trailing stops and our powerful Account Shield are always at your fingertips.