Good Trader
- A strong innate drive to improve and develop trading skills on an on going basis.
- An understanding that even with a brilliant trading system the trades require discipline, focus, and monitoring.
- The outcome is to trade the system correctly and not focus on how much money is being made or lost.
- Having a methodology and trading your system with certainty and trust knowing the money is there for you.
- Executing with discipline and balancing your emotions.
Novice Trader
- Overconfidence at the beginning with winning trades and thinking that trading is easy.
- Over-trading taking unnecessary risks that create large nerve racking losses.
- Not following your system and losing trades creating fear in your trading, we call this depleting your psychological capital.
- Missing trades due to fear and building “traders fog.”
- Aggressive trading due to missing opportunities resulting in bad trading strategies and trade ideas, and ultimately bad trades.