Characteristics of a Successful Trader

1. Adequate trading knowledge and understanding. You should seek services of good quality
mentors and a trading coach.
2. Adequate capitalisation – Don’t be fooled that you can earn thousands every week from a
starting capital of $500
3. Realistic Goals – don’t expect 100% profit each month, it simply is not possible.
4. Have patience – don’t trade if you don’t have to. You should wait for a set-up according to
your trading plan and system.
5. Have Discipline to follow your rules
6. Understanding and Managing Risk
7. And lastly the most important is having a Trading System and a Trading Plan. Virtually
90% of Traders that I have coached have never had one!
If you look at the advice from the world’s most successful people or traders today, you will notice
that they follow the guidelines as identified above.

“Define first the level of risk you dare assume. Start with a small position, and then build it up if it
works”

– George Soros

“Give me a stock clerk with a goal and I’ll give you a man who will make history. Give me a man
with no goals and I’ll give you a stock clerk”

– J.C. Penny

“ If you go to work on your goals, your goals will go to work on you. If you go to work on your
plan, your plan will go to work on you. Whatever good things we build end up building us.”

– JimRohn