Saturday, November 20, 2010

Characteristics of the Master Trader


Has a rational approach to trading. Does not trade for egotistical
reasons, to feel good, to get high, to work out long-standing
psychological needs.

Is skillful at self-mastery in the setting of high tension and
stress in the marketplace. Is confident of ability to deal with reality
rather than be governed by interpretation and reactivity.

Builds confidence from experience and learns skills from adversity.

Regularly monitors his or her performance so as to enhance
it.

Is able to see low-risk ideas. Can read reality without misinterpreting
it in terms of hidden agendas or unrealistic dreams.

Is able to drop low-risk ideas that don't work, without investing
in failure cycle, or overreacting to own reaction.

Has basic disciplines of hard work and concentration, and
knows about extra effort. 

Has self-monitoring skills and capacity
for visualizing future events and rehearsing them mentally.

Interested in activities and in the processes involved.

Is committed to objectives and able to modify strategy based
on feedback from performance. 

Is able to cut losses and increase
risk appropriately and not hedonistically or foolishly.

Is able to empower others to assist him or her in realizing objectives;
able to identify with others compassionately and to assist
them to stretch and grow; able to rely on others and to
profit from them but not dependent on their approval. 

Takes responsibility for success of efforts. Is humble in recognizing
the necessity for the support of others.

Is adaptable to change and able to modify course as he or she
progresses.

Sees the challenge of the trading game. 

Is not overly invested in money. Is able to enjoy profits but not dominated by them;
able to bounce back from failure; able to recognize that losses
are inherent in die process.

Can handle success and failure without self-destructing.

-Dr. Ari Kiev

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