What makes a successful trader?

As a trader, you need to follow your own path. But successful traders have certain qualities in common that help them reach their goals in the market.

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

Committed
Successful traders stay focused while trading, and take advantage of risk-management tools when they take their eye off the markets.
Introspective
It’s all about understanding yourself and devising trading strategies that match your strengths and weaknesses.
In control
Whatever the scenario, successful traders keep their cool and never let losses or profits make them lose control of their emotions.
Realistic
Recognise that losses are just part of trading, so keep your goals realistic and don’t take trades that are outside your comfort zone.
Patient
Top traders don’t chase the market – they know from experience that there will always be opportunities if you’re patient.
Adaptable
The 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.
Responsible
Successful traders don’t blame others for their mistakes – if you want the reward, you need to accept the risk.
Creative
Don’t limit yourself to one set of ideas – top traders look beyond the obvious, ignore the crowd and think for themselves.
Confident
You 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

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.

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