The foundation of any trader is self-discipline. To trade profitably, you need to make sure you are giving your time and energy to the right things. This means being disciplined when it comes to what you do and the time you put into it. It is not easy, but it can be rewarding if you have a positive outlook and attitude.
To be a good trader, you need to include self-awareness, a solid understanding of the market, risk management, and a willingness to learn. For example, as a new trader, you need to do your research and understand the market. This means reading and understanding the news, technical analysis, and other information you will need to succeed. A good trader is also aware of their strengths and weaknesses. That way, they can plan a trading schedule that is the most rewarding for them and their goals.
You also need to have a positive outlook on trading. Trading can be frustrating at times, especially when the market is trending against you. A good trader is willing to stay the course and work towards their goals. Their trading plan outlines their long-term goals and a realistic timeline for achieving them.
Finally, a good trader is a self-motivated person. That means they are willing to put in the time and effort it takes to become better traders. They know this is not something that will happen overnight. They are patient and willing to put in the work to achieve their goals.
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