March 2011
Intermediate to advanced
304 pages
8h 24m
English
Chapter 2
The Six Attributes of a Successful Currency Trader
If you don't try what you can't do today, you will never know if you can do it tomorrow.
—Anonymous
What defines a successful currency trader? We have learned so far that it is not the trader who thinks it is easy, nor the trader who takes a hit-or-miss approach similar to flipping the proverbial coin.
It is more than likely that the successful traders treat trading as a business and have the motivation to get better. Does that mean that you have to trade eight hours a day? Not necessarily, although the more time you spend the better. What does it take to be successful?
WHAT ARE YOU GOOD AT DOING?
Think of the thing or things outside of trading that you have shown a positive progression at doing. It may be parenting. It may be a job you currently have or had. It may be preparing for, taking, and passing the CPA exam like my wife did. It may be writing, performing, and recording a song like my son Matt does. It may be a card game or hobby like bridge or wood carving like my mother and mother-in-law do. It may be an athletic endeavor like golf, tennis, or biking. It may be enhancing your spiritual life, whether you are Catholic, Protestant, Jewish, Muslim, Buddhist, or Hindu. Maybe it's a skill like coaching youth baseball, public speaking, even authoring a blog or book—things that I started with a low knowledge level and have shown a progression toward success.
If you think back to when you first started a new venture, ...
