The Mental Strategies of Top Traders: The Psychological Determinants of Trading Success

7.6. CHAPTER IN REVIEW

1. While leadership is comprised of many variables, all good leaders want to improve, want to win, are committed to their objectives, and are willing to do what it takes to keep improving their performance and that of their team. They seem to be driven by a need for achievement, are lifelong learners, and thrive on challenges and moving from ignorance to efficiency.

2. Not everyone is born with good leadership skills, but many of these skills can be learned if a person is willing to be coached.

3. Leadership is ultimately about defining the vision of your team or organization and giving people the courage to create something that didn't exist before. It means defining the objective, developing a strategy, and empowering the members of your team to reach deeply into themselves to find the wherewithal to produce the results for which you are seeking.

4. To be a successful leader, you must be assertive enough to lead others empathetically without bullying them so that they don't lose their faith in your leadership. You have to understand that others may have insights and abilities beyond the scope of your own knowledge and experience.

5. It is important to communicate with your team in terms of their strengths so that they can naturally take on the functions that are designated for them. Behavioral changes ultimately occur as a result of a motivation to change; therefore, you have to understand how to motivate your team.

6. As a leader, your responsibilities include creating, managing, ...