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Trading the Trend (Collection) by Michael W. Covel

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D. Personality Traits of Successful Traders

I am grateful for the following contribution from Brett Steenbarger.

Luck is a dividend of sweat. The more you sweat, the luckier you get.

Ray Kroc, founder of McDonalds

In my book The Psychology of Trading, I referred to personality traits that tend to distinguish successful traders from less successful ones. Several of these traits are also likely to influence the degree of success traders are likely to have in adopting a trend following approach to trading. Following are several self-assessment questions that might be useful in determining whether you’ll face particularly great challenges in riding market trends. Please write down “yes” or “no” answers to each of the 12 questions before ...

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