A friend of mine embarked on trading without a proper mentorship and lost all his assets.
So I want to ask? What are the criteria’s to become a good trader?
First we should define who a good trader is. A good trader isn't someone who doesn't record losses, besides there is no trader who record loss. A good trader is one who knows when to pause and re-evaluate trading strategies which brings us back to the question. To become a good trader you need to be;
- Patient enough to wait for a market you understand before you risk it.
- Intelligent enough to know when to avoid the market
- Conscious enough to know when to exit a trade
- Knowledgeable enough to always update what every strategy being used
- Wise enough to always confirm every market setup including that which are gotten from bots