Qualities of Great Trader

Great traders have really mastered a core set of skills:

1. They recognize when they are wrong.
2. They incorporate new information into their existing plans.
3. They execute at a high level. They perform.
4. They recognize when they are right, and they push their winners.
Below, I review each core competency in greater detail:
1. They recognize when they are wrong.
The ability to recognize when one is wrong is very powerful skill because it allows the trader to take small losses when appropriate. The ability to manage risk well allows the trader to experiment at a low cost, gain experience, and adapt to changing market conditions.
2. They incorporate new information into their existing plans.
Great traders incorporate new ..

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