Info!! 2 Dandy Predictors Of Trading Success

For many years I've been involved inward interview in addition to alternative processes to hire traders at prop firms in addition to hedge funds.  Those years of sense convey been valuable, because I've been able to see, first-hand, who makes it inward the trading basis in addition to who doesn't.

One standout determination comes from all of this:  The 2 best predictors of long-term trading success are:

1)  Originality - Traders who develop their own, unique approach to markets are to a greater extent than probable to succeed that traders that employ generic methods.  My mutual impression when I run across a promising trader is, "Wow...why didn't I intend of that?"  I apace recognize that the trader has achieved an insight that others convey not.  That master copy thinking is to a greater extent than probable to generate distinctive results than run-of-the-mill thinking you lot could listen from whatever of a dozen marketplace set participants.

2)  Flexibility - The worst traders I know are perma-bulls or perma-bears.  They tally markets to their ain thinking, rather than arrange to changing markets.  The best traders operate amongst a variety of anti-confirmation bias:  they actively scan for data that does non tally amongst their views.  That enables them to live flexible in addition to arrange apace to novel marketplace set conditions.    

If I were to house these 2 predictors of success nether 1 umbrella, it would live "real-time creativity."  The successful trader sees in addition to approaches markets inward fresh ways--and continually refreshes those perceptions in addition to methods.  

The recent Forbes post emphasizes that this real-time inventiveness is something that tin live learned.  Indeed, the structured methods referenced inward that postal service tin help us cultivate master copy in addition to flexible thinking.  We can't stand upwardly apart from the herd unless we're able to stand upwardly inward a higher house the herd inward our perception.  Consensus, status-quo thinking volition never generate standout returns.   

As the latest postal service notes, using a trading periodical to practice our capacities for originality in addition to flexibility is a bully means to prepare ourselves to detect the chance inward markets that others are missing.  Two questions are a bully starting signal for such journaling:  1)  What am I seeing inward markets today/this calendar week that others are non seeing? in addition to 2) What am I seeing inward markets today/this calendar week that is dissimilar from what I saw yesterday/last week? 

Further Reading:  The Hard Work of Trading is Achieved Through Play
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