Exploring The Habits Of Great Stock Traders
Great stock traders are not made by chance; rather they are the sum of 7 habits that separate them from the vast majority of stock traders who never make any money.
Observing truly great traders shows that if you stick to these habits in daily life, then you have a better chance of success. Not overnight, mind you, but over time.
1. Concentrate on learning, and not just being in it for the money. Starting with smaller amounts as learning capital is both sensible and rewarding. A good example is Warren Buffet.
2. Save a portion of your money regularly. Protecting your capital, no matter how small, will stand you in good stead as the amounts you are willing to lose rise.
3. Listen; it's part of learning.
4. Develop the habit of networking and socializing face to face, so that you are the front of everyone's mind when the next big deal comes along.
5. Follow world events and current affairs; don't just read the financial news and then try to turn it to your advantage. The rest of the newspaper is just as important.
6. Get a mentor. More than that, make a habit of contacting them on a regular basis. All great businesspeople have a mentor, someone who has already been to places you wish to go.
7. Never forget to analyze your tactics and then refine them. If you win big, try to see how it could have been even bigger. When you fail -- and you will -- work out what went wrong; and how to avoid it in the future.
All of this is work, of the fun kind. Develop the skills into habits that are a natural part of your daily life. Success will be the reward for your dedication.
Great Habits of Successful Traders - Hindi Part 1