1) The Capacity to Take Risks in a Responsible Manner Successful young traders are neither rash nor cowardly when it comes to taking risks.
They are not hesitant to pursue opportunities in marketplaces with full force when they see a window of opportunity;
2) Capacity for Rule Governance – Successful young traders have the self-control necessary to obey rules even when they are in the heat of battle. These rules include rules of position sizing and risk management.
3) Capacity for Sustained Effort – Successful young traders may be distinguished by the productive time they spend on trading outside of market hours, including research, preparation, and work on themselves;
4) The ability to maintain composure in the face of adversity – Even the most successful young traders can suffer financial setbacks and a variety of difficulties early on in their careers.
In the face of setbacks and challenges, those who are most likely to achieve their goals will maintain a high level of self-assurance and remain motivated.
5) The Capacity for Sound Reasoning – Successful young traders demonstrate an ability to make sense of markets by synthesising data and formulating market and trading views. This capacity is essential for success in the trading industry.
They are patient in the process of gathering information and do not hastily draw conclusions on the basis of shallow reasoning or insufficient evidence.