Friday, December 25, 2009

What I See Among Many of the Best Traders

Here are four qualities I observe among winning traders and portfolio managers. These can be great areas for self-development in the coming year:

1) A creative way of looking at markets, and a way of creatively resolving conflicting market views;

2) The emotional resilience to re-enter a trade idea after being stopped out, when subsequent action confirms the initial view;

3) The courage to bet large when there is high conviction in an idea; the prudence to control risk when that conviction is lacking;

4) An insatiable desire for self-improvement that builds a deep, internal sense of confidence.