Just because some traders do not have some of the above traits, it doesn’t mean they can’t succeed.
Many traders compensate with other strengths, abilities, or advantages, such as having a wide network of supportive fellow traders for advice and support.
Moreover, through experience and training, you can learn to cope with almost any natural disadvantage. For example:
- Learn to self-manage.
Those with a strong risk aversion can learn to ease their fear with stricter risk and money management rules.
They can also raise their trade criteria so that they only accept the trades with the best possible risk: reward ratio.
- Find your trading style.
With the right training and experience, even those not naturally gifted in trading or investing can eventually find a style that fits their talents and personality.
For example, those who find standard spot market trading too complex may well find greater success with the far simpler trading of binary options.
With binary options, you only need to be correct about your entry point and the overall direction of price, no matter how small it is, during the life of your option.
Similarly, those who struggle with very short term trades may well find success with weekly or monthly expirations.
In conclusion, with the right attitude, discipline, hard work, training trading style and enough experience, consistently profitable traders can indeed, be made.