This game requires a specific skill set.
Traders need to be ‘wired’ in a definite way to be able to make money—they need to be able to:
- React quickly to a large number of variables.
- Act with ruthless decisiveness.
- Commit to a position, and in the next breath, can change their mind if necessary completely.
- Cope with insane pressure.
- Get knocked down and get back up again.
- Stay strong and stay focused for long periods.
Patience, self-belief and self-confidence are essential skills of a trader. Can these traits be learnt? Or do we need to change our personality?
- How can I make more money from my winners?
- How can I lose less money from my losers?
- How can I get more trade ideas?
Tom Dante interview notes.