Dr Brett Steenbarger is a trader, author and high performance trading coach.
He’s worked with many top traders, consulting for hedge funds, investment banks and proprietary trading groups.
Here’s 8 common traits he discovered in the most successful traders:
1. Importance of Innovation
Successful traders understand the role of innovation in trading and how it can lead to success.
2. Uniqueness and Creativity
Successful traders exhibit uniqueness and creativity, playing a different game and finding their own edge.
Distinguished results never come from being part of the herd.
3. The Uncomfortable Path to Growth
Successful traders embrace discomfort and push beyond their comfort zone for personal and professional growth.
4. Focus on Edge, Not Setups
Successful traders shift their focus from finding setups to identifying edges.
They let go of the need to trade.
Traders that need something become desperate.
5. The Skill-Luck Split
Successful traders recognize that trading outcomes are a combination of skill and luck, and focus on placing enough good trades that the odds work out in their favor.
6. Process Orientation
Successful traders prioritize a process-oriented approach, following rules and best practices.
They’re not looking to trade.
They’re looking to be successful.
7. Lifestyle Choices Improve Trading
Successful traders maintain a balanced and fulfilling life outside of trading to enhance creativity and mindset.
8. Focus On Strengths
Successful traders focus on what they do well and innovate by being more of who they actually are.
By studying traders that have achieved success, traders can short-cut their own progress.
Full Interview
Watch my full discussion with Brett:
Click here to check out the BST YouTube channel for more great trading content.
