WHAT MAKES AN ELITE TRADER STAND OUT?
There are various types of trading jobs in the financial market: sell-side trading jobs, buy-side trading jobs, and hedge fund jobs. But only a few of them are extremely successful - the elite traders. What makes these elite traders the best of the best? What makes them stand out in the difficult and competitive market?
Elite traders are competitive. Of course, who wants to lose? No one. Not even elite traders. They always find ways to win and improve their trading should they lose. These are the ones who compete to win by practicing constantly until they get the lessons behind each trade. Elite traders also understand the economic rationale behind the market and the market behavior.
Elite traders due their diligence. It does not necessarily refer to obtaining the highest degree to become an elite trader, for at least most of them. These traders are knowledgeable about the market and devote time in learning the basics and studying the market including several scenarios and various trends. Elite traders do not buy the "how to get rich quick trading concept", but rather, they are patient and diligent when it comes to understanding the nitty-gritty of the market. Not to mention there is no easy way or shortcut in whatever we want to learn.
Elite traders are physically and mentally relaxed. The elite traders have the exceptional ability to remain calm and focused while other traders are hot-headed and edgy in the heat of the competition. Even in the most volatile situations, they can stay level headed. They never let their emotions rule their trading actions.
Elite traders are highly energized. Like professional athletes, elite traders are always ready for action. They embrace challenges and overcome those. But if they find themselves in the middle of a dreadful trade outcome or are too afraid to look at the charts, these traders will take a break. As what renowned trader Jesse Livermore said, "Every once in a while you must go to cash, take a break, take a vacation. Don’t try to play the market all the time. It can’t be done, it is too tough on the emotions."
Elite traders do not assume and are flexible. Budding traders stake a claim on the market. Elite traders don’t. It is either they go with the flow or leave the market if it does not suit them. They love to be challenged and accept losses for their betterment. They learn from and understand mistakes and will do better the next time. And they always go out of their comfort zones to bring the best of their trading.
Elite traders live to trade. Yes, their job is to trade but they put passion on it. They love trading. Elite traders always think they are born to trade. They constantly think about their next technique, the market, their next trade, and even the downside of trading. In other words, trading is their life.
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