Trading forces us to develop certain disciplines and characters that have enormous advantages in our daily lives, below we’ll be making you aware of a few of them;
- CHARACTER BUILDING : To become a profitable trader , an individual must possess certain traits
– DISCIPLINE :
“ Discipline is the Bridge between Goals and Accomplishment”
Every action in trading can either result in a profit or a loss and so being able to control our actions is a priceless trait for an individual to develop. Lucky for us when we develop traits we don’t simply forget them or only apply them in a certain field, it sips into every aspect of what we do.
– RISK ASSESSMENT :
“The first step in the risk management process is the acknowledgement of risk”
By actively facing losses in the market we develop a tolerance for losing and best of all we develop a system to manage risk . Managing risk allows you to weigh the boons and the banes before making a decision, in order to do this effectively we need to have adequate information, through this we develop the skills to find and analyze information and come out with unemotional conclusions which is a priceless skill on it’s own..