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What you need to become a profitable trader?
It has often been mentioned that airline pilots possess the qualities which they can use to be successful traders.
Being an airline pilot, especially for one of the major scheduled carriers is deemed to be a prestigious and well-paid profession.
It takes more than a smart suit to make the grade as a pilot.
Of course, an applicant needs to be educated to consider for a pilot training.
However, having a university degree and being good with mathematics is the minimum benchmark that allows one to gain acceptance to pilot training school.
What is of greater importance is the psychological profiling that allows an assessor to tick the boxes which confirm that an applicant possesses the right character traits that will enable them to progress?
Therefore, before the first steps are taken, it is essential that the applicant is deemed to have “the right stuff”.
So what is this “right stuff”?
It can be discerned that a pilot needs to be disciplined, work within predefined parameters that fit the present environment and above all to control their emotions.
Much of the pilot’s process can be learnt at flight school.
However, self-discipline and emotional balance are traits that usually develop during one’s upbringing.
So why should the character and personality traits that make a good pilot have anything to do with being a successful trader?
Trading is one of most difficult professions to master.
Navigating the road to trading success can be a long journey that leads to dead ends.
Even if one discovers a trading method that he /she believes in or if they are fortunate enough to be given insights by a trading mentor, there is no guarantee that success will follow.
For one to be successful in trading, one needs a well thought out plan of action which can be called a trading plan.
A trader also needs the discipline to take the trades by that plan.
Above all, a trader needs to control their emotions sufficiently so that the fog of war does not influence them to deviate away from the plan.
To produce that fruitful harvest, one needs to clear the field of rocks and debris and plough and seed the land.
It is the same with trading. One can consider MT4 platform as the field that if cultivated correctly will produce the fruits of a traders labour.
Do you have “the right stuff” to make it in trading? Let’s now plan the trade with ten points that are the foundation of a future trading life.
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