At the end of the day, there is no list of characteristics that can ensure your success as a Trader. You may possess a few of the traits discussed, or all of them, or even none. What’s most important is that you understand your strengths and opportunities for personal development and can identify how they will play into your daily interactions. And remember, Rome wasn’t built in a day. The best Traders need to have lasting power to build their own empires. This is what we at Core help you achieve.
Global Market Traders at Core rise with the sun. Logically, this makes sense, since markets open at the start of the day. The best Traders, however, are up at the crack of dawn watching international markets, detecting trends, and getting an idea of how those trades are going to affect their local market.
No matter how much you try, you can’t win them all. We say to all our Traders at Core... losing money is inevitable. It’s going to happen many times over the course of your career. The sooner you can accept this as reality, the better -- and the more time it gives you to focus on creating a winning strategy! The best Traders at Core learn from their losses instead of dwelling on them.
Traders take risks and we understand that taking risks can result in losses. Our traders take measured and monitored risks that help us to lower the volatility of asset portfolios. Monitoring those risks and the results of taking them helps us to improve our performance.
It goes hand-in-hand with being a risk-taker, but there’s a difference between a good Trader and a great Trader, and some of that is due to having a competitive spirit. We at Core build a competitive but a highly supportive environment. Of course, traders are pretty focused on winning and defeating their counterparts. In reality, it’s more about playing to win in the long run by riding the market highs and outlasting the lows.
Even if you have very little experience with trading, it’s fairly obvious that confidence is absolutely essential. A successful Trader can’t spend his or her day second-guessing decisions or conducting too much research. There is definitely such a thing as being too cautious; it can make you miss deadlines and important opportunities. At Core, we encourage Traders to put on a position, albeit smaller size, instead of procrastinating and overthinking.
Sometimes, Traders have to make decisions that are contrary to popular belief and/or challenge traditional conventions. It can be particularly difficult to behave illogically and not everyone has this ability.
Every day will be different, as every market behaves uniquely. Some days will be up, others down, and your approach and decision making process will have to adapt to every environment. Keep a cool head at all times, otherwise, you may not get the type of results you desire. We at Core are here to support all our Traders, in every situation.
Most people don’t want their typical workdays to be stressful. They usually enjoy showing up to the office at the same time each day and be able to anticipate a similar set of challenges each day. Traders are notorious for feeding off of the emotional and physical stress of the global markets. Rather than feeling drained, our Traders at Core might say they thrive and excel in the midst of the action.
A great trader possesses a deep understanding of finance, markets, and economics. But that isn’t learned in a day or in four years of university. It’s learned over the course of a lifetime and every day is a new opportunity to learn and grow.
This probably goes without saying, as you’ve seen footage of brokers working on the trading floor. There’s no time to hesitate, whether you’re working on a computer screen, or out researching a financial markets instrument. Time is of the essence and you’ve got to make tough choices in a very short time period.