Today’s success tip comes from Lyn Summers. 
Having overcome a battle with cancer, Lyn travelled to the US to learn how to trade the stock market. She then co-founded Stock Course and has enjoyed consistent returns of 2-6 per cent month.
What do you think are the essential qualities of a successful share market trader?
Discipline - successful share market traders develop trading plans and have the discipline to stick to them. If they don’t, they lose!
Patience - new traders often make the mistake of over-trading. They think they need to be in the market at all times. That’s not right. Successful share market traders understand that when the market is choppy and they’re not sure what it will do next, the smart thing to do is to sit on the sidelines and wait. Successful traders also let trades come to them. They watch for the right set, and wait until all of their criteria are lined up. They don’t anticipate!
Perseverance - every trader has losses and anyone who tells you otherwise is kidding you. Successful traders learn from their losses, dust themselves down and get back into it. This is why it is a good idea to paper trade in the beginning until you get it right.
Tune back next week for more success tips.
Take care,
Allan Poole
