The Way To Acquire Trading Skills

If you ask trading experts, they can depict features of the ideal trader as follows: intuitive, but possessing logical and objective way of thinking; spontaneous, but disciplined at the same time; self-confident and always ready to accept criticism. Probably, some people are born traders if they possess these qualities by nature.

Do you believe that traders are born possessing these skills? Or do you consider that the most people may learn how to trade accurately, if spent enough time and efforts? Either born traders exist or not, your considerations on that issue may vary depending on how you approach to studying of trading and how much you are tolerant to trading defeats.

Psychologist Carol Dweck has carried out some researches showing that our assumptions about certain ability, for example, concerning trading skills, highly influence our interpretation of events and reaction to them. Some people consider abilities as a firm reality whereas others are convinced that abilities can be developed. The person who believes that children are born with trading abilities joins the first group. Such belief involves essential consequences. If someone is convinced that he has inherited trading abilities, he definitely aims at high results. This phenomenon takes place subconsciously, at the back of one's mind. People who believe that they are naturally inclined for trading, try to get benefit out of their talent. Such way of thinking is fruitful bringing desired results, especially when each next financial operation brings more profit (a common situation for the bullish market of the 90-ths).

Expectations are confirmed until traders start making losses. Many traders described the way they had treated trading while earning high profits in times of the bullish market. They thought they were unable to commit a mistake aspiring that they had inherited these skills. But unfortunately the market conditions have changed failing to provide traders with constant gains. When it happened, results of trading did not match expectations and the myth of born trader got dispelled. People started thinking something like: “It looks like I possess no particular talent, I`d rather stop trading.”

Taking into account these considerations, it is advised to treat these skills as something that may be acquired and learnt. In other words it is better to consider that trading skills are not inborn. When we consider trade as a discipline which can be trained through practice and efforts, failures look like an objective feedback, but not like a level of the natural ability to trade. Such people do not care about the necessity of extremely high productivity, they are concentrated on the process of developing their skills. In spite of all difficulties they go on advancing. They believe that finally they will master trading techniques to a high level by means of concentrating on the process of studying trading and accumulating experience. However, Forex education is allways needed.

Whether born traders exist or not is an arguable issue. However, it is recommended to think that if you work hard accepting and taking into account your mistakes you will get better results. Believing that you are capable to master trading through practice and experience you will show high degree of persistence even when you face defeats. And in the end you will elaborate your skills of profitable trading.