Trader’s Skills – Strengths, Weaknesses, Opportunities and Threats
As a start you can look at your self and do a simple SWOT Analysis. Ask yourself the question:
What are my Strengths, Weaknesses, Opportunities and Threads (SWOT) as a Trader?
Write them down in four columns, on a piece of paper or maybe draw a funky mind map like the one below.
Self-Analysis will help you discover what you like and what you don’t and this will lead you in a direction of where you should be concentrating your efforts.
Are words like “trade”, “day trade” , “share market”, “Forex”, “trade CFDs”, “trade futures”, “option trading” and “work from home” to be found in your self-analysis – maybe as a ‘hobby’ or ‘like’ – than why not going ahead and pursue your dream?
If you have already got some trading experience in any financial instrument you can easily relate to the self analysis example above and think that your one wouldn’t be too different.
However, if you are a novice to the trading ‘game’ , you may think that you don’t have all the skills and may be a bit discouraged. Don’t be!
The skills to become a successful trader can be learnt.