The Characteristics of a Consistent Trader

March 23rd, 2022

Do you know the defining characteristics of a consistent trader? That’s not always an easy question to answer, especially if you aren’t sure what those characteristics are.

Of course, traders each have their own ideas about which combination of personality traits and habits best leads to longevity and success. Some may consider a specific skill set, a unique trading style or a nebulous “gut instinct” as being the key to consistency. In their recent NinjaTrader Ecosystem webinar How to Use Automated Strategies to Make Precise Entries & Exits, Dave Gear and Peter Balla of BuySide Global shared their list of keys to being a consistent trader.

Gear said, because trading is all about probability and prediction, being a consistent trader “requires an in-depth knowledge of technical analysis”. This means that traders should be able to read and interpret charts and patterns quickly, before the market moves on. In addition, traders need to be able to test their trading plans and make adjustments to develop a strong, consistent strategy. Once their strategy is developed, Gear added, a consistent trader needs confidence, the ability to control their emotions, and a strong sense of discipline to follow through on their plan.

If you feel like you don’t yet live up to every item on this list, don’t worry! Gear said that this set of skills can take years to develop. Fortunately, there are several incredible trading tools that exist to help novice and experienced traders alike process data and make decisions more quickly. Many of these tools are available through the NinjaTrader Ecosystem’s Trading Apps & Services page, where you can find hundreds of automated strategies, indicators and more.

In this short clip, Gear summarizes what he considers to be the key characteristics of a successful trader.

If you are interested in hearing more from Gear, be sure to check out Gear’s full webinar with co-presenter Peter Balla. If you enjoyed this clip, be sure to watch these other market-analysis webinars: The Top Three Automated Setups for Day Traders with Steve Wheeler of NaviTrader and How to Keep Decisions Ahead of the Market with Raymond H Burchett of Trust1st.

You can also explore the full library of free webinars from the NinjaTrader Ecosystem. Be sure to head over to the Upcoming Free Webinars page to see a list of upcoming free events and to register for future live events. New events are hosted weekly, so be sure to check back regularly.


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