How to become successful in business


 Discipline

Discipline is one of the main features a trader needs; The market offers endless opportunities for trade. As an individual can trade in many different products every second of the day, but very few of those seconds provide great and successful commercial opportunities; Whereas, the successful trader must take advantage of the opportunities and remain vigilant to exploit them, and then he must immediately discipline by drawing a clear plan to follow it without hesitation away from any distractions. [1]


Adaptability

Successful traders implement their strategies in all market conditions, and they know when they should not use their strategies, and this requires mental flexibility from them; Where the trader must be able to look at the price movement from each day, and determine the best way to implement or not implement his strategies based on the surrounding conditions. [1]


Understand the market

The trader needs to understand the market, in order to know how the market works from simple details to complex details, such as holidays, the impact of various events on trade, side requirements, and tradable and permitted products. [2]


Understand the stock

Securities differ from one trade to another, such as stocks, futures, options, ETFs, and mutual funds; Whereas, without a clear understanding of security characteristics and trade requirements, this may lead to the failure of the trader; For example, traders should know the margin requirements for futures contracts, options available, and commodities. As all of them greatly affect the capital that is traded, as well as the commercial plan. [2]


Start a small business

It is preferable for an individual to start a small business or a small business and then expand, even if he has a large amount of money and sufficient experience; Since the markets and commercial opportunities will remain forever, if the money is lost, it will be difficult to regroup. [2]


Growth and keep up with changes

You must keep abreast of changes to the tools and techniques used in continuous selling, whether the changes are internal or external, in addition to that, we must not stop growing, learning, working to develop skills, and communicating with new people to maintain the expansion in selling. [3]


Credibility

The individual must be trustworthy, and not sell products that spoil quickly, or those that are below the expectations of customers, and a positive character must be formed around them, so that customers return to them again. [3]


References

^ AP Cory Mitchell (27-12-2016), "6 Traits You Need to Develop as a Day Trader", www.thebalance.com, Retrieved 16-11-2017. Edited.

^ APT Shobhit Seth (14-5-2015), "10 Steps To Becoming A Day Trader", www.investopedia.com, Retrieved 16-11-2017. Edited.

^ AP Wendy Connick (26-10-2017), “How to Sell Any Product”, www.thebalance.com, Retrieved 16-11-2017. Edited.

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