7 secrets of a Successful Trader...

1.) Being a loner / corporate misfit
2.) Self-discipline and flexibility
3.) Being humble
...

Trading is an entirely learned skill. Yet not everybody achieves the same level of success in trading. Having passion for the markets is most important. But are there other traits that will give you an edge? I believe there are several.

Detailed article:

Being a loner / corporate misfit

Trading is a lonely endeavor. It's you against the market. Team building, consensus seeking, and conformity will only hold you back. Many novice traders make the mistake of seeking confirmation from several "trusted" sources before taking action, by which time it may be too late. If you need to be told what to do, you may be a good brokerage client but not trader material. You must be able to form your own opinions and act on them quickly.

Self-discipline and flexibility

You must be able to develop a successful system that works for you and stick to it. On the other hand, you should be able to adapt quickly to the constantly evolving market conditions.

Being humble

The market is a level playing field that has a remarkable ability to humble the arrogant. It does not care what you think or whether you have a PhD. The market is always right. The only time you are right is when you are making money. Sticking stubbornly to your opinion or arguing with the market will only compound losses.

Taking personal responsibility

The only right thing to do when you realize you made a mistake is to correct it, learn from it, and move on. Blaming others ("them", the market makers, Jim Cramer) won't reverse your loss.

Controlling your emotions

Emotions are a trader's worst enemy. Every investor has a pain threshold which is usually denominated in dollars. When that threshold is reached, pain becomes unbearable and you start acting irrationally. There are several techniques to control your emotions in the market which are beyond the scope of this article, but suffice it to say that poise, detachment, and discipline are essential.

Being able to make decisions with incomplete information

The market is like a battle field - fraught with deception, smoke screens, sudden shifts in balance, and unexpected blowups. Trying to find out why something is happening before taking action can cost you dearly as the damage might be done by the time the explanation arrives.

Having a thick skin

Being easily offended by others' opinions or taking a stock's move personally will cloud your judgment. What do you care what others think? If they are right - learn from them, if they are wrong - you are the one making money, and that's all that counts in this business