Scale is also important, although is relative to the market you are targeting and supplying, you need to be able to compile tradeable lines of stock to attract prospective clients.
And access to a line of credit to enable purchases is essential. These are tangible, physical attributes that are easy to discern and measure. Ultimately, the most important feature a trader must have is mindset. A trader must be able to look past short fluctuations in the market and decide on a strategy to profit in the longer term. “Trade the margin not the market”. You need to be able to adapt to changing market conditions, while maintaining your key objectives. You need to be able to adapt to your land’s capacity in each season. Someone who has the mindset of buy low and sell high, is a gambler, trading the market fluctuations more like a day trader in the share market, and can be very successful, but hasn’t got the long-term goal and objective of continuous reliable profitability. It’s risky, and traders aren’t risk takers. To be a successful trader, you don’t want to look at one offs, but seek consistent trades that provide long term, reliable profits. These people trade in all markets. Rising and falling. And know their margins, exit strategies, target markets, and the most profitable entry points considering time of year, season, and potential risk. These traders are looking not at the next trade, but, the next 100 trades, and where the margins lie over the year. They consider trading as a business, not a bet. They don’t consider a profitable trade as a win, but a step in a continuous cycle of sell, replace, sell, replace. Knowing what is going to be profitable requires you not to consider profit as a what is left over at the end of the year, but to consider profit as an ongoing expense. Profit should be considered an overhead expense that is used in calculating the entry price of a trade. That way, you know what your profit will be when make the purchase. You control your profit.
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