Forex trading can lead to successes or failures. Naturally we all want to be successful, but to achieve this we need to work hard as well as possess certain key qualities. Let's face it - not eveyrbody is meant to be a successful trader. And there are ways and means that can help you be a good trader. I would like to discuss some key qualities that can lead you to achieve this, and it would be nice if you could share any others you feel are important too.

1. Objectivity - a good trader needs to be objective. He needs to be able to consider facts and data, and in some cases this is not that easy. To be objective he also needs to be able to control emotions.
2. Risk management - risks are always present in forex trading and hence a trader really needs to be aware of this and be able to control risks. That is not that easy and it may take quite some time to get used to this. Managing risks can really affect your performance as a trader.
3. Money management - as with any other form of business where money is involved a trader needs to be a good money manager.
4. Planning and strategy - a good trader needs to understand the importance of planning and developing a sound strategy.