Professional Forex Traders

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What it means to be a Professional Forex Trader.

The term professional trader is thrown around quite a bit these days, perhaps too much. But what exactly does it mean to be a professional? As you read through the items below, consider how you compare with each trait.

1: Make expertise your specialty

The very word professional implies that you are an expert. Competence is essential in trading.

  • Become an expert in the skills and tools necessary to do your job.
  • Always perform to the best of your abilities.
  • Keep your knowledge up to date.

Professionals know their trade.

2: Do what you say and say what you can do

Talking the talk is so prevalent and walking the walk so rare in this age of sound bites. You should “engage brain” before speaking — can you really do what you are about to say? If you can’t, the wizard behind the curtain will eventually be revealed and hard-earned trust can be lost.

Professionals deliver on promises made.

3: Communicate effectively

Resist the urge to blame others when communication goes awry. Effective communication is ultimately your responsibility.

Whether verbal or written, professionals communicate clearly, concisely, thoroughly, and accurately.

4: Follow exceptional guiding principles

Appreciate and support those you work with. Practice good manners and proper etiquette. Have high ethical and moral standards. Be honest and fair in all of your dealings with others. Obey the law. These may sound like the attributes of a Boy Scout, but they are basic values that all professionals should follow. Many companies have a document that outlines their operating principles. Have you read yours?

Professionals adhere to high values and principles.

5: Praise your peers not yourself

Respect and acknowledge the talents of your peers. There is nothing more unprofessional and self-serving than telling others how wonderful you are.

Professionals are humble and generous in their praise of others.

6: Share your knowledge

It is easy to find yourself in that comfortable place with “unique” or an edge. If you are a hoarder of information and are of the opinion that all of the nuts you have squirreled away grant you immutable job security, think again. The harsh reality is that nobody is irreplaceable.

Information isn’t a limited resource. Contrary to what some might think, your mind won’t be emptied by giving away kernels of wisdom or experience. Think of knowledge as an ocean of facts and not a stream of data. It is possible to share what you know and still keep one step ahead of the competition — simply apply yourself and learn something new daily.

Professionals help their peers and are respected for doing so.

7: Say thank you

I always tried to find a way to thank others for their help. When their help was above and beyond the call of duty, I would buy them a beer!

The items I value the most in my personnel file from Hughes Aircraft are two AVOs (Avoid Verbal Orders memos) to my manager from frontline employees. The AVOs thanked me for the support I provided that helped them do their job better.

Silly me — what was I thinking? I was sharing a Coke when I should have been sharing my thanks in a printed internal document to the employee’s manager.

Professionals thank others in a meaningful way that most benefits the recipient.

8: Keep a smile on your face and the right attitude in your heart

This has been the hardest item for me to do consistently over my working years. I believed I was lying to myself and the world by smiling when I was miserable or unhappy with an ongoing issue at work.

I now realize it’s not dishonest to be pleasant when you are having one of those lousy days. It is in fact thoughtful to care about how your attitude affects those you interact with. Share your unhappiness with your manager only. “Share the misery” is not the mark of a professional.

Professionals are pleasant even during trying times.

The final word

Working with professionals is a pleasure, and we have been fortunate to work with some truly exemplary ones. There have been a few who liked to be treated as professionals without having to work and act like one.

You don’t have to look any further than the medical profession to see examples of true professionals ,after all they are dealing with lives and not just money. Think back upon those doctors you’ve liked the most and model your professionalism after theirs.