What is Trading?
It is buying or selling securities or commodities. i.e The buying and selling of futures contracts is known as trading. Trading is differentiated from investing by two factors. The first is the time frame involved, as trading is completed often in minutes or hours, and very rarely more than weeks are involved, whereas investing is done for months or years, more of a long-term modest gain motivation. The second factor is the strategy used, which complements the fast timing of trading, as indicators are often used to help let a trader know when to get into or out of a particular position.

The essential characteristics of a successful trader are:
Each trader must learn to deal with uncertainty. Most trading situations are neither black nor white but a shade of gray. Trading is an uncertain art form.
Each trader must develop a personal risk management program. Part of this approach must include a definitive method of removing trading profits from the market. Deployment of these profits are best directed to a lower risk category of investment.
Each trader must develop the ability to focus. A one market approach may be the answer for some traders while a single trading approach to several markets may prove to be successful for other traders.
The successful trader has to
identify a signal or marketing oppurtunity
react decisively
feel good for both profit or loss
demonstrate self confidence
exercise his independence

Most of the traders lose money in their trading because they lack motivation and clear understanding in what they are doing.

The trading styles:
The suicidal trading type is bent on committing financial extinction by jumping in front of moving trains. They insist on selling into run away markets only to see the market moving higher.
The euphoric trading type has no plan of withdrawing profits from the trading account. A hot streak comes along and each successive trade is larger than the first as all profits are back into the market until the loss comes while our euphoric trader is up to his eyeballs in contracts. Not only does he give back all of the profits, often the account is wiped out and possibly more. The traits of a successful trader are Courage and Persistence.

For trading, planning is very important. The trading plan prevents the loss by identifying the risk of a trade before taking the trade. A planned trader understands that markets don't always stop and reverse exactly at projected price and time targets. Nor do they always continue in the right direction even after reversing from a target zone. Losses are part of the cost of doing business and must be managed. A single loss must never become a disaster and when the conditions calling for the original trade continue to exist at the next price and time target. The honest trader has the emotional capital to get back.