Volatility is the measure of how much a stock, commodity or currency moves up and down from its original price. It's a major factor in trading decisions as it shapes expectations and helps traders decide which direction to take their investments. Traders need a degree of emotional stability to stay focused on their goals. They also need to learn how to temper their bets to withstand losses. Lastly, they need to cultivate a strong sense of patience to let the right opportunities arise.

Emotionally stable traders are able to stay focused on their goals and make sound decisions based on past experience. They don't get swept away by the market's volatility and tend to make better trades after learning from mistakes. However, they also don't take any risks they can easily avoid. This is an important mental attitude because taking extreme risks creates an unstable mindset that makes it difficult to focus and make decisions. Essentially, traders need to be able to maintain a normal level of functionality while still managing their emotions when necessary.

The ability to handle losses is another important trait for traders. Emotionally stable traders learn from misfortunes and avoid repeating the same mistakes again and again. They don't give up easily when their investments take a beating- instead, they learn from their mistakes and prepare for the next opportunity. This attitude is vital for successful trading as it teaches you when to keep pushing forward and when to walk away from a losing trade.

The final trait necessary for good trading is patience. Traders who lack a strong sense of patience waste valuable time chasing after false hope or waiting for their investments to bounce back after a loss. Emotionally stable traders have learned to be patient with themselves and know when an investment will recover enough for them to get back in the game. They also know how long it will take and have learned how they can best capitalize on pending recoveries once they've decided when an investment is 'fresh' enough for them to recover their losses.

A Trader must possess the proper mental attitude, learned skills, and healthy sense of patience in order to succeed in the financial world. They must have self-control and can only keep that control if they are emotionally stable enough not to get swept away by the market's movements. Emotionally stable traders make better decisions because they don't let emotions cloud their judgment; instead, they learn from their mistakes and wait for the right time to recover from their losses before taking more risks.