The 20-year-old scored his second goal in a week at the Blues beat Manchester City 5-1 in the FA Cup, following on from his strike against Newcastle the previous weekend.
The Burkina Faso international, though, believes he has learnt a lot from Costa and the other Blues players on the training ground.
Traore said: “Diego is a fantastic man. He's a very good player. I learn from him. He's like the other players. They are good players. I learn from training with them. I feel good to train with him.
“I learn from football. Training with him is how I learn. I speak with everyone in the squad. All the senior players speak to the younger players to explain how you you do this or that.”
Traore is the leading light in Chelsea's academy at the moment but he is not taking anything for granted at this stage in his career.
“I have to stay focused like I always do. I have to work harder in training. I have to keep fighting and wait for the opportunities,” he added.
“I think season we have shown that we have young players who can do good things. The Chelsea academy has a lot of good players.
“Today we didn't start with a young squad. It doesn't matter. We have to keep focused, keep working and our time will come.”
The Blues signed Alexandre Pato in January who, when fit, could drop Traore down the pecking order but the 20-year-old is confident in his own ability.
He explained: “I don't have to worry about any player. I'm a player so when a new player comes, we have to welcome him and work together, play together as a team and win together.
“I am confident in my own ability. I have to fight, work hard for myself and try to help the team.”
Traore admitted his goal against Manchester City, whose side boasted nine teenagers, had an element of fortune about it but the 20-year-old did not mind at all.
He said: “I tried to put the ball in the back of the net. I was lucky with the goal but I tried to put it in there.
“It doesn't matter how. In the end it was a goal so I was happy. I didn't mean to do it like that but I'm happy with how it happened.”