1.  Wealthy traders PLAN EVERY SINGLE TRADE. “In simple terms [wealthy traders] know exactly what they want to pay, how much money they anticipate making (or losing) and a very clear idea on the probability of the trade working out.”

2.  Wealthy traders STOPPED TRYING TO PICK TOPS AND BOTTOMS years ago.  “Simply put, 95% of the traders out there that make money are buying higher highs and selling lower lows. [Wealthy traders] do the exact opposite of nearly everyone out there because they found out long ago that picking tops and bottoms is a sucker’s bet.”

3.  Wealthy traders are PATIENT WITH WINNERS and RIDICULOUSLY IMPATIENT WITH LOSERS. “Most traders have a great deal of patience with their losers but get nervous about locking in gains and sell them to quickly – the exact opposite of what wealthy traders do.”

4.  Wealthy traders TRADE ONE MARKET. “Focus on trading one market exceptionally well rather than try to trade whatever’s hot – that’s how wealthy traders do it.”

5.  Wealthy traders gauge success on ANYTHING BUT MONEY. “The growing trading account simply becomes a nice result – a side benefit if you will – of making good decisions and reading the market well.”