What all winning traders must have, regardless of timeframe and system are as follows:

Trading System

• They trade a robust system or method that wins more money over time than it loses.
• Their system gives them a reward to risk ratio that is in their favor.
• Their system or method is proven to work with a live trading record over many markets, trades, or has  historical back testing.

Trading with Managed Risk

• They manage the risk of ruin to avoid blowing up their account.
• They risk no more than 1%-2% of total account equity on any one trade.
• They manage risk through proper position size so they do not risk their account and their ability to trade in the future.
• They do not risk more than 6%-12% of their capital at one time, across multiple trades.

The Mind of the Trader

• They have faith in their system or method and continue to trade it, even when they are losing, so they capture the wins when they start again.
• Almost all winning traders have come back from blowing up their accounts or losing a lot of money. These traders persevered while many others quit before they won.
• Most winning traders have learned to separate their trading from their self-worth and ego. They treat trading like a business.

With these three elements incorporated into a good trading plan, you will eventually win big. If you are missing any one of these three elements, the odds are against you.