17 Points for Traders

  1. Patient with winners, and impatient with losers
  2. Making money more important than being right
  3. View TA as a picture of where traders are lining up to buy and sell
  4. Before they enter every trade they will know their profit target and/or stop exit
  5. Approach trade no.5 with the same conviction as the previous 4 losing trades
  6. Use naked charts 
  7. Comfortable making decisions with incomplete information
  8. Do not think of markets as expensive or cheap
  9. Aggressive with trade size when doing well and modest when not
  10. Realize the market will be open tomorrow
  11. Judge their trading success on anything but money (more…)

20 Habits of Great Traders

1)      Patient with winners and impatient with losers

2)      Making money is more important than being right

3)      View Tech Analysis as a picture of where traders are lining up to buy and sell

4)      Before they enter every trade they will know profit target or stop exit

5)      Approach trade no.5 with the same conviction as the previous 4 losing trades

6)      Use naked charts

a)      As we mature we begin peeling off indicators

b)      Prices action is key (more…)

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