1) Understand the true realities of the markets. 2) Be responsible for your own trading destiny. 3) Trade only with proven methods. 4) Trade in correct proportion to your capital. 5) Manage risk. 6) Stay long-term oriented. 7) Keep trading in correct perspective and as part of a balanced life. The common theme is self-control. As I’ve often said, if you can master yourself, you can master the markets.
Archives of “seven habits” tag
rssSeven habits of successful traders
1) Understand the true realities of the markets. 2) Be responsible for your own trading destiny. 3) Trade only with proven methods. 4) Trade in correct proportion to your capital. 5) Manage risk. 6) Stay long-term oriented. 7) Keep trading in correct perspective and as part of a balanced life. The common theme is self-control. As I’ve often said, if you can master yourself, you can master the markets
Seven Habits of Ineffective Traders
- When people won’t do their own homework.
- When people can’t explain their reasoning for a trade.
- When people make things more complicated than they need to be.
- When people enter a trade for a good reason, then lose their nerve and exit too soon.
- When people hesitate, or follow others, and enter a trade too late.
- When people will not contemplate the real reasons for their failures.
- A defeatist attitude, especially in me.