Found it printed and pasted in front of a trader in our room. Are they relevant? Are you able to follow each and every one of them? Will you read them everyday before the start of trading as a reminder?
Important Characteristic of a Successful traders:
1. Successful traders do not blame. They accept the losses they have, and they don’t dwell on them, or blame other people or conditions. They learn from their mistakes and move on with their trading.
2. Successful traders have a system. They stick to their system of trading religiously.
3. Successful traders have patience. They know that most positions will not be profitable the minute they are opened.
4. Successful traders do not overtrade. They realize that overtrading puts their account at risk, and they know that not every day is a day for trading.
They wait for high probability opportunities.
5. Successful traders realize that nothing is 100% foolproof.
They trust in their indicators, but they are aware of other factors that may influence their trades.
6. Successful traders do not stay in a losing trade. They honor the stop losses that they set, and they do not hold their position in the hopes that the market will eventually “go their way.”
7. Successful traders do not rush into trades. They take their time while selecting trades and they are picky about which trades to jump on. They don’t place orders just for the sake of having a position in the market every second.
8. Successful traders stick to a successful strategy. They have one to three techniques that really work, and they use them over, and over, and over again.
9. Successful traders have the ability to adapt. They adjust their trading methods and decisions to changing market conditions.