What are some great trading habits used by successful traders that can make you rich?

A trader is someone whom as per my Believe, is in the business forecasting next price move, it's percentage, it's direction and it's speed by which his forecast comes true.

If a trader sets small time intervals, he becomes a short term or intraday trader.

Someone who sits on his position until his long term price goal is not achieved will be obviously, a long term positional trader.

A good trader is as good as his/her habit. It's definitely not just one habit , it's a combination of the following

• Right stop loss.
• Right entry.
• Ample amount of patience.
• Right amount of lot size.
• Respecting the number of attempts left , before capital becomes zero .

Lets see a sample trade history from a great trader.

Just 4 winners out of 28 attempts ! Worst trader.

Turns out he made average 50% returns in 4 attempts while lost no more than 2% on average rest of losers. This ends up as a very very high return giving strategy.

There were no more than 4 attempts in a month.~ do not over Trade

He saw his first winner after 7 months of wait. ~ patience.

When we say stick to the habit, it actually means, stick to the habit irrespective of prolonged failures. People tweak their habits just so as to overcome the streak of losers. That's deviating from habit/strategy. Isn't it so?

Since 23 June, the trader is sticking to his forecast for down direction.

Rules are rules

He starts shorting since price 2100… he fails multiple attempts. Yet he is respecting his own stoploss and exiting his position as per stoploss.

A sell entry in November 6th , at 1961 is in profit on 8 December at price of 1873. Almost 2 month of waiting in profit, good number of lots.

Habit of an average trader is to book profits. An just above average trader will adhere to the the signal generated as per his entry algorithm. He adds more shorts on 8 December. Thus bringing his average entry price down. ~ double down without fear.

In January adds on more sell .

In February another additional sell . Number of lots add up to a HUGE qty.

A flash crash in February and his forecast comes true. Price is at 1438 when he exits all his winning shorts . The best trafer makes an Exit at a humongous profit !

Normal Trader VS Sage Level Trader

• 90% of traders exit when they are in profit. Sage won't . He stays put with his conviction.
• Normal guy extends his stoploss due to emotional and behavioral interference. Sage trader is strict to the dot .
• Normal guys scatters around for multiple assets. A sage picks a asset. Gets in-and-out details of its fundamentals. Learns from books , listens to experts , digs more know how and then, determines the trade. He sticks with what he knows best.
• Majority of traders Cannot wait to enter market. Profit making Won't execute more than 4 Trades a month. Brokers hate such a client.
• Normal 90% traders Is scared to average up a winning position by adding more positions. For profit making trader, it's a numbers game. It's not money. His mind is clear.

Conclusion

There is a popular saying. Every trader is talented. He could have made money by trading against himself !

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