Successful Traders
- They have a clear trading goal and style.
- They trade with a planned strategy.
- They know that loosing is a part of making money.
- They wait for an opportunity to come.
- They maintain trading journal books and do daily analysis on past trades.
- They learn from their failures and mistakes.
- They trade without any emotions attach to it.
- They trade with a system, not with a routine.
- They Enter hard in a trade so that they can Exit easy from that trade.
- 90% of time they just watch market,only 10% of the time they trade.
- They know how to manage money.
- They use both technical and fundamental analysis while trading.
- They spend lots of their time in studying charts.
- They always use Stop loss in the system not in their minds.
Unsuccessful Traders
- They do not have any fixed trading goal.
- They trade without any strategy.
- They depends on LUCK factor only.
- They think if they wait they will miss opportunity.
- They don't do any kind of analysis about what they have done in their past trades.
- They do same mistakes again and again.
- They become emotional specially while loosing some money.
- They trade with a routine.
- They Enter easy which cause hard to Exit from the trade.
- They only watch 10% and trade 90%.
- They don't have any money management techniques.
- They just rely on news channels.
- They spend more and more time in taking lots of trades to average their money.
- They only have stop losses in their mind which they never implement because of greed and fear.
