1. Discipline is everything or nothing.
It’s all or nothing. Discipline must be exercised at any time, not just sometimes. Does not mean you can focus 100% of your day trading – it would be madness – but rather that you are 110% committed to become better over time.
2. Losing is welcome to learn from it.
You will lose money – and the sooner you accept this fact, the faster you can move on. Since all losing money, what separates the great traders of the weak is that they learn from losses. Welcome the opportunity to hone their strategy or adjust your plan after trading loss.
3. Eternal Student of the markets.
The market is changing every day and must fully understand how it works. You must learn to evolve and change with it. Sometimes this requires adjustments on your part. At the moment you commit to learning new things, there are always opportunities that will open.
4. Unique commercial personality.
You are individual personality so you trade reflects this. Trade has the ability to reveal the individuality of man, it made trades outside his comfort zone. So it is important to plan your marketing to match your personality.
5. The ability to sift important news in “the flow of news.”
It is extremely important to be able to think and make decisions without being influenced by the media and news .It be honest with yourself, make independent conclusions.
6. Simple but clear planning.
More likely is a trader to be successful if you plan than if no such. What are your goals and how you will reach them? How will you protect yourself from loss and at what point will collect profits? What will you do with your winnings?
7. Without overreaction.
Perhaps most important in this list! A trader needs to know how dangerous it can be if you succumb to emotion and take quick decisions without thinking. The ability to become better at making decisions will come with experience in the trade.
8. Be patient with the markets.
A successful trader must be “quick” in harvest losses and “slow” in profit taking. Novice traders take profits quickly for fear of losing them. Wealth is not built in a day or week -a corpse is consistency in trade and strategies.
9. Be accurate with archives of trade. Keep accurate records of your trading portfolio.
10. Trade to live, not live to trade.