Winning traders take responsibility for all their trades win or lose.
Losing traders play the victim of algos, the RBI, and blame the markets for their losses.
Winners have a trading plan
Losing Traders have emotions, ego, and blame.
Winners find a way to be profitable.Losing Traders find an excuse why they are not.
Winning traders brighten social media by joining it.
Losing Traders brighten social media by leaving it.
Winning traders study at least five times as much as they trade.Losing Traders trade with little or no study of the markets.
Winners love to trade.Losing Traders just care about whether their last trade was a winner or loser.
Winners think in probabilities and possibilities.
Losing Trader sput way too much importance on just any one trade.
Winners are focused on how they can make money in the markets.Losing Traders want to prove they are right.
Winning traders create lessons and learn from every trade.Losing Traders create negative meanings and build emotional drama from every losing trade and build false egos and arrogance from every winning trade.
No matter how good a setup looks to be DON’T overtrade on any one setup. That is the lesson from my recent losses.
Very informative.
Trades can be classified into Good Trade, Bad Trade, Profitable Trade and Loss Making Trade. Good Trade need not be always a profitable and a bad trade need not be always a loss making. As long as the trader follows his research and knowledge based strategy and its rules religiously. every trade can be considered as a good trade.