1.Wealthy traders are patient with winning trades and are enormously impatient with losing trades
2.They realize that making money is more important that being right
3.They look at charts as a picture of where traders are lining up to buy or sell
4.Before they enter any trade they know exactly where they will exit for either a gain or a loss
5.They approach trade number 5 with the same mindset they did on the trade 4 previous losing trades
6.They use "naked" charts and focus on zones
7.They realized a long time ago that being uncomfortable trading is OK
8.The markets are their workplace. They are a participant, not an on-looker.
9.They stopped trying to pick tops and bottoms.
10.They stopped thinking about the market being "cheap" or "expensive"
11.They are willing to change sides if the market tells them to do so
12.They trade aggressively when trading well and modestly when they are not
13.They realize the market will be open again tomorrow
14.They never add to a losing trade... EVER
15.Cash is the goal, but never the measure of success
16.They read about mobs and riots
17.They provide liquidity to the markets while watching price and volume
18.They have a way to gauge fear, greed and speed of the markets: Tick charts 233, 612
19.They practice reading the right side of the chart, not the left
20.Every wealthy trader has an "edge" they can explain to their mothers
21.Their position size is calculated exactly on risk tollerance
22.Profit targets are based on average range or something objective
23.One or two trades a month make their month
24.Confident decision makers in the face of imconplete information
25.A losing trade does not mean they are a loser
26.They buy higher highs and sell lower lows
27.Their business isn't trading, it's finding the right trades
28.They write down or record every trade, price, thoughts, news, attitude
29.Their conviction on an active trade remains unless something major changes
30.A winning trade does not result in taking on extra risk the next trade
31.They trade the reaction, not the news
2.They realize that making money is more important that being right
3.They look at charts as a picture of where traders are lining up to buy or sell
4.Before they enter any trade they know exactly where they will exit for either a gain or a loss
5.They approach trade number 5 with the same mindset they did on the trade 4 previous losing trades
6.They use "naked" charts and focus on zones
7.They realized a long time ago that being uncomfortable trading is OK
8.The markets are their workplace. They are a participant, not an on-looker.
9.They stopped trying to pick tops and bottoms.
10.They stopped thinking about the market being "cheap" or "expensive"
11.They are willing to change sides if the market tells them to do so
12.They trade aggressively when trading well and modestly when they are not
13.They realize the market will be open again tomorrow
14.They never add to a losing trade... EVER
15.Cash is the goal, but never the measure of success
16.They read about mobs and riots
17.They provide liquidity to the markets while watching price and volume
18.They have a way to gauge fear, greed and speed of the markets: Tick charts 233, 612
19.They practice reading the right side of the chart, not the left
20.Every wealthy trader has an "edge" they can explain to their mothers
21.Their position size is calculated exactly on risk tollerance
22.Profit targets are based on average range or something objective
23.One or two trades a month make their month
24.Confident decision makers in the face of imconplete information
25.A losing trade does not mean they are a loser
26.They buy higher highs and sell lower lows
27.Their business isn't trading, it's finding the right trades
28.They write down or record every trade, price, thoughts, news, attitude
29.Their conviction on an active trade remains unless something major changes
30.A winning trade does not result in taking on extra risk the next trade
31.They trade the reaction, not the news