The Top Ten Skills of Profitable Traders

The Top Ten Skills of Profitable Traders

1. They Develop robust systems using principles and patterns that work and are based on historical back testing.

2. They Write a trading plan that fits their personality and  results in profitability.

3. They have the discipline and self control to follow their trading plan.

4. They are always trading a position size that limits their losses to a manageable level and eliminates the risk of their ruin.

5. They are also trading a position size that lowers their emotions to a level where they can manage them.

6. The best traders are reactors to price action in the present moment not predictors of the future.

7. Profitable traders have faith in themselves and believe that they really are great traders.

8. Many profitable traders have an almost religious zeal for their particular methodology and they know that it works.

9. Almost all profitable traders have learned valuable lessons on what works and what does not  through the experience of trading and losing real money.

10. All profitable traders posses the perseverance. All profitable traders are simply new traders that never gave up until they figured it out.