Few factors that distinguish profitable & unprofitable traders

What you should do / avoid / and don’t make a habit

1.) Engaging in excessive trading : Ability to control yourself from Ramdomly selecting trades, there’s a saying quite “ less Is more “ to select trades carefully and only trade the best trends and entries, which gives you an advantage over institutions. You’ll always profit more from less trading because pickiness gives traders an advantage Edge.

2.) Counter trading: Traders who are not profitable have a tendency to be trend fighters, constantly attempting to call tops and bottoms. They might be correct in the end, but by then their account will probably be too small to benefit from the reversal bcas they’ve wasted a lot trying to catch the exact tops or bottom.

Making money involves following the current trend rather than swimming against it.

3.) Unprofitable traders believe that winning is all about being correct. Successful traders understand that the key to profitability is being right for as long as possible while quickly admitting when you are wrong.

4.) Been wanting to be right : It is costly to value being right over making money. A trader who does not want to take losses will not want to modify his position because it represents personal failure. A profitable trader is not afraid to get on the right side of the market in order to start making money.