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8 TRADING HABITS OF SUCCESSFUL TRADERS👩‍💻👨‍💻 for BINANCE:BTCUSD by VasilyTrader

Hey traders,

Consistently profitable traders have a lot of things in common. Watching how they act and following their ideas & thoughts we can spot a lot of commonalities among them.

In this article, I have collected 8 trading habits that a trader should have to become successful.

1️⃣ – Continuous Learning 📚

The markets are infinitely deep in their nature.

Trading & constant monitoring of the market always unveil new, uncharted elements and things.

With 8 years of day trading, I can’t help wondering how many new things I learn each and every day.

With continuous learning you evolve, you become better and it improves your trading performance & results.

2️⃣- Emotional Stability 🙏

The market is a wild beast who always wants to bite us.

And most of the time it manages to do that:

drawdowns, losing streaks…

Those who trade for at least 1 year know how unpredictable and unstable the market is.

A perfectly looking trading setup can easily turn into a big losing trade.

Of course, that is painful, of course with more and more losers, the anxiety will pursue us, the stress will overwhelm us.

Only by remaining stable and calm, you will manage to overcome the negative periods.

Learn to control your emotions, learn to take losses!

3️⃣ – Constant Practice 💪

Pro traders never stop, they always watch the charts, they always monitor the prices, and follow the market.

Trading requires constant TRADING.

Just spending one single week on a vacation without charts, you can not imagine how hard it is to return back.

The trading skills must be constantly maintained.

4️⃣ – Trade Journaling 📝

Pro traders always assess their past performance & results.

They track each and every trading position that they opened.

Both losing trades and winning trades require analysis and observations.

Only by studying the past results the trader can improve his trading performance and evolve. Only by identifying mistakes & peculiar commonalities, the trader learns to lose less than he makes.

5️⃣ – Anticipation of Different Outcomes 👁

Everything can happen in financial markets.

Pro trader always reasons in probabilities.

He knows that 100% chances do not exist.

Accepting the probabilities the trader (even while opening the trade) is always ready for completely different outcomes and accepts each and every move of the market.

6️⃣ – Flexibility & Adaptivity 🕺

The markets are always changing.

If you were trading before COVID crisis, I guess you feel how the reality among us shifted. With fundamental changes in our daily lives, the markets changed as well.

It is hard to say what exactly has altered though, however, we all can feel it.

In order to survive in a constantly changing environment, one should adapt . One should look for ways to be one step ahead.

To beat an evolving market, the traders should constantly polish their trading strategies, drop the things that don’t work anymore, and adopt the new, reliable ones.

That is the only way to stay afloat.

7️⃣ – Selection of Right Markets 📈

The trader always knows what to trade and he always has a reason.

He admits that some financial instruments are appropriate for his trading style while some are completely not.

Pro trader does not wander around aimlessly from one market to another. He has a plan to follow and rules to rely on.

8️⃣ – Realistic Expectations ⭐️

Many newbie traders drop trading just because of wrong expectations.

The desire to get rich quick, to catch 20/1 risk to reward trades without substantial losses is playing a dirty trick with them.

The true trader is not greedy, in contrast, he is humble and the only thing that he wants is simply to win more than he loses and make that amount sufficient enough to have a good living.

Adapting these 8 habits, you will see dramatic improvements in your trading.

And even though most of them require a substantial effort and many years of practicing, trust me, it is worth it and it will help you in your daily life as well.

Would you add some other habits to this list?🤓

Let me know in a comment section.

❤️Please, support this idea with a like and share your feedback in a comment section!❤️

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