One key thing a trader must understand also is the right frame of mind and a trader must not has the mind of a gambler, a gambler wants quick rich money and profit, while an investor have measured amount to be taken in a given time.

A trader must have the mind of an investor, an investor what's money but he puts up structure s to getting this money for instance, while a gambler is putting a little coin to get plenty coins an investor is using a  measured amount of money to get a measured amount of money at a given time.