Here are some of the things that those who last and stay consistent overtime do differently:
- They accept the reality of trading which is that profits may sometimes take time to come , and that losses are inevitable they are part of the process.
- And when they encounter loses, they don’t treat it as the end of the road, they rather see it as a means to improve themselves the more
- They practice proper risk management by making use of sizing and stop-loses and they also dont risk more than they can afford to loose.
- They keep their emotions in check, by not allowing greed or FOMO, forcing them into trading.
- They treat trading llike a business by having a clear plan, and target etc.
Those are salient points. Any would-be trader who takes time to understand them will do well in the industry. It gives credence to that saying, "when one stays long enough in a dark enclave, it begins to feel illuminated." That's how I feel about trading. A lot of people don't stay long enough on it and give it the necessary attention and practice it deserves before calling it quits.
To those who think trading is a shortcut to wealth, I say cheers! You will continue to burn your account until you change that mentality.