Good Habits of Successful Traders

Here are lessons from Market Wizards, it should pretty much cover it all, hope it helps:

1. Successful trader use trading methods that suit their personality
2. You can't control what the market does, but you can control your reaction to the market
3. To be a winner, you have to be willing to take a loss
4. HOPE should never be in your vocabulary
5. If you are on a losing streak, reduce your position size
6. Don't underestimate the time it takes to succeed as a trader
7. Approach trading as a vocation, not a hobby
8. Have a business / trading plan
9. Be honest about your weakness and DEAL with it
10. Know when to do nothing
11. Being a great trader is a process. It's a race with no finish line.
12. Never ever listen to other opinions. Make your own trading decisions
13. Analyze your past trades. Study what happened to the stocks after you closed the position
14. Don't take on excessive leverage. It only takes one mistake to knock you out of the game
15. Great traders continue to learn and adapt
16. Don't just stand there and let the truck roll over you
17. Being wrong is acceptable, but staying wrong is totally unacceptable
18. Contain your losses
19. Good traders manage the downside; They don't worry about the upside
20. Wall street research reports will tend to be biased
21. Knowing when to get out of a position is as important as when to get in
22. To excel, you have to put in hard work
23. Discipline, Discipline, Discipline!!!

Unfortunately these forums host as many bulls......s as genuine traders and all of them have the correct advise
Be careful of what advise follow
its a jungle out there

9, 10, 4, 5 is my problem. I should be patient (dont be afraid to lose a trend) , accept my mistakes, be calm, and hold on my trading plan and analysis

be impatient with your losses but patient with your profits.

turn it another way

be fearful of your losses and greedy with your profits.

fartist

I find this thread very interesting for new traders or traders that are struggling to succeed and that is why it pushed me to post my humble opinion if it will help someone in the future.
After all these trading years ( I am a scalper but do not follow the traditional definition of a scalper), seeing your picture posted in post no.1 made me think back to the times I was struggling to put everything together.

Most important rule in that list, that almost all ignore (just like trading somewhat - ignoring the small very important things in your chart) is rule #4. If you don't have that one, the rest are useless.
Another very important one, that should be on second place in that list, is rule #10. All traders that want to succeed should first understand that in trading there are losses. How big they are and if they will decide your future is only YOUR call. (Cut the losses short and let the profits run - this is the first thing you should learn if you want to make it as a trader).
Of course, the rest of the rules will follow but these 2 I find that you must have or learn even before starting to build a strategy or do your research.

PS. Also the rules form Market Wizard posted by sv69 are great to follow, but some are hard to grasp by the new traders.

lack of discipline ..thats me last week, lost nearly 48% of my account.
my God..I thought I already got over that issue .


Its really an experience...