25 trading lessons :
1. You will gain more confidence from the losses you cut short rather than from your big wins.
2. No matter how good a trade looks, if the environment isn’t favorable it will be hard to make progress.
3. You’ll have great days when you feel like trading is easy and bad days when you wonder if trading is even for you. This is normal, it’s human.
4. Your fear of losing money is ironically causing you to make bad decisions and lose more money.
5. All of my biggest losses came after my biggest wins. Arrogance is a quick way to lose money in the market.
6. One undisciplined trade can undo months of progress.
7. Don't be so critical of your trading mistakes... we all make them. Just learn and move on — quickly.
8. No matter how confident you are when you place a trade, remember that the outcome will always be out of your control.
9. The most important thing in trading is not being right; it's making money.
10. Most trading errors can be minimized by sizing down.
11. Sometimes the best thing to do is nothing at all.
12. The only way to become a good trader is to first be a bad trader.
13. Your trading will improve faster if you focus on one thing at a time.
14. Discipline is more important than intelligence (without it, the market will eventually wipe you out).
15. Nobody knows where the market is going to go next, and you don't need to.
16. An edge in trading is simply having a higher probability of being right than wrong.
17. You need to have a clear head to make the best trading decisions.
18. You don't need to trade every day. In fact, you shouldn't.
19. It's important to study the great traders instead of only studying great strategies.
20. Most traders don't develop the necessary discipline until they have felt the pain. (That's how it worked for me.)
21. The more you understand yourself as a trader, the better your trades will be.
22. If you don't have a trading plan, you're just guessing at what the market will do next and hoping for the best.
23. The less time and energy you spend on things outside of your control, the more successful you will be as a trader.
24. It's important to only trade with money that you can afford to lose.
25. If you can manage your risk, you can recover from any bad day and come back stronger than before.
#copied
