10 Habits of Highly Profitable Traders

10 Habits of Highly Profitable Traders
10 Habits of Highly Profitable Traders
Philip Taylor


  1. Create asymmetry in your trading by using stop losses. Profitable trading only happens by making more money than you lose. Big losses are the main cause of not being profitable. Eliminate big losses by cutting your loss when proven wrong.
  2. Have a great risk/reward ratio on entry. Give yourself the potential to make two or three times more if you are right than you could lose if you are wring. Let a winning trade run until there is a reason to exit.
  3. Trade with the odds on your side. Trade historical patterns and price action that has worked in the past.
  4. Trade a plan and a system using quantifiable signals instead of your own predictions and opinions.
  5. Trade your plan with discipline and perseverance.
  6. Limit your capital at risk on any one trade to eliminate your risk of ruin.
  7. Work so hard when the market is closed that all their is to do when the market is open is take your signals.
  8. Have a system that profits in up and down trends.
  9. Have a system that works in multiple markets.
  10. Trade position sizing that does not cause your emotions or ego to get louder than your trading plan.