Here are ten things that many of the top traders I have studied have in common:

  1. They learn to think for themselves and create their own trading signals and systems that match their own personalities and risk tolerance. They do not ask for other’s opinions they follow their own plan.
  2. They don’t care about other’s opinions or feedback, they just execute the trading principles they know will make them profitable over the long term.
  3. Top traders avoid big losses and account blow ups while trading through volatility and downtrends through the right position sizing and discipline.
  4. They are always looking to learn, grow, and become better at trading.
  5. Top traders do not waste time in debating where the market will go next. They simply follow the trend until the end when it bends.
  6. Profitable traders keep their losses small by admitting when they are wrong quickly once proven wrong.
  7. Their positions and opinions match what the market price action is currently doing.
  8. Top traders trade each position with a small size relative to their total available trading capital.
  9. The top traders that are successful over the long term have confidence in themselves and their system.
  10. The top traders never gave up. They won before they quit. If you are on the right path and don’t quit only time separates you from success.

By Steve Burns

After a lifelong fascination with financial markets, Steve began investing in 1993 and trading his accounts in 1995. It was love at first trade. After more than 30 successful years in the markets, Steve now dedicates his time to helping traders improve their psychology and profitability. New Trader U offers an extensive blog resource with more than 4,000 original articles, online courses, and best-selling books covering various topics.