Creating good trading habits

Being successful as a trader over the long-term involves being consistent in your approach. This means creating a pattern of good habits that you can repeat.

Losing traders may be using an approach that has a positive expectancy, but they are not getting the results that they should - this can be down to poor execution, poor preparation, or making emotional, irrational decisions, as well as other factors.

Your trading plan - the bridge from dreams to reality

"A plan is a bridge to your dreams. Your job is to make the plan or bridge real, so that your dreams will become real. If all you do is stand on the side of the bank and dream of the other side, your dreams will forever be just dreams." - Robert Kiyosaki

I would guess that if you asked a large sample of traders how many of them actually had a written out trading plan, then probably 90% (if not more) would say no. In truth, all traders require a plan. I could pretty much guarantee that all successful traders have such a plan.