5 Habits of Consistently Profitable Traders + Weekly Outlook for Nas100, US30, XAUUSD, and USDCAD

1. Consistent traders realized that making money is more important than being right. No matter how sure you are about your trading decision. The market can do the exact opposite longer than you can be able to pay. It's so important that you understand that making money is the goal. You cannot express your will on to the market. It doesn't work that way. It will slap you in the face every single time. You need to be able to change sides. If you have your bias one way, but the market is telling you that you are wrong, that's okay! You have to switch sides, and do what the market is telling you to do. You cannot tell the market what to do. It is the exact opposite. The market should tell you what you should do!

2. Consistent traders realize that. They know that making money is more important than being right. They are willing to change sides if the market tells them to do so.
They don't sit in front of their computers in the morning, fire them up, and say I think the market is going to do XYZ today. You know what they do? They wait and see what the market is going to do and then they trade that. Don't try to tell the market what to do because it will always slap you in the face. Change sides. We all have a feeling about what we think is gonna happen, but if you see the market doing the opposite of it, then trade the opposite of it. Don't try to inflict your will on the market, it doesn't work like that!

3. Consistent Traders use naked charts and focus on zones.
Most of the traders I see that are wealthy they don't use any Indicators. Maybe they've got a couple of moving averages on there, maybe if they're purely a Fibonacci or a purely an Elliott Wave trader, they'll use just that. but rarely will they flip-flop and throw more stuff on the charts. if you're waiting for nine things to line up and say it's time to trade you'll get maybe one trade every 10 years. That's a long time to sit in front of your computer, and even then, there's a chance that it may not work out. So, get used to watching price and price only. Get a feel for what you're trading. There are some traders out there, that can trade something different every single day. My recommendation is, to find one thing that you trade well, just trade it with just price. Get used to how that market reacts, and maybe use one or two things you feel comfortable with because the more stuff you have on the chart, the more confusing it's gonna get, and it doesn't help you, and it doesn't make you a better trader.

4. You should always know exactly where you will exit for either a gain or a loss before you take the trade.
You've got to know those points beforehand, and have an objective reason why you're choosing those things, so never get into a trade if you don't know where you getting out for a loss or a profit. Both of those numbers are very important. A good trader knows them beforehand.

5. Consistent traders are patient with winning trades and enormously impatient with losing trades. Most traders that are out there get into a winning trade and what happens? They get extremely anxious. They want to get out of the winning trade because what's gonna happen if it goes into a loser? They start to get very impatient and they got that finger on the sell button because they don't want to see their winner turn into a loser. On the opposite side, if they've got a trade that is going against them, a lot of traders will say you know what? I'm gonna wait just a little bit longer to see if this thing turns around. Does that sound familiar to you? You probably have done that yourself. I know I used to do that a lot. Wealthy traders turn that just completely on its head. They do the exact opposite. They are patience with the winning trades, and give it time to work, and they are ridiculously impatient with losing trades. That means that they are out immediately if it goes against them. Even with a hit rate of just 30%, you can make a lot of money, if you know how to cut losses quick, and let winners run. I think there's a lot of people out there that think, that consistent traders just have great trades every single time, and it's absolutely not true. They've got a lot of losers. In fact, they lose more than they win most of the time, but they are so crazy about cutting those losses, that they are able to take kind of the randomness out of it and use it as the edge they have, to make their winners do the work for them. Small losses, small wins, and big wins. This is what you should focus on.
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