What are the habits of a successful trader?

Have recently come across the book The 7 Habits of Highly Effective People written by Stephen R. Covey which talks about the habits/methods that help can help one achieve his/her goals in life.

Similarly, we all very well know that to be a long-term gun in the market and have consistent growth, there have to be certain habits that one needs to learn, practice and follow. However, they may slightly differ for a trader and an investor, more or less it can still be the same.

Would love to know what are your thoughts/views on this, and do you have a set of habits that you follow?

What trading behavior that one needs to learn and adapt as a habit to be successful? Anything apart from the below as well will be nothing but wisdom.

  • Do not overtrade
  • Protect your capital
  • Focus to cut down on losses than to be profitable
  • Do not challenge the trend
  • Stick to your plan

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Have a plan, stick to the plan.

If one develops all the habits that you listed, what can stop him/her to be a disciplined trader? BTW, i always believe in not over-trading. Trade, accept, digest and move on.

Ls : few, small.

Ws : more, big.

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This is a great video on this topic: