1. Losing traders think that because they reviewed price performance history, and saw patterns or results, trading in real time would be simple . They don’t understand that real time trading involves risk management, discipline, and a developed trading plan and probably never will.
2. Losing traders believe that what they learned in textbooks will make them great traders. They are used to being able to supply the ‘right’ answer for a good grade, but the markets are a moving target, and the right answer changes daily.
3. A Losing trader do not believe on Developing a plan, practicing, and maintaing trading journal.
4. A Losing trader’s will try to predict the market moves instead of trading the present price structure.
5. Losing traders make blanket statements like Market is rigged by Operators. Operators know my SL. I am losing because of market not because of lack of ability of trading skills.
6. Losing traders come into social media trying to be teachers when they should be students. They don’t even know what they don’t know.
7. Losing traders have a recency bias. They think that what works in the current market environment is what will always work.
8. Losing traders develop too much confidence before they have built competence, and that never ends well.
9. Losing traders have made up their mind and cannot be swayed. This is the opposite of successful traders who remain curious, always seeking to learn and grow in all areas of life.
10. A Losing trader has no need to interact with other traders, read books, or learn from more experienced traders. In their mind, they already know everything.