The Mindset of a Successful Trader

If you read the previous lesson, you know that most traders lose. But a small portion survives over many years. What sets them apart?

Interestingly, it is neither a high IQ, nor a degree in finance, nor even large capital. The main difference is mindset.

In this lesson, we will discuss seven key habits shared by surviving traders.

1. Focusing on the Process, Not the Outcome

The amateur thinks: "How much did I make this month?" The experienced trader thinks: "Did I follow my plan?"

It seems strange — but it is not accidental. In the market, you cannot control the outcome. You can only control your own decisions.

If you follow a good plan, the results will align in the right direction long-term.