Good traders tend to be open minded. A goal of a good trader is not to make a huge profit ( as that is the goal of amateurs) but to trade well and consistently. Good traders honor their rules and laws of trading, once they do this the money begins to accumulate and a profit will begin. Trying to reach their personal best is better than making money because it stays with them for a long term, while not being consistent vanishes the next day. Traders need to be so focused on trading with rules and laws that winning does not boast your confidence (although it is ok to boast a little) and losing does not make you any less of a better trader. You need to be so focused on trading right that money no longer influences your emotions.
The trouble with the market is that there are many opportunities for trader-suicide. Many traders often involve themselves on a descending streak. A person who drives recklessly usually does not wake up one day and drive according to the laws and destructive traders who do not follow rules usually do not change their views, which in the long-term destroys their account. Traders who have a personal grief about themselves usually try to fulfill their grief into happiness by taking it out on the markets. Usually traders like this do not know the outcome of their investment and end up with a negative in their account.
A successful traders studies the market realistically. He/she knows his abilities to trade and his limits of taking a loss. He/she studies the market and knows how to react to sudden changes. He/she does not cut corners, studies his observations, and makes realistic goals. A trader who is smart cannot afford out of reach numbers. After an amateur loses many times and gets a few margin errors, he starts to look at the market fearfully. Instead of being cocky he resorts to ideas which fall out of place in the market leading him to miss buy point and sell points. These traders act immaturely such as a child is afraid to look in the closet because there could be a ghost. The fantasies we create usually influence our behavior, even if we are not aware of this. Many amateurs create their own fantasies of an easy way to get rich, because of this they fail in trading. A successful trader must get rid of his fantasies and focus on reality.
