1. Distraction and concentration

Amateur traders: Watch Youtube videos, online on Facebook, chat on Skype or watch TV while trading. They easily lose focus and do a lot of things when there is no setup insight or the market is moving slowly. As a result, they easily miss out on trades, make mistakes when calculating positions and when executing trades.

Professional Traders: When pro traders trade, they are 100% focused and do nothing but look at their charts. They can open a website to follow news releases or watch news headlines on a TV channel (in mute!). They know the importance of being 100% focused. They know when nothing to do or no setup comes in, they turn off their platforms, work with their trading skills or simply take a break to re-energize the F5.

2. Wasting time in front of the screen

Amateur traders: Prospective traders tend to watch hourly charts and randomly go through time frames to trade. The notion that screen-time will help traders trade better is still revered by amateurs. However, glued to the screen won't do you any good if you don't know what you're looking for.

Professional Trader: Professional trader will have a blueprint and exactly what he is looking for and when he will trade. He did not go through the time frames but patiently waited until the transaction came to him. He doesn't waste his time sitting in front of a chart all day when he has nothing to do. On the contrary, at times like that, professional Traders will go back to their trading logs and review past performance/failures to find ways to become better.

3. Too confident after the winning series

Amateur Trader: The amateur trader believes that after a few winning trades in a row, he has acquired superior skills, or his trading strategy suddenly turns into a money-making and unbeaten machine. The problem is, after a few winning trades, amateurs will become too reckless and either trade too big or violate their trading rules, because they "can get a sense" of What will happen next.

It is not uncommon for traders to lose all their profits after 4 or 5 winning trades in one trade. Have you also made the same mistake?

Professional Trader: A professional trader knows that he does not suddenly become a super Trader and cannot predict what will happen next. A series of consecutive wins is normal and will happen over and over; it's just how trading works. A professional Trader ALWAYS follows his plans, rules of capital, and risk management, and NEVER let a losing trade wipe out a significant amount of his capital.

4. Loss of confidence after a series of losing orders

Amateur traders: When they lose money, amateurs often lose confidence in their trading skills and strategies. They tend to change their trading strategy when they fall on a losing streak or break their trading rules because they want to compensate for immediate losses.

Loss chains are dangerous for amateurs, as they often lead to even greater losses when traders try to make up for the lost money.

Professional Traders: For professional traders, it doesn't matter whether you win or lose. They are inevitable and will happen again and again. A professional trader knows that in the long run, his trading strategy will make him money, no matter what. Therefore, they always abide by their rules and never lose their minds.

5. Put heavily on the outcome of a trade

Amateur Trader: It is hard to accept that your trading idea is wrong and you will lose money. Especially novice and inexperienced traders, when they see the price is about to reach their stop loss, they do one of the following:
  • Move the stop loss away to delay losses;
  • Shift orders to get out of your losses faster when prices reverse;
  • Completely cancel the stop loss because after all, the price will turn around.
All of these strategies will only lead to huge losses and margin calls. The trader who falls into one of the above three situations is unlikely to become a Professional Trader.

Professional Traders: They trade according to the following 2 principles:
  • A trade is just a trade, and the result of a single trade is not a problem;
  • The stop loss is the price at which you fully accept that your trading idea is wrong and where you WANT to exit the market.
The professional trader knows that the outcome of a trade is completely unrelated to his trading career. It doesn't matter whether a single trade is a win or a loss, as there will be 400, 500, or 800 other trades for him to make money.

A professional Trader also accepts that the stop loss is where your trade went wrong and he will happily exit the trade, as it will not make him any money.

6. Do you need to make money fast?

Amateur Trader: What is your trading goal? Do you believe that trading is a way to make a lot of money in a short amount of time? Research shows that traders who believe they can get rich quickly by trading are the ones who lose the most money.

Professional Traders: For professional traders, trading is a regular job. They don't trade for excitement or for wanting to make money with a few lucky deals. Trading is not an easy job and it requires time, hard work, and hard work before you can make any money. After all, becoming a trader is as hard as any other job.

Conclusion: "Fake it until you make it"

To become a professional trader act like them!

Acting like a professional trader doesn't require a lot of capital or expensive equipment. You can trade like a pro trader IMMEDIATELY. Analyze your trading behavior and then see how you can make the adjustments to take your trading to the next level.