3. Trade first and learn how to trade later. Traders who don’t spend time educating themselves before trading will learn the hard way, and give their trading capital to other traders as tuition.
4. Focusing on ego and the desire to be right, instead of profitability and big losses, will quickly destroy a trader’s account.
5. Traders that fight the trend and disagree with the actual price action will give their trading capital to those that follow the trend.
6. Trade without discipline and risk management and a trader will be destroyed regardless of their trading system or method.
7. If a trader doesn't diversify their life with strong relationships, fun, peace, and health, their trading results become too entangled with their self worth. This can lead to mental and emotional ruin.
The path to profitability leads away from these seven habits. In the end, traders are consistently rewarded for their good habits, and punished financially for their destructive habits. This is our stop list.