5 Daily Habits Of Successful Traders

These are the 5 Habits of highly effect Traders.  That can help build your trading discipline.  We know that positive habits in the long run,  builds good discipline. Which is key to your  success as a trader. All of that said and done,  how exactly do you enforce that sort of strict  regiment.


5 Daily Habits Of Successful Traders


Well I’m a strong believer that the  way you trade in the stock market is a reflection  of who you are in real life.  I mean, I’m not saying the numbers and prices  on stock charts are not real, but, just like  that lamborghini on a lot of day trading ads,  sometimes its hard connect what you see on  the screen to something tangible in real life.  


So thats why I think it's extremely Important to have good daily habits outside of trading.  I do find that when my life is a mess, my  trading will likely be a mess as well. In  order to trade well, I formulated 5 very strict  daily habits for myself in real life. 

 

So none of these things are directly involved  with trading or the markets, but they definitely  can form a trickle down effect and help form  a very solid foundation in your trading discipline.  Such as not chasing breakouts, not adding  to a loser and not forgetting to hit the like  button .  


First and foremost, I have been told by many  people in my life that I have an extreme eye  for enforcing and follow through with detail.  Which lets be real, it’s just a roundabout  way of saying, “you’re an OCD jerk”. 

 

I mean hey, you can call it OCD or detail  oriented, it doesn’t matter. This is how  I need to live my life and function smoothly.  I just need my screens to line up, calendars  to be extremely detailed divided up into timeframes  of 10 minutes, categorized and color coded,  all my socks to be in pairs. Ok that last  one,I can let it go.  


This is probably a habit that started forming  in my own psyche from my former career as  a VFX designer in the film industry. With  all the hyper realistic rendering of CG animation,  its extremely Important to make sure the tiniest  things such as rust, scratches and all the  textures on objects are well thought out and  designed.  


I'm the kind of person who plans everything  1- 2 weeks before the event and have them  all on my calendars.

 

And I will do whatever  I possibly can to keep them that way.  Unless I have at least 48 hours notice, I’m  not going to move anything on that calendar  to go to Bagholder Mike’s birthday party.  I dont care if theres an open bar, hot girls  or hot guys, I’m not going if that conflicts  with my schedule. 


5 Daily Habits Of Successful Traders


Okay but if there’s free  food, I’ll reconsider it.  Like I’ve often talked to other traders,  being OCD might not be great with your social  life, but it helps so much as a trader. Its  this kind of attention to detail that allows  me to refrain myself from breaking concrete  rules in my own trading playbook. 


Here are some examples of those rules that  I abide by: never short a low float runner  on day one, especially if that stock is easy  to borrow. Never average down and add to a  loser, I always just take the loss and move  on, 90% of the tI’me, I’m gona be happy I did  that..  


And if any of the stocks I'm watching matches  those criteria in the rules, I don't trade  it. A lot of tI’mes, people will say… oh  Shay you missed out on this golden opportunity  to make money. 


5 Daily Habits Of Successful Traders


But my OCD mind will say, that's  fine, unless i’ll get free food, i'm not  trading it. Trading those stocks is a receipt  for a disaster for me. I must follow my own  rules , and wait for set ups that match my  detailed criteria. 

 

Now the next habit that helps with my trading  disciple is, have a regular workout routine,  and stick to it even during quarantine.

 

As  you may have learned from my day in the life  of a day trader video, I regularly workout  and my preferred fitness is pole dancing.  


Well , all the gyms have been closed for two  months now, and I haven’t been able to do  the same form of workout. But, that's no excuse  for not keeping fit. Because you guys know,  I don’t work out to look good. 


I work out  so I can eat. Oh and also so I am also mentally  fit to trade. 

And for me to continue enjoying food deliveries,  I turned to home workouts. I especially enjoy  blogilates on YouTube, and i've been following  almost all the workout plan since last month.  Key word, almost.  


I find that keeping fit physically also strengthens  yourr mind when trading. So you have fast  r response tI’me when trading earnings and  news catalysts. 


And its only with a strong  body, then you can have a strong mental capacity  to recover. 

Yes I still take losses and feel frustrated  or mad of course, but just like the body recovering  from feeling of soreness after an intense  workout session, a trained mind can recover  quickly from those trading losses. And do  not let one day of loss lead to a string of  bigger losers. 

And since we’re on the topic of working  out and staying healthy, I just want you guys  to know about this 100% successful trader  diet. 


Thats right, its true there is no DVD  or secret trading strategy that will make  you lambos all the time, but the true secret  to trading.. Is in this proprietary Humbled  Trader diet, called I eat whatever I want. 

 

I’m a true believer of enjoying food, but in  a balanced way. Yeah there1 or 2 days in a  week where I’ll eat some delicious indomie  and fried spring rolls, that will cause my  face to breakout. 


5 Daily Habits Of Successful Traders


This is the only kind of  breakout I will buy.  But the rest of the week, I’ll eat healthier  home made meals, smoothies and greens to balance  that.

 

Ok  The third habit that has helped me tremendously  as a trader, is embracing and learning from  solitude. 


I know you must be thinking that  oh I must be an extrovert to have a YouTube  channel and talk in front of the camera. Bt  its quite the opposite. 

 

I’m actually very introverted. I’m that person  who goes to parties and barely talks unless  somebody wants to talk stocks. 


I prefer to  talk less, but listen and observe more. I  believe thats the reason we have two eyes,  two ears, and only one mouth. 

I know it seems contradicting because I'm  talking for 15 minutes straight now in front  of the camera. 


The only reason I can appear  outgoing and talkative right now in front  of the camera, is because I spend a lot of  time by myself.  The general consensus in society is that,  oh that person is a loner, he or she must  be weird. Well i'm a loner, and i'm perfectly  happy this way. 

 

It's only because I have spend so much tI’me  by myself, that I have the tI’me and peace  to truly reflect on everything I learned and  observed from the market on a daily basis,  such as how to hit the like button to get  better short locates when trading.  


I'm definitely not saying that you need to  be a loner and shut out everyone else, but  what i'm saying is it’s worth allocating  an hour or even 30 minutes of your day just  to yourself as self reflection at the end  of the day after the market closes.


All those  charts price action upticks downticks and  screen tI’me need tI’me to condense and formulate  in your mind to become useful information  later on. 


The fourth habit of an effective trader is  going to sound sI’mple, but you’d be surprised  how many day trading beginners don’t do  it. It’s simply the act of being resourceful,  and take responsibility for your own success  in trading.  


Yes, that means doing your own due diligence  on that stock before you buy and sell, perhaps  dig up some SEC filings or even just quickly  search it up on Finviz.

 

I want to expand even  further on this topic a little bit more by  saying that…  Most new traders fail, because they expect  the answers and the easy money to be handed  to them. I’m often very surprised by how little  effort some people put into their own success,  especially when their own hard earned is invovled. 


For example, I’ve made tons of very clear  cut tutorial videos on how to set up trade  ideas scanner, how to set up thinkorswI’m for  active day trading, and many others. And I  share those settings for free in the video  description.  But if I can spend all that tI’me to put them  together and share them for free.


 5 Daily Habits Of Successful Traders


I think  it’s pretty sI’mple for any new traders to  google how to input those settings, how to  load those indicators, and other sI’mple questions  like what is a stock. Typing a few words in  the search engine take only a few seconds  and they are not that hard to do.  All I'm saying is, everyone should be resourceful  and take responsibility for their own success. 

 

You want to know what trading platform, what  broker I use, and where to get my free weekend  watchlist? Well it only takes a click of your  mouse to expand the video description to find  the answers.  And for some traders, that's just too much  work.

 

Those are probably the people who just  want signals and easy trade alerts and start  banking with zero effort. And if that's the  kind of effort they want to put into their  own financial success. I respect that.  


As a first generation I’mmigrant, I learned  first hand from my mother how to be resourceful  and learn to take matters into our own hands.  When we first arrived in Canada there were  no Google search or YouTube videos on how  to learn english, how to take the bus, and  how to get legal aid, and how to file personal  taxes in a completely foreign country. 

 

We didn’t sit there and complain. We took  matters into our own hands, learned to use  the library, community centers and I’mproved  our own situation slowly over years. I learned  that I'm the only person responsible for myself,  and don't complain, and stop expecting everything  to be handed to me.  


The fifth habit of an effective trader is,  learn to admit that you might not be right  all the tI’me. Having humility is actually  an extremely Important trait as a trader. 

 

There's been too many tI’mes in the past where  I'm in a trade and I'm thinking, this stock  has to go higher, I am right, it has to go  my way. And my stubbornness, and inability  to admit that i'm wrong and should get out…  will often make small losers become giant  losses. 

 

After being humbled by the market so many  tI’mes… I finally learned that while I can  plan for my trades and trade my plan, i'm  never better than the market. 


The market is  right all the tI’me. It’s is like queen Bee,  you just gotta respect her.  And that's why I’ve always preached that  these videos I make are just my opinions.  


I’m not a guru and my opinions are not 100%  correct. I'm sI’mply sharing my experience  as a trader, who has been wrong a lot. But  the market has taught me to cut my losers  small when I'm wrong and leave my winners  when I'm right. 

So these are my top 5 daily habits outside  of the markets that have greatly I’mproved  my performance in day trading. Being detail  oriented, working out, enjoying solitude,  taking action and responsibility for my own  success, and having humility. 





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