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Trend Trading For Dummies by Barry Burns

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Chapter 26

Ten Habits of Highly Effective Trend Traders

In This Chapter

arrow Looking for ways to continue to learn and improve as a trader

arrow Balancing your trading career and yourself

Trading is a performance-based profession. You’re pitting your wits and skills against the market, which essentially means you’re competing with other traders. Successful trading relies on personal development, self-control, and being constantly adaptable to varying market conditions.

Human beings are creatures of habit, and it’s those habits that create the results you get in your personal life and professional life. This chapter focuses on ten habits that can lead to being a consistently profitable trader.

Being a Perpetual Student

As with any other profession, you must engage in continuing education if you’re to remain relevant in the trading world. Rules and regulations, technology, and who is trading and how are constantly changing, and you must keep up with it all. You must continue to learn. No one knows everything about trading.

Even after all the time I’ve been trading, all the classes I’ve attended, all the books I’ve read, and all the mentors and coaches I’ve hired, I still make it a practice to take one new trading course every year. I don’t learn much from most of them, but I know that if I ...

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