Some traders use purely technical analysis, some use purely fundamental while a few use a combination of both. Some hold their positions for a day to few days while some hold them for a couple of months. Many have different styles of trading but some traders have a driving desire to become successful and to succeed a few overcome significant obstacles to reach their goal. Rigid risk control is one of the key elements in the trading strategy. Successful traders wait for the right opportunity to get into a trade.
All top traders act independent of the crowd and they all know that losing is a part of the game.
He has a negative outlook on life and expects the worst. They are generally crowd followers and are usually disorganised and impatient. When people are stressed, they also tend to be crowd followers. The behavior of others provides a simple example to follow. Crowd followers don t have to make decision, but crowd following is sure to lose money in the markets.