Seven habits of highly effective people

...continued from yesterday...

Would you like to become a more effective trader? What are the major things that distinguish highly effective people and others? According to Stephen R. Covey, there’s seven habits that highly effective people have. He describes them in his book The 7 Habits of Highly Effective People

Here’s my understanding of them as applied to trading.

First Habit. Be proactive in matters where you can affect the result and don’t bother where you cannot have any effect. As an independent trader, you don’t have control over the direction and extent of price movement. Therefore, don’t bother stressing out about those things. Instead, spend you energy on controlling what markets you will trade, when to enter, how much to trade, and when to exit.

...cont'd tomorrow...

Copyright 2007 Raymond T. Lee. All rights reserved.
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