Recent discussions among trading experts emphasize the critical role of psychology, discipline, and risk management in achieving long-term success in financial markets. Key traits identified for effective traders include patience, emotional discipline, determination, and the ability to maintain focus and control over one’s behavior rather than market outcomes. Experts highlight that trading success is predominantly driven by mindset, with approximately 80% attributed to psychology and 20% to strategy. Consistency, adherence to a well-tested trading plan, and managing risk are essential components, while avoiding overtrading and emotional reactions to profits or losses are advised. Experienced traders stress the importance of viewing trading as a process of continual learning and resilience, where losses serve as lessons and discipline leads to compounding gains. Additionally, the ability to adapt to unexpected market movements and maintain confidence is considered a vital edge. Some experts also recommend a long-term investment approach focused on acquiring high-quality assets at low prices, rather than active trading. Overall, the consensus is that mastering oneself and maintaining a steady mental state are more crucial than market predictions, with risk management ultimately determining trading success.