My own experience was that good record keeping and persistance pays off. Learning from your mistakes is very very important. My "Scales off the eyes" moment came when I refined my methodology to such an extent that it became almost effortless to trade. I have to say it was a scary moment because...
I totally agree with this statement. Having traded for a number of years, the day the scales fell of my eyes as it were, I felt the same way and trading has been very easy, enjoyable and extremely profitable since then
What is so wrong with being a discretionary trader? How would you describe a trader who has so internalised his "system" that he knows when to buy and sell and so on and so forth without resorting to some computer program? A "system" is just afterall an approximation of a human decision making...
One thing that helped in my evolution to be a consistently profitable trader was to develop a system that gave me a signal way before my actual trigger, sometimes upto 1 hour before. I found that when I did that I could sit, calm myself and wait until the pennies dropped and were ripe for pick up.
Yesterday would have been perfect! We were almost there, near panic, fear in the markets, the end of the world...But NO, someone had to come in and buy stocks towards the end. We need pain, extreme pain for us to go up again. Will today be the day?