Learn to wait

[dealbr]

couldn't agree more. Running on the rope does not help win the game. Patience with logical analysis do.

 

[padutrader]

You are a complete retard is what you are.

tell me something my wife does not know

 

[padutrader]

You are a complete retard is what you are.

tell me something my wife does not know

 

[trader1974]

most retail traders trade random noise... so low/high probability is a moot point.

it still boils down to - people don't have an edge.

Operating against the trend, there is probably no advantage.

 

[trader1974]

You don't need "much advantage" Just get 2-3 points a day.

 

[ET180]

Trading is not for impatient people, trading is for people who know how to wait. A good trader never operates on impulse or gambling addiction. The good trader only operates when he has the maximum chance of things going well.

Probably the best overall trading advice I have seen anywhere on the internet.

 

[trader1974]

Thank you, today I woke up inspired

 

[trader1974]

Other:
Be ambitious when everyone is afraid, be fearful when everyone is euphoric.
Any more?
(This is not mine, it is from Warren Buffet)

 

[Louis_tr]

Trading is not for impatient people, trading is for people who know how to wait. A good trader never operates on impulse or gambling addiction. The good trader only operates when he has the maximum chance of things going well.

That’s a very good point picked up here. Impatience is something that can take all of us away from our profitable trading ventures and this is happening with many traders in reality too.

 

[Danielbanker]

All in all trading is a very boring daily business. If you have a plan with crystal clear entries, risk management and exits, its just a execution job. You have to wait for signals of your strategy and that is most of the time very boring.

Daily trading and sticking to your plan is not as breathtaking as the trading industry would have us believe.