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POLL: What is the Most Important Thing in Trading?
- Thread starter rcanfiel
- Start date
Quote from DrEvil:
Time.
Enough time to elimate (through trial and error and backtesting) the myriad of stuff that doesn't work to be left with a very small set of stuff that does work.
Enough time to become a master of 'what works'.
I think thats where "sufficient trading capital" comes into play. Its a race to get profitable before the money runs out. the sooner you learn how not to lose, the longer you can stay in the game. Once you get good at not losing, you find yourself making money.
By not losing I mean not losing lots of money. Every trader loses sometimes.
Quote from jaronimo:
I think thats where "sufficient trading capital" comes into play. Its a race to get profitable before the money runs out. the sooner you learn how not to lose, the longer you can stay in the game. Once you get good at not losing, you find yourself making money.
By not losing I mean not losing lots of money. Every trader loses sometimes.
I am of the opinion that you can achieve much of this in demo, without risking real capital until the later stages. At least that's the way I approached it.
Quote from DrEvil:
I am of the opinion that you can achieve much of this in demo, without risking real capital until the later stages. At least that's the way I approached it.
Yes, you are probably correct.
One problem I see with demos or papertrading is that once you switch to real money you do stupid things. At least i have in the past.
I think patience should be added to the poll. That was one of my biggest stumbling blocks.