Quote from efficiency:
Whoa and double whoa.
I'm personally not too pius.
I'd say psychology is about 2/3 of "it". We all see the SAME stream of prices. Some succeed. Fewer succeed consistently. Some fail. Some fail consistently and hence POOF, disappear (only to be replaced by more).
What separates the men from the boys? Some magic chants?
Knowing your risk and acting without hesitation. Do these stem from psychology?
What about indentifying edges?
What about making a gracious exit (the willingness to let go at profit OR loss)? That's where the money's made or shall we say BOOKED.
The remaining third? Hmmm. Obviously the tools you choose. Canned indicators yield canned results.
Seasonality. For example once options are assigned, it's a clean slate. Or the last two days of one month AND the first new month due to institutional inflows. The January effect is probably in November due to institutional fiscal year ends.
Volatility. Quiet leads to range expansion and vice versa making the ATR pretty good tool.
What YOU do with your tools is...........................psychological.
