What do you think matters most in trading?

[virtusa]

Norman R. Augustine: A hungry dog hunts best.

When hunger turns into greed the dog is vulnerable. Just wait long enough and with some poisoned bait you can catch him. Hunger is not only a motivator, it is also making dogs vulnerable as the highest priority for hungry dogs is to catch food, no matter how and no matter what food.

We see this happen for several years already in the crypto markets. On ET some diehard fans write for years already about the "suckses" of BTC. Even a +50% drop, lasting for more almost 2 years already, will not stop them dreaming (or scamming others). Even more than 10 losing trades in a row in BTC will not stop them. Their greed has taken over their brain.

 

[traider]

There are many factors that matter in trading, but I would say that the most important are:

• Discipline: Trading is a long-term game, and it takes discipline to stick to your trading plan and not let emotions get the best of you.
• Risk management: It's important to set stop-losses and only risk a small percentage of your account on each trade. This will help you to minimize your losses and protect your capital.
• Knowledge: The more you know about the markets, the better equipped you will be to make informed trading decisions. This includes understanding the different types of trading strategies, the different types of markets, and the different factors that can affect market prices.
• Experience: Experience is the best teacher, and the more you trade, the better you will become at it. However, it's important to learn from your mistakes and to constantly be improving your trading skills.

Of course, there are other factors that can matter in trading, such as technical analysis, fundamental analysis, and market psychology. However, I believe that discipline, risk management, knowledge, and experience are the most important factors for long-term success in trading.

Here are some additional tips that may help you to become a successful trader:

• Start with a small account: This will help you to minimize your losses if you make mistakes.
• Paper trade: This is a great way to practice trading without risking any real money.
• Find a mentor: A mentor can help you to learn from their experience and avoid making common mistakes.
• Join a trading community: This is a great way to learn from other traders and share your own experiences.
• Stay up-to-date: The markets are constantly changing, so it's important to stay up-to-date on the latest news and trends.

 

[ironchef]

Norman R. Augustine: A hungry dog hunts best.

And one of your very own, William Eckhardt, said on The New Market Wizards: You are much better off getting into the market on a shoestring feeling that you can't afford to lose.

 

[fullautotrading]

And one of your very own, William Eckhardt, said on The New Market Wizards: You are much better off getting into the market on a shoestring feeling that you can't afford to lose.

It does not matter what one "feels" if he does not know what he is doing in the mkt, and if lacks capitals

 

[ironchef]

It does not matter what one "feels" if he does not know what he is doing in the mkt, and if lacks capitals

He claimed his partner, Richard Dennis started with a few hundred dollars and traded into hundreds of millions.

The reality is there are many ways to make money but what works for you won't work for me.

When I finally realized I needed to do what fitted my personality & circumstances, things started to turn around. I no longer try to be who I am not.

 

[fullautotrading]

He claimed his partner, Richard Dennis started with a few hundred dollars and traded into hundreds of millions.

The reality is there are many ways to make money but what works for you won't work for me.

When I finally realized I needed to do what fitted my personality & circumstances, things started to turn around. I no longer try to be who I am not.

Use common sense.
Most (99.9%) of the things you (think to) see or hear in the "trading world" are plain BS or covers up for other stuff

 

[ironchef]

Use common sense.
Most (99.9%) of the things you (think to) see or hear in the "trading world" are plain BS or covers up for other stuff

Thanks for the coaching. Appreciate it.

 

[fullautotrading]

Thanks for the coaching. Appreciate it.

Do not trust me too much, remember the 99.9%. I did not say I do not belong to it

 

[ironchef]

Do not trust me too much, remember the 99.9%. I did not say I do not belong to it

Are you a full auto trader?

Wish I could do that.

 

[fullautotrading]

Are you a full auto trader?

Wish I could do that.

Capital is just a prerequisite.

Do not believe in quick-rich stories. Also, think about all the infinite $$$ that needs to be laundered, and you will have the explanation of many "phenoms" out there.

It's not by gambling that one can make a consistent return. Gambling is entertainment that can occasionally get lucky but leads really nowhere in terms of actual, consistent long-term trading and market understanding.

Consistent automated trading is not suitable for dealing with small funds.
It's rather a form of wealth management. The best you can have, actually.

The development and platform itself would cost thousands or millions of times more than any return one can make with inadequate capital.

I know desperate people do not want to hear this and want to dream. Let them dream on ...