What is the single most important element in trading?
- Thread starter darvasboxes
- Start date
That's why there are so many lossers in this game.
I loved most of the voted answers .. they're wrong!
Nearest thing to 'right' is Market Selection.
The most important element: you have to research, learn and know your market. Who actually looks at the data of a market and even begins to ask the logical questions they need answered? And your asking goes on being refined as you go along researching and test trading. This is a professional and institutional approach.
Nearest thing to 'right' is Market Selection.
The most important element: you have to research, learn and know your market. Who actually looks at the data of a market and even begins to ask the logical questions they need answered? And your asking goes on being refined as you go along researching and test trading. This is a professional and institutional approach.
When the numbers are starring you in the face, you will know it.
And then you come back to a thread like this or the thousands of like it on ET, and realize that your arm is as important as your leg, and your eyes as important as your nose, etc.
Being profitable requires enormous work to hone your craft or system, and the markets love to probe for weakness no matter what it is. That's why no finite list of "good qualities" will ever encompass what is required.
Most of the answers given here are looking at it the "problem" upside down. When the problem is turned right side up, all the holes get filled naturally, with the exception of possibly Money Management, or how to change bet size based on edge. That is still an unsolved problem for me because I still don't understand how to extract a probability of success for a given trade from my systems. That probably means fixed fraction as a short term solution, but I am not sure...
nitro
And then you come back to a thread like this or the thousands of like it on ET, and realize that your arm is as important as your leg, and your eyes as important as your nose, etc.
Being profitable requires enormous work to hone your craft or system, and the markets love to probe for weakness no matter what it is. That's why no finite list of "good qualities" will ever encompass what is required.
Most of the answers given here are looking at it the "problem" upside down. When the problem is turned right side up, all the holes get filled naturally, with the exception of possibly Money Management, or how to change bet size based on edge. That is still an unsolved problem for me because I still don't understand how to extract a probability of success for a given trade from my systems. That probably means fixed fraction as a short term solution, but I am not sure...
nitro
Perseverance
The most important element of trading is Self Control
Self Control - to maintain discipline
Self Control - to only take the right setups
Self Control - to let profits run
Self Control - to cut losses
Self Control - to plan a trade
Self Control - to trade a plan
Self Control - to use proper money management
Self Control - to control yourself - Self Control
Self Control - to maintain discipline
Self Control - to only take the right setups
Self Control - to let profits run
Self Control - to cut losses
Self Control - to plan a trade
Self Control - to trade a plan
Self Control - to use proper money management
Self Control - to control yourself - Self Control
