A lot of things that includes the trader able to manage it all as a working team. Thus, the trader may arguably be the most critical variable.
What makes Successful Traders?
- Thread starter Jamie J.
- Start date
A lot of things that includes the trader able to manage it all as a working team. Thus, the trader may arguably be the most critical variable.
I agree -more data is better.
Banks may do worse , but belly up less because of federal reserve.ES has so many traders in it, it chops+ slops more than many.....
Now that is a good question. Each platform has its own Expert Advisors. Takes time and patience to wade through testing them but................
No analytical or innate skills required although many from left brained backgrounds ala scientists/engineers will disagree. It's about 95% money management and managing risk. Also success in trading is more about psychological attributes such insane focus, a 24 hour obsession to the markets, fiercely independent (not listening to the experts (none of which exist) Few are willing to make those sacrifices. Too many focus on trying to find some Holy Grail or secret order in the markets - good luck with that.
No analytical skills required? What do traders DO during their "insane focus" and "24 hour obsession to the markets"? Besides pushing order buttons...aren't they analyzing? If they are following a mechanical or automated system...a lot of analysis went into those systems before hand? Totally agree with fierce independence! Money management to me is high probability trading.
No analytical skills required? What do traders DO during their "insane focus" and "24 hour obsession to the markets"? Besides pushing order buttons...aren't they analyzing? If they are following a mechanical or automated system...a lot of analysis went into those systems before hand? Totally agree with fierce independence! Money management to me is high probability trading.
Money Management ...
You don't manage till you know the machine.
Would you put a coin of 2K$ into an obscure money machine ?
Given the fact you know absolutely nothing about the consequences.
I've seen guys getting crazy because the soda machine was broke,
They just lost 2$ because the machine was actually down.
Before to put money into it or not & how much,
One has to know a bit about the machine.
You can get broke by putting 2$,
Pieces after pieces in a ...
Broken Machine !
The goal of a trader is to insert a coin of 2$,
For actually getting something that's worth more.
So..."KNOWING THE MACHINE" can only come from analysis...right?
No analytical skills required? What do traders DO during their "insane focus" and "24 hour obsession to the markets"? Besides pushing order buttons...aren't they analyzing? If they are following a mechanical or automated system...a lot of analysis went into those systems before hand? Totally agree with fierce independence! Money management to me is high probability trading.
There is no right or wrong answers in this thread being that trading is such an individualistic process. Different strokes for different folks. For me the 24 hour hour obsession is the constant mental strategizing of what I will do if the market does this or that. I am 100% opposed to mechanical/automated trading. Simply reacting to the flow and rhythm of pure price action without all the bells and whistles.
Yes. Like hackers that get an ATM machine,
For studying it then hacking its peers.
=D It proves your point ?
Cool, nice. Glad !
That's all I'm saying...constant mental strategizing is ANALYSIS. I do this as well.