Automated systems can also react to the flow and rhythm of pure price action, and they can do it while you're at the gym, or getting your knob polished.
What makes Successful Traders?
- Thread starter Jamie J.
- Start date
Automated systems can also react to the flow and rhythm of pure price action, and they can do it while you're at the gym, or getting your knob polished.
huge amount of backtesting, say at least a few thousand samples in different years and different volatility range is the key answer .you can understand how good is good and how bad is bad only by observing historical data .it takes a huge amount of time .maybe years !
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Mostly, jamie;
about 7.77 years or more. Chance or luck has little or nothing to do with it.WHY NOT ?? John Henry , trendfollower said ''what you call luck- i call a small sample'' OF course you have to have enough money or trade small enough to last 7.77 + years. Good question Jamie J-murray t turtle
Thank you a lot for your post. I really appreciate it. And of course, for everyone trading is a matter of private concernment.
My vote goes toward discipline. Perhaps I'd even go so far as to say a form of humility, in the sense that the individual is able and willing to accept objective reality despite their desires and personal bias.
I'm sure there are a lot of cases where someone is in the right place at the right time and hits a really big trade, or develops a really risky strategy in certain market conditions where success is repeatable despite a large degree of unrealized risk that they managed carelessly.
But for the solo individuals who produce consistent success over a long period of time with a high frequency of trades, I don't think I've met one that hasn't met and subdued, at least to a manageable degree, some core personal demons pertaining to our innate egoism.
I'm sure there are a lot of cases where someone is in the right place at the right time and hits a really big trade, or develops a really risky strategy in certain market conditions where success is repeatable despite a large degree of unrealized risk that they managed carelessly.
But for the solo individuals who produce consistent success over a long period of time with a high frequency of trades, I don't think I've met one that hasn't met and subdued, at least to a manageable degree, some core personal demons pertaining to our innate egoism.
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Some can learn quicker than that[ 7.77 years];
but i used those numbers, she probably likes them + good cycle for bull trend + bear trend....
I disagree, a lot of trading has to do with intuition esp daytrading. If you trade without it your better off buying lottery tickets.
Prove it