What was the ***last*** thing you had to master before becoming profitable?

[kiwi_trader]

Myself: balancing patience and care with doing it.

 

[Redneck]

Quote from Cesko:

Let profits run.
Cutting losses? Piece of cake.

Most definitely

RN

 

[Cutten]

Being able to recognise the difference between a meaningful move and normal market noise/chop.

 

[auspiv]

Quote from Cutten:

Being able to recognise the difference between a meaningful move and normal market noise/chop.

is volume a big (the biggest?) part of the difference between a move and chop?

 

[NoDoji]

Quote from Cutten:

Being able to recognise the difference between a meaningful move and normal market noise/chop.

Cutten, how do you recognize that? I look for volume behind the moves, but are there other things to look for?

 

[Bolimomo]

Quote from Cesko:

Let profits run.
Cutting losses? Piece of cake.

This has been so hard for me.

I have learned to cut losses very early.

But dang... it's so hard to let profits run...

 

[Bolimomo]

Quote from Cutten:

Being able to recognise the difference between a meaningful move and normal market noise/chop.

A meaningful move on a daily chart is found too often.

Normal market noise/chop on a daily chart = some meaningful moves on an intraday chart (e.g. 5-min, 1-min).

Normal market noise/chop on a 1-min chart = some meaningful micromoves on a 42 tick chart.

In general: market noise/chop in a higher time-frame can be meaningful moves in a lower time-frame.

So... pick your trading time-frame and compare to the backdrop higher time-frame.

 

[Random.Capital]

The password to the Fed's computer.

 

[jnbadger]

Automation.

 

[Eight]

The simulator, hopefully.....