The most important thing in trading

NVP

Legendary member
37,283 1,936
Edge and psychology are mentioned in above posts ........you need a serious edge to,trade,successfully and you need your head right in the zone as well.....plus bucket loads of other important things in your toolbox

That's why successful and consistent trading profitability is so hard to achieve ........you have to be the full package every time you step into the market ......

N
 

NVP

Legendary member
37,283 1,936
Usually when traders say that "the market has changed" what they mean is that their method doesn't work as well anymore. The "market" may not in fact have changed at all. The problem may be rather that their method was inadequate. If one "can lose his edge at any moment", he never had one to begin with.

Price, as you point out, changes constantly, at least in an active market (though there may be a few seconds during which contiguous trades are made at the same price). However, traders never change and never have. Their greed, fears, and hopes continue to motivate their trades just as they always have. If anything changes at all, it is only the quality of these motivations, e.g., deliberate and measured selling vs panic selling.

The difficulties in which most traders find themselves stem from their focusing on illustrations of price behavior -- indicators, candles, bars, diagrams and so on -- rather than on the price behavior itself: how active traders are (volume), how quickly price reaches its destination (pace), how far each buying or selling wave goes (extent), how long each of these waves lasts (duration), and where and how and for how long trades come to rest (equilibrium). These elements are omnipresent and never change; all that changes is their quality. If one builds his edge on an understanding of how these elements interact to move price, he will never lose it.
Good points ......most traders are looking in the wrong places for clues .......that's the reason most fail as well.....

N
 

Nuadarne

Member
76 8
I will agree that psychology is one of the most accurate helpers on the market, because it is confidence and understanding of what will happen in the future help you make informed decisions and act according to a predetermined plan. If every unforeseen situation makes you worry so much that you can not think - it means only one thing, you will not have a development and a result that is worthy of praise. You have to accept that you will not always be on top, that there will certainly be situations that you have not foreseen, you will surely lose money. But each situation will make you stronger and only in this way you can become a wealthy man who knows how to make money.
 

Aramtant

Newbie
8 0
I think that everyone highlights something different for themselves, because when you start to think about it more specifically, it seems to you that everything is the main thing for you, and this is probably the truth, because success in achieving a goal is always a set of factors and details. But I still think that the main thing is to set specific small goals for yourself, which have their own terms and conditions to achieve. So you have to constantly study the market and not to give up if something goes wrong, because in fact it happens all the time and not only in trading, but in any other business. I think that trading should be treated with great respect, because it allows each of us to earn and feel like a man of business, whatever else we do in life...
 

Melodiousmelody

Junior member
15 3
For me, the main thing in trading is to not get affected by what people say and do. one should be open to advice,suggestions etc but at the end you should use your own logic behind every decision that you take.
ALSO, equally important is to be disciplined while trading.
 

Dreamer8

Junior member
30 5
For me, the main thing in trading is to not get affected by what people say and do. one should be open to advice,suggestions etc but at the end you should use your own logic behind every decision that you take.
ALSO, equally important is to be disciplined while trading.
That's right, I strongly agree on the discipline part. Without being disciplined, success cannot be achieved.
 
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Genois

Newbie
4 1
Trading plan, strategy and a good broker. These are the most important thing.
 
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