What has been the most significant factor in ur trading life so far?

The most important two lessons to learn is:

1. Cut your losses right away while they are still small and let your profits run as high as you can using technical analysis to tell when to get out.

2. Markets are always unpredictable, it can just turn on a dime anytime irregardless of what the short term, medium term or long term charts are telling you. It is this sudden change in the direction of the market that is the killer. All traders have been told to stay with the trend. This is true IF THE TREND CONTINUES but sometimes, the trend changes from up to down or vice versa and then starts a brand new trend while you are still living in the world of the old previous trend.

Your mind set is such that you fail to realize right away that a new trend has already started and which is the opposite of your position. You still believe that the long term, medium term or short term trend is intact when the reality is that a brand new but oppsite trend has just begun and it is not obvious yet to you so that you failed to exit your current position quickly.

Once these two lessons are learned, the hard part of trading is practically done. These lessons are simple but hard to put in practice and that is why all traders keep trying day after day in putting these two lessons to practice. Some end up making money at the end of the day because their analysis is quicker while others end up losing at the end of the day because they are slower in putting these two lessons in practice.
 
the realisation that unless I loved this business as much as the woman in my life, then I might as well pack up & go look for another boss…I don’t like bosses (sorry bosses!!)……changing MY belief structures (psychology study)…..gradually reducing the reliance on indicators (each to their own!) & I aint quite there yet…manically studying the one thing which moves markets – PRICE……and protecting my capital/trades like a rabid dog!! (money management)…..oh, and concentrating solely on one instrument, studying it, breathing it & rspecting it..................
 
:cheesy: :cheesy: ......gettin there Dow Dog, gettin there!!..... :devilish: .....if only I could discover the key to attaining the PHYSICAL delights of the markie.....then I might just become FULLY integrated into the zone......any suggestions out there??? :D
 
For me it is respecting the stop but not only when the market moves against you but also when it moves in your direction. I know one of the well worn trading mantras is never let a profit turn into a loss but unless you are skilled enough to run a system with super thin stop losses and a high loss/win ratio then moving to break even to soon to often will take you out of this game.
 
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