Thats a pro advice. A trading plan is a guiding light.
Agreed, trading plan must be in place; however, I see a lot of traders strategizing without one.
True, the importance of a broker cant be undermined.
C
cantagril
...undermined??
Plus a good risk management to run that strategy safely, not putting a lot of our funds at risk.
Indeed that is ! It helps you trade efficiently within all boundaries and rules.
That's right. Just to add, I think risk management plays an important part too.
Trader H.C.
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Like others have said - you need an EDGE.
The big question is how to find one. Most people out there never get to the point.
An edge is done through backtesting and optimizing your trading strategies properly, reviewing its historical performance objectively.
Once you discovered a profitable strategy with an edge, all you need to do is to execute it precisely.
Check out my YouTube channel for more related videos, consider subscribing if you find it useful: https://www.youtube.com/channel/trader_hc
The big question is how to find one. Most people out there never get to the point.
An edge is done through backtesting and optimizing your trading strategies properly, reviewing its historical performance objectively.
Once you discovered a profitable strategy with an edge, all you need to do is to execute it precisely.
Check out my YouTube channel for more related videos, consider subscribing if you find it useful: https://www.youtube.com/channel/trader_hc
Felix_trade
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The most important thing in trading is skills and sound trading plan.
Simionluca
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For me most important thing in trading is knowledge.
J Livermore
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I believe that the most important thing in trading is experience. This can not help the beginner of course. That’s why it’s important to trade small, small, small, until you slowly over time gain the confidence and experience.
Trading in my opinion is one big bet. You are betting that you will learn to trade before wiping out. This unfortunately is a very hard thing to do sometimes.
I have the same belief. The more the knowledge the better your trading can be.
jonfuentesx
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Trading is as difficult as it is to speak in public or go from one window to another ... on a 300th floor.
The technique is simple, you just have to talk or walk (in the previous examples) the problem is that small structure called the amygdala in our brain that paralyzes and complicates things.
The technique is simple, you just have to talk or walk (in the previous examples) the problem is that small structure called the amygdala in our brain that paralyzes and complicates things.
Indeed a good point.
WalletInvestor
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I guess it varies from person to person what is considered the most important part of trading. Different aspects of trading are not equally difficult for all people.
Most of the things mentioned on the thread are pretty important - edge, trading plan, risk management, discipline, knowledge etc. None of these can really make you successful without the others.
Most of the things mentioned on the thread are pretty important - edge, trading plan, risk management, discipline, knowledge etc. None of these can really make you successful without the others.
