The Path To Success
This was taken from a 2019 post nonetheless.
Here are a few important things to understand fully on your trading Journey.
- Trading and gambling are two different things, you can increase your probability drastically by educating yourself, ultimately, putting that knowledge to practical use.
- Learn as much as you can. After which, pick only the strategies/patterns that you like most and are comfortable with, is it 3 bar play? 3 bar reversal? Are they reversals? bull flags? etc. You only need 1 to be profitable but for now focus on 2 - 3.
>as an added bonus, using more than one strategy to confirm a entry goes a long way, additional multiple time frame analysis also gives you a more concrete entry and exit.
- Know every major patterns and master them.
- Practicing goes a long way!! do No underestimate it.
the most important bit of information: you will need to learn or master patience with trading... Sometimes it'll be used for profit taking, other times for entries. Whilst other times it's for waiting for a perfect setup. Do not underestimate patience..
UNDERSTAND THAT HUMAN TENDENCIES ARE WORKING AGAINST YOU AND PREPARE IN ADVANCE TO MASTER AND THWART THOSE TENDECIES!! "GREED", "FEAR" : these monsters will kill you.
Don't give up. There's light at the end of the tunnel.
Here are a few important things to understand fully on your trading Journey.
- Trading and gambling are two different things, you can increase your probability drastically by educating yourself, ultimately, putting that knowledge to practical use.
- Learn as much as you can. After which, pick only the strategies/patterns that you like most and are comfortable with, is it 3 bar play? 3 bar reversal? Are they reversals? bull flags? etc. You only need 1 to be profitable but for now focus on 2 - 3.
>as an added bonus, using more than one strategy to confirm a entry goes a long way, additional multiple time frame analysis also gives you a more concrete entry and exit.
- Know every major patterns and master them.
- Practicing goes a long way!! do No underestimate it.
the most important bit of information: you will need to learn or master patience with trading... Sometimes it'll be used for profit taking, other times for entries. Whilst other times it's for waiting for a perfect setup. Do not underestimate patience..
UNDERSTAND THAT HUMAN TENDENCIES ARE WORKING AGAINST YOU AND PREPARE IN ADVANCE TO MASTER AND THWART THOSE TENDECIES!! "GREED", "FEAR" : these monsters will kill you.
Don't give up. There's light at the end of the tunnel.
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