If you had to name one quality to succeed in trading, what would it be?

Discussion in 'Trading' started by jamus, Jan 25, 2004.

  1. You will have to excuse me because im a bit cranky right now...

    But I get REALLY tired of hearing this crap.

    Trading it A LOT MORE than simply money management!

    I can give you a HUGE list of complete trading systems with
    GREAT money management that will LOSE YOU TONS OF MONEY.

    Period! This MYTH that its all about money management is
    getting really old.

    You **ALSO NEED AN EDGE** or all the money management
    in the world is completely useless.

    Wheeeew... im ok now :D

    If you have a great edge and no money management, you will
    blow out. But with no edge... you dont have a chance in hell PERIOD.



    #21     Jan 26, 2004

  2. I could not agree more. Not trading when there is no compelling reason to takes as much discipline as anything in the game. And this is perhaps one of the most difficult aspect of trading for newer traders to contend with.

    On the surface it seems contrary to the work ethic most of us grew up with. Work hard, be more successful. But is it really contrary? No. It is very hard to sit on your hands and wait for opportunities to come to you. But that is what it takes. And that is indeed hard work.

    #22     Jan 26, 2004
  3. Ability to think outside the box and independently.
    #23     Jan 26, 2004
  4. Really really great definition of reason. Thank You!

    #24     Jan 26, 2004
  5. :cool:
    #25     Jan 26, 2004
  6. the main thing you need is a pair of handcuffs for your inner child..

    #26     Jan 26, 2004
  7. Confidence :cool:
    #27     Jan 26, 2004
  8. prox


    #28     Jan 26, 2004
  9. I think that is one of the most important qualities.
    #29     Jan 26, 2004
  10. wdscott


    :D :D :D


    Yeahhhh I like it. :D :D :D :D

    Dave Scott
    #30     Jan 26, 2004