#1 practice - psychology of protecting oneself. If this is not your top priority it is just a matter of time - bye, bye funds.
I understand but don't agree with people who try to talk themselves into doing things without having the necessary knowledge.
analyze the market and your setup,never trade unless it's a setup,when wrong trade out of it..so one skill would be picking a winner,.......and maybe more important is the skill of sitting and waiting til one comes along....people take this for granted but failure in this area is where all the money escapes....start with one setup.trade it,learn another, trade 2 setups and so on..think of each setup as a new storefront bringing in more money...you would think it over several times before opening a new storefront,you do the same with each setup,once you have mastered it ,trade it...
In other words, this reasoning has a specific asymptote. Take the shortcut and get there in a month or so. I do not agree with the OP, either.
The Most Important Trading Skill: Adaptability. I know too many guys who are constantly chasing the temporary systematic grail.
reading the market, there are many great traders who can't read the market, and many great analysts who can't trade, i would say being good at both would be the minimum base for a long career
Why would you ever need to read the market then? Actually, serious question - what the reading of the market is? How do you read it?
#1 practice - psychology of protecting oneself. If this is not your top priority it is just a matter of time - bye, bye funds. If you don't within every aspect of your overall trading endeavour have "protecting oneself" as an inherent design priority, it is just a matter of time - regardless of your trading knowledge or edge. How do billion dollar funds blowout? They have plenty of trading knowledge - but they stopped being fully aligned with "protecting oneself" in every aspect of their fund operations. Psychology, and the recognition of how critical it is to adopt full time 100% self protection, is the master in trading.
that is not the case. on the contrary, it is the case. why? yes, change is the only constant in the universe,but you must understand what change you need adapt, what you should not. market here almost several hundreds of years. what changes nade? it becomes bigger (more people are involved) it become more convinent (day trading possible for anyone) it become more efficient (when some news hit the market,almost everyone knows it) those changes are superficial, not the essential. sugercoat those changes are the "unchangable": human being, they still blindly follow; they still do things emotionally; they still make those mistakes like their ansetors even thousands millions of years ago. grasp the "unchangable", you grasp the key understanding of the market. based on this ,then you know what you should do. then stick to it, sit tight when everyone else keep figgeting; keep focus while every else try to beat the brush, try this and try that, try to go short-cut.... ignore superficial, grasp the success key, never yield it. most successful traders, and most successful people in any other fileds. they succeed, they persist. of course, they know what is the key they should persist.