Or, "What is the single most important element of brain surgery?" - staying awake - finding the patient's head - cutting thru the skull - stitching them up - billing their family - luck Hmmm .... there seems to be an element in common. And what you do while you have the skull open (trade going) is missing. Of all the elements I would argue that only the common one is not most important.
There isn't a single most important thing in trading. You have to master all of the aspects to succeed. This is where a lot of people fail. They do not do not acknowedge weaknesses in their trading and hope their strengths in other areas will make up for it. Unfortunately, it doesn't.
Trend ________________ Trend Finding is Edge Finding and Edge Finding is Trend Finding nononsense's axiom
Excellent posting. If i had however to give one very important point it would be "trend" , as nononsense already mentioned. If we see on Elitetrader how many people don't believe in the use of trends it's no wonder that only a few traders can be successfully. The number of non-believers (in trends) reflects the number of unsuccessful traders perfectly.