For years, I thought that good trading meant good charting. It was like if I had the ability to capture something magical there, I would have solved everything. In fact, when I first started learning, I spent hours watching graphics that I did not understand at all. So to speak, I watched like an ox watches a train. At this point I have seen how wrong this is. Because graphics knowledge is a very small part of the job. Yes, there are some important things that lead to results and are quite effective. Averages, RSI, volume, support, resistance, break out, divergences, etc. Yes, they are important, but ultimately they are not enough. They give different outputs depending on the time period you look at. Today I realized that being a good trader means having certain skill sets. If you don't support it with other skills, there's a high chance you'll get beaten even on the best graphics. Focus your actions on improving your weaknesses. Remember, no pain, no reward. Improve yourself not to depend on anyone.
Here are the skills:
Make everything material for your development: As you educate yourself, your curtains will lift.
Have simple and intuitive trading skills: For example, not selling without taking a certain amount of profit. Or being able to exchange goods with equal multipliers for better ones. Or to be able to distinguish the goods that the market may demand.
Risk management: Make protecting capital your priority. And you should not invest more than a certain amount in the same position. How was that beautiful word? The market gives more to those who protect what they have.
A speed appropriate to market dynamics: But remember, it is not those who first see the opportunity who win, but those who take action at the right time. Don't chase opportunities. Real opportunities are the ones that come to you.
A professional spirit that has not lost its amateurism: This will protect you against various conditioning blindness.
Immediate and intuitive reaction: Intuition is not a simple inner feeling. It has an implicit knowledge background. And maybe 100's of thousands of processes go on in the background. You can't express it, but it works.
Determination, discipline and patience in implementation: Patiently maintain your working setups. Rather than suffering the pain of regret, suffer the pain of discipline.
Flexibility and ability to adapt to changes: You should at least have a plan B. And it is necessary to learn to move with the trends. You must have a stop loss and take profit point. I generally do not use stops until I see a better opportunity, but it is important to do so. Whether to use a stop or not is more about the difference between 'investing' and 'trading'. If you are an investor, stopping may not seem reasonable to you. But if you are a trader, it is important to stay in the game. It would be better if you use the take profit as a trailing stop as long as there is a trend. Be prepared for different possibilities, remembering that the market will have the final say.
Acting gradually: both quantitatively and temporally. The simplest way is to use dca. And spreading things out over time. Unplug sometimes to escape the urge of screens. And act for the long term.