How much luck is important in intraday trading if you want to live with trading?
TRADINGFEATURED
"Focusing on the market, not on the luck in your trading account enables you to make the best, objective trading decisions in each situation, and doing that enables you to ultimately make the wisest and most profitable trades"
Skills that traders need :
Research and Analysis
The ability to do quality research and solid market analysis is fundamental for trading success. Master traders learn and perfect by utilizing market information both fundamental economic information and technical information in the form of trading and price action that occurs to adapt and approach the markets in the most effective way possible. Focusing on the market, not on the luck in your trading account enables you to make the best, objective trading decisions in each situation, and doing that enables you to ultimately make the wisest and most profitable trades.
Adapting your market analysis
Over time, master traders develop strategies and trading techniques that they use over and over again. Over time, every trader puts together his toolkit of methods, maneuvers, and trading tactics. That’s a good thing. You must have your own individual trading style and trading edge such as specific combinations of trading concepts that give you a better understanding.
Staying in the game
If you are a full-time trader, you will inevitably be met with considerable gains and at other times significant losses. Sticking with it and staying in the game is an irreplaceable and vital skill that every master trader possesses. A significant part of being able to stay in the game is practicing good risk management and money management. It’s easy to feel excited when it hits positive but staying in the game will make sure you know to look for another opportunity.
There is a sea of individuals who are looking to become traders, let’s establish one thing anyone can be a trader and luck has nothing to do with trading.
Credit: Quora