The Three Most Important Things to Know in Trading
We all like when things are neat and in order, even though so many things in life and in trading are not. Below I’ve listed the 3 most important things to know in trading.
1) The most important quality in a trader is the ability to let a profit run.
2) The second most important thing in trading is to know the direction of the trend on the next higher time frame.
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3) The third most important thing in trading is to know when a trend has definitively shifted.
I am certain of the first three.
Number 4 in importance I would guess would be to have outside interests and hobbies that have nothing to do with trading.
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DISCLAIMER: Futures, options and Forex (off-exchange foreign currency futures and options, or “FX”) trading involves substantial risk of loss and is not suitable for every investor. The valuation of futures, options and Forex may fluctuate, and, as a result, clients may lose more than their original investment.