Disliked{quote} a discretionary trader can have an edge, an automatic system can have an edge, you have it only in the beginning though. both can focus too much on being right instead of planning and adapting for being wrong. predetermined probabilities can give you confidence but not certainty, you never know in advance what the market will do after you entered your position, but you can exit at any time (most of the time) so it's not quite like roulette, you can exit when you see the ball slowing down and heading for the other color, and even move your...Ignored
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Narrowed but deep focus as the foundation isn't nearly effective as a wider foundation. Fractal nature of trees says a lot.
For the bulk of my trading "career" my focus was increasing accuracy and upping the winning percentage. I've always had good r:r so that wasn't issue. The biggest effect on my account came from widening the foundation and learning money/bank roll management. Martingale vs anti vs The Ralph Vince model blah blah blah. The next biggest effect on my account was mindset.
Going back to the Pythagorean Triangle in a previous post:
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The longest side is not the logic (trivium) or dimensional (quadrivium). Its the 5 senses side. The perception side. It's a cliche saying that we trade our perceptions. Our perceptions are not only based on our market or trading perceptions but how we see the universe. How we see ourselves and our place in the universe. Many of our perceptions are based on how feel physically. Emotionally. Again, most of those perceptions have zero to do with trading yet in my experience have had the most dramatic effect.
QuoteDislikedAs to the methods there may be a million and then some,
but principles are few.
The man who grasps principles can
successfully select his own methods.
The man who tries methods, ignoring principles,
is sure to have trouble.
~ Ralph Waldo Emerson