Great thoughts here. I’d like to add one more thought that many new traders don’t consider. Having a strategy is a must as u27ma2 says, but what’s more important is risk management. Great risk management is what gives a large sample of trades the overall probability of success, because you can control your max loss and maximize your profit when a trade goes your way. For example, let’s say that out of 100 trades you lose 90 of them at an average loss of 1 unit of risk, and with the 10 you win, you earn 10x 1 unit of risk. That puts you up 10 units of risk. In other words, losses are limited while gains can theoretically unlimited. This is easier said than done, but that’s the possibility that the market offers when great risk and trade management skills are paired with a good strategy.