This Week's Question: What Do You Think is the Most Important Element in Trading?

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There are a lot of “elements” in trading.

My top pick would be patience. When you buy (long) or sell(short), you’re typically doing that based on the strategy you’ve implemented. Time will tell if you are right or wrong, you just need to have the patience for it to fully play out.

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And this makes a person right or brighter than somebody else? Their being on a site more? Please lift the level of reasoning people.

no Goate i agreed with you ,it good we have transparency on the site with strong opinions .professor pips spend s that much time on here he becoming a parrot

I apologize Greenscorpio, I apparently got what you said wrong. It sort of puzzled me though because I saw that you had like my comment. :wink:

no problem , it was a honest comment

I think it is a good technical skill and risk management which can give you an edge on the market in the long run,but also discipline and consistency is key in everything including trading…the ability to be open learning constantly is one all traders need.
I’m not that experienced in trading but from the little experience i have gained so far this what i have come up,still looking to learn more.

And wile I have the floor let me say something on this business of risk management everyone speaks so glibly about. From where I stand it is relative. Let me repeat…the business of risk management is relative. And yes I understand that it is a safety net for not having one’s funds evaporate, lol. But how would you apply risk management (note my tight stop losses) to my results below???

Lol i see you bro,but like i said i dont have that much experience in trading so that is just an opinion and i have also been able to make profits over a period of time and see all the profits blown away in a day…so that’s why risk management and desciplined becaus if you have risk management you are garanteed the next day,week or month and you can always make up the loss with a good risk reward…and if not you can be able to see whether you strategy is working well with time.

I would say survival consistency discipline

Yes but the question said most. Not the three most.

The most will have to be self discipline,with that you get to really choose what you “truly” want to be good at…and stick to that.others wise if you follow what other people say or do you might get caught up with something that doesn’t even define you or your goals,then you’ll make all the monet and not get keep any of it lol.

The most important is to dont risk what you cant afford to lose.

The most important element in trading is the risk management

goti and red scorpi,o congratulations, you showed a high level of conversation :slight_smile: :clap:

We can have all the information that we’ll need, PP, but that doesn’t mean we’re going to be successful at trading, even if we can use the information as being the most probable result from managing a trade.

IMO, the most important element in trading is you - or me, in my case. How well do you know yourself? Do you know yourself inside out? Do you know how you’re going to react in any circumstance? Until you’ve mastered yourself, you’re vulnerable to what the market throws at you…

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According to me the most important element in trading is planning. It is very important to plan your goals and strategies as it helps to be consistent

Hey, as long as I mention in your question about the one most important element of trading, I’ll tell you"discipline."

swing trading is good

Risk management for me. Under that umbrella you could include discipline, capital preservation etc

I agree. The market introduces you to yourself. The profits are all there! And there are clues to what could happen next.

If we don’t profit, it’s our own fault. Look at the charts, and you’ll see everything clearly. That’s why backtesting is slightly flawed. There are no emotions in backtesting.

You could have a 100% profitable strategy, your flaws will turn it into a 15% win rate.

Live trading will bring all your faults to your doorstep.