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I think you already know that I agree with you. I am just facilitating a discussion. I've also said that the closest thing to the holy grail is diversification, something that basically no one ever looks at.
Good trading is dull and boring. Most of the time you are waiting for the same set up, indicator and/or a combination of a few selected methods that you narrowed to over the years. The best quality you can develop over time is patience for your setup.
Not sure how to explain why...but, let me try. Initially beginners approach the whole idea of trading with some sort of an excitement for risk and opportunity.
There is a throwing of a wide net of methodologies to see what has the highest and most consistent return. Eventually a trader could potentially conclude
what fits him/her in the process in terms of time frame, risk and the comprehension of methodology. This is where the narrowing starts until the parameters are in place.
Once the parameters are chosen, the challenge is three fold: being inactive waiting for action/indicator/system, recognizing which environment is more suited for the method, and accepting the draw-down of the system.
This is my observation and conclusion, recognizing that for different traders the "important" element could be different. But, my observations are based on actual experience for myself and others I have seen over the years.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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I think i found what might be the most important rule of trading to me but it could also apply to any other field and that is to stay healthy mentally as well as physically. Why? because day trading demands a lot of attention, mental agility and energy.
