Quote from: lixer on Today at 07:26:21 PM

Quote from: boyptc on May 12, 2024, 10:59:36 PM

Quote from: Bravut on May 11, 2024, 10:29:26 PM

In trading,having the right knowledge and refining it. Will ensure your profitability, in essence build your skill set so that you wouldn't blame your losses based on psychology as other traders.

Having right knowledge isn't enough.

There's more to it when you've discovered how the actual trading goes to work. You have the basic knowledge and refining it still won't be enough to be honest.

You need to be better in most of your decisions and actions because of how quick this market goes, you might miss a lot of money or get to lose a lot in split seconds because of poor decision making.

You can be good in TA, FA, etc but when you're slow as a turtle in executing it, it doesn't make sense.

But I think that having the right knowledge will increase your confidence, which means that you can now decide more quicker but maybe you are still right that it is not enough because we might also need a luck as the market can still moves randomly sometimes.

Now if we don't have it, this is where we can lose quickly but as long as we are minimizing our volumes, we still have something left and we can use them to possibly recover and back on the profiting side again. Other than luck, we also need to be good at controlling our emotions because I think that having a good knowledge is separated to it, or having a good knowledge can also make us over-confident and greedy.

I am not saying that it is not going to increase your confidence but I'd say that it is not enough. It's good to have the right knowledge but it's about the final decision with your trades.

That's why it is what traders have to think of when they have the background already. It's not about how quick you are to decide but it is about on how good you are in making decisions.