Hi amigos.. let's keep it simple ;
1) You need a technical edge, a system that puts the odds in your favour.
There are countless schools of analysis and strategies you can dive into— From my experience, this is the best one you can learn:Technical analysis / Volume Profile / Order Flow ...
but the most important thing, Is mastering them like a true maestro... And that, my friend, takes time, patience, and relentless training.
PS : everything is free online , you dont need to buy a shit. youtube is your friend.
2) Money management - You need to understand risk and be able to manage this ongoing.
I’ll leave the floor to you to talk about this field from your own exprience.
3) Psychology - You need to learn, understand and be able to apply trading psychology 24/7.
There are some individuals—psychiatrists and seasoned minds—who offer teachings in this domain.
ex : Rande Howell - Tom hougaard - brett steenbarger
They all run YouTube channels.
You must have all three to trade successfully and they're written in order of importance.
You must also learn each aspect in the order I have written them. You can be a master of trading psychology or money management, but if you don't have a technical edge you won't make money.
95% of retail traders never overcome step 1, this is why so many fail.
1. When you do have that technical edge then most of the time we would be that using up this kind of approach because not all the time on which the market would be giving out that sentiments or news around on which simply means that you cant just that make out some blind trades without any basis specially if you are doing some short term approach. You are the ones will be that making out some decisions on trying out to familiarize on those specific tools that you would be gonna needing because at the time that you would be finding yourself having no knowledge towards it then it will be that resulting into that tons of mistakes or errors or simply you are just that doing gambling with it.
2. Money management would be that important on which its common sense. You do know about risks management on which this will help you that be able to avoid into those impulsive reactions into your positions on which if you are that seeing that been losing. When you do have that proper management then you can be able to handle out your trading capital on which you can make those kind of allocations on whats the amount of money that you would be that trying to risks on. Trading capital should be that handled well and if you do saw yourself that having needing those kind of adjustment then you should be that doing it instead on trying out to become impulsive and make yourself to be a gambler rather than on being a trader. You should be that careful into this one.
3. Psychological and Emotional aspect on which this would be that something that you do need that to have that control into. Why? If you do fail on doing so then it would be bringing out that huge problem when it comes into your trading because those things above will be that totally useless if you cant be able to stick into your plan just because you've been having those kind of panic or having those kind of changing up plans whenever the market do make out some opposite movement basing up on what you had set. There are those times or conditions that you do become that not be able to think up well on various situations on which it will be resulting into those negative reactions or outcomes just because you cant think off well or having that sense on what are the things that you should gonna do.