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.
Well even some got this they are still got screwed on trading cause its not always guaranteed that we will get some off a good results for example our trading analysis is good but the patience and psychology is saying something then theres not actually a good result. These elements need to synchronised for that Id agreed. But let me just remind that its not totally a proof fool strategy to overcome losses at some point.
In reality, no one makes a perfect trade, or probably a perfect trader. Each trader has certain lapses, and that leads to lose at some point, especially that trading itself is actually prone to losing because of its high risk. However, if you know well what you’re doing, if you trade with caution, you will prevent yourself from losing too much, while you are trying to improve your performance so you will end up having profitable gains.
Trading is hard, that’s actually true, but that does not justify that everyone will lose. Those losses are inevitable, but they can always be minimized by a good and skillful trader.