I admit, I pushed it too far by saying indicators are useless. I know they can be used to trade successfully but Linda Raschke said it best,
"I've known hundreds of professional traders throughout my career. I don't want to disappoint you, but I know of only two who were able to make a steady living for themselves with a mechanical system.â€Â
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On the other hand the small percentage of actual pro traders (who closely protect their own methods) claim there are no secrets to trading. I think the truth falls somewhere in the middle. The holy grail of trading I think is centered in two keys: 1) The "discipline" to stick to a simple trading plan with a tremendous focus on money management and position sizing to protect your trading capital and 2) Centering your trading plan and rules upon info that shows what the big dogs are truly doing to move the market and riding those moves piggyback as well as you can. |
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I completely agree with this. There are no secrets to trading. A simple trading plan is enough to generate a steady income. The key to success is understanding your methodology 100%, believing in it, following your trading plan, and having discipline. But I think the tricky part is that although you will see professionals trading as if trading was easy... to get to that level of comfort took alot of hard work. Trading should be easy, but that is after you graduate from the hard part.