Why do you trade?
Yes, we know entry , exit and money management skills are important. What else? I would say it is the patience to stay away from market. Why would I say staying away from market?
1. When you do not know what to do, don’t do.
2. When market failed to form your entry setup, do not put in a trade.
3. When you have hit a string of losses, and your monthly limit is hit, don’t trade
4. When your account is too tiny to handle the potential big loss, don’t trade.
Basically, if odds are not with you, why do you trade? People are willing to spend days or weeks to check out the specifications of motherboard, processor and hardisk etc before deciding to purchase a few hundred dollar worth laptop, but they are only willing to spend 5 minutes before making a trade which might wipe out their bank account.
Market is going to open tomorrow, market is going to open next month, market is going to open next year. So why the rush?
