Knowledge Vs Technique

I always heard peoples, mostly traders who have traded for a while or previously traded and does not have the result as expected ask about the most important aspect to be successful trading in financial market. And I replied to them, "it depends on how well you know yourself first." I had to reply that way as the question addressed was general and there are so many answers to the question that sounds similar like that. Of course, most of them were puzzled as the question was not answer properly nor they cannot find any sense to that.

To sum up "how to be a successful trader" and what does they do not want to tell you after you have spend so many money, so much time and effort reading their books, seminar and course, the most realistic steps I can come up with is the framed banner wrote " Personal traits, market specialization, knowledge + skills, that is it. Sound simple but impossible to apply it when you are actually trading or riding in between the action. Well, not until you lost a hell lot of cash and able to slowly regain you capital and finally you realize, hey, why I do not though about it earlier, is always about me first. What happen to those who is still looking for the BEST way, BEST  method, BEST  risk management, BEST  trading systems, BEST  indicators to trade ?? Read on.

Psychological aspect maybe why most beginners and even seasoned traders find it irrelevant or having just small part to play in becoming a successful trader. Contrary to what most or majority people think, you should think other, well hey most winners in the futures market are minority. I strongly believe that personal traits was the main barrier for any traders to be successful and also the main drive for a successful traders. If success is a habit, I cannot say enough how closely success is related with a personal traits. It is where the most problems or mistakes made in the market start with the traders mind themselves, it is also where most of the great thoughts, wonderful ideas and winning trades are made from. It is crucial to know yourself, what is your distinguishing quality or unique characteristic that you want to portray yourself in the market. In other words, what types of trader you want to become in the market before you can start thinking of other aspects in trading. And at the end of the day, if you find just impossible for you to adapt and make a change, there is nothing wrong by walking away and leave this ventures because trading futures market is not suitable for everyone. Trading in futures contract involve big risk, and you can only land the "kill" if you have the knowledge and skills. 

 Specialization was my second favourite aspect when it comes to answer "how to be successful trading in the market." How so ?? 
 To become successful, you need to be good, and you can only be good if you specialize. Yes, specialize, focus, technical, details, probe, practise make perfect, that are all the keywords. Just like all the world class sports men and women, they are focus, practise day in and day out, determination and eventually become good years after that. And how many sports or types of game they performed or played in their career ? The answer is ONE. 
Fine example: 
Fact 1: Serena Williams is a multi times no.1women tennis player in the world. True
Fact 2: Serena Williams is a multi times no.1women tennis player in the world and no.1 women footballer as well. False.
So, how many trading instruments or market you need to specialize or good at. The answer is you can specialize in every market, locally or foreign, commodities, index futures, bonds and currencies but you only need one market to be successful and make a living from it. ONE is enough !!!  

These would be the core or the center of mass on most successful traders have it. Both knowledge and skills work hand in hand when you are trading in the market. In trading, knowledge was more of a passive aspect in the game because it is norm or something you heard about somewhere (reading, studying, and even watching movies), some time ago (last year, weeks ago, or even seconds just now). Knowledge is used in so many times and you would not notice it as it has become a norm or a habit, such as technical analysis or market fundamental knowledge. Unfortunately, you would not go far trading in financial market even you are equipped with vast knowledge, surviving in past paced financial market also require skills.
Skills are something you are actively performing in the market and you noticed it most of the time. In order to have good skills in trading the market, traders need to understand how every trading tools works, how technology works, how specialize you are trading in that particular market and so on. Skills involve vastly in getting things to works and what's not. When your sub-concious minds or knowledge kicks in, you need skills to perform what does your brain tells you to do based on the information you posses at that time. Trailing profit, positions entry and exit, pyramid positions, placing stop loss, anticipating where is the next pivot points, drawing trend line and so forth requires skills to perform. For more knowledge and skills, you will need to go back to SCHOOL.
Eventually, the BEST system will appear when the sub-concious / knowledge and concious mind / skills work hand in hand together.


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