Based on my own experience as well as working with hundreds of traders over the last few years, I have come to the conclusion that there are three major components to making money consistently in the markets. They are:
1) A solid, back-tested Methodology that the trader has confidence will provide an Edge
2) A customized trading Plan that is objective and in alignment with the Edge (and not the guitarist)
3) An Positive, Realistic, and Fearless Mental Approach
All 3 are critical. If you just have one, or two, you will not gain the consistency you are looking for. The key point is that all 3 are not on the same ‘level’, if you will, for lack of a better term. Let me explain. Continue reading ‘3 Critical Elements for Trading and Investing Success’ »