It's important to remember this: there's no need to waste years looking for a complex formula or the next holy grail. Very simple formula is available, ready for you to use. Some of the best traders I know have been trading the same formula, using the same time frame, focusing on the same market, sticking with it for 20 years. They don't care about anything else, and they don't want to know anything else.
The One
Once traders learn to believe in themselves, they can free their minds to focus on the market opportunities before them, instead of being completely immersed in a state of fear, discouragement and doubt. By this time, traders have shifted, jumped out of the first three stages and started to really have a chance to make a living by trading. The shift involves focusing on developing their own trading skills, rather than focusing on money. These skills are easy to master and require keeping things under control and following the discipline of the formula.
Most trades involve waiting. First, it involves waiting for a formula. Once a formula appears, professional traders do not hesitate to act. The trick is to wait for it to develop and not to give in to impulse trading. Then, once in a formula, traders must be disciplined to wait for the exit parameters to be knocked down, rather than give up and give up prematurely.
Also, it is important for professional traders to recognize that they are not involved in every market, and that it is important to realize this. It is also important to understand that it is impossible to capture every market without joining and leaving the market without joining. It is impossible to capture every market because chasing every market is the mark of the amateur, which is why it is necessary for traders to establish a set of guidelines that include entry and exit to comply with, rather than relying on their own instincts to manage positions.
For me, the biggest change in my trading occurred when I learned to ignore my mind and focus on only a few good formulas. After learning the formulas, the next challenge was to be disciplined to execute them in the same way each time. Without thinking, without hesitation. I did this by recording my trading actions and scoring for each formulation I executed, rather than seeing how much money I made or lost. Focusing on profit and loss settlement alone helped to destroy the habits of bad traders, promoting good habits based on multiple formulas that can push traders into the realm of stable profits.
Finally, professional traders focus on limiting risk and protecting capital. Amateur traders are concerned with how much money they can make per trade. Professional traders always steal money from amateurs. As soon as they stop looking for the next great technical indicator, amateur traders start to become professional traders, and they start to control their losses per trade.