The Greatest Trading Secret Ever Told

[TopstepTrader 10]

Successful traders have learned that the most valuable and difficult skill to develop is the ability to wait for the market to align with their trading strategies. This ability is developed by placing ourselves in a process empowering us to gain a more complete understanding for the work that needs to be done, why we are doing it, and how best to support our efforts every day. This is the level of commitment needed to become aware of the subtleties making the difference between success and failure.

 

The process of a successful trader ensures they only participate in the market when they are certain of market state, confident in their strategy, and committed to waiting for market alignment. In other words they know precisely what they want to do, why they want to do it, and how they are going to do it. They are waiting for the market to tell them when they can do it. Deep connections to their trading activities at functional, psychological, and practical levels make this possible.

 

The first essential step required to build your process is to identify your core beliefs and detail why they best support your development and performance.

 

Trade well,

 

Ray Burchett

[TheNegotiator 13]

Very true TST however, I believe that the problem is a little farther upstream. Far too many traders do not have a thorough plan (a simple outline at best) for how they will trade and without this, they don't know whether conditions are ripe for their method to be profitable. If they really know what to look for in the market and understand what type of market suits this sort of trade (and have a way of framing market type) the waiting to take a trade becomes far more natural imho.

[Colonel B 10]

Successful traders have learned that the most valuable and difficult skill to develop is the ability to wait for the market to align with their trading strategies.

 

Yep totally agree. Everyone bleeds. There are times where the last trade effects or bleeds into the next trade.

 

 

The first essential step required to build your process is to identify your core beliefs and detail why they best support your development and performance.

 

Nope totally disagree. Your first step is to make sure you have a mentor that trades and will be honest with you. That way they can help support your development and performance. Chances are if you are doing it on your own you don't know what to look for and what you consider a strength can and often times be a huge weakness.

 

Im not sure how anything so far reveals "The Greatest Trading Secret EVER Told." But hey it got my attention.

[equtrader 10]

Successful traders have learned that the most valuable and difficult skill to develop is the ability to wait for the market to align with their trading strategies. This ability is developed by placing ourselves in a process empowering us to gain a more complete understanding for the work that needs to be done, why we are doing it, and how best to support our efforts every day. This is the level of commitment needed to become aware of the subtleties making the difference between success and failure.

 

The process of a successful trader ensures they only participate in the market when they are certain of market state, confident in their strategy, and committed to waiting for market alignment. In other words they know precisely what they want to do, why they want to do it, and how they are going to do it. They are waiting for the market to tell them when they can do it. Deep connections to their trading activities at functional, psychological, and practical levels make this possible.

 

The first essential step required to build your process is to identify your core beliefs and detail why they best support your development and performance.

 

Trade well,

 

Ray Burchett

 

Good thinking. As Jim Rogers has put it one has to wait when there is "money in the corner, just waiting to be picked up."

[bj139 10]

"It never was my trading that made me the big money. It was my waiting, sitting tight. It is no secret to be right on the market. Traders who can both be right and sit tight are rare."

J. Livermore

 

This may not be the exact quote but is close enough.

[equtrader 10]

"It never was my trading that made me the big money. It was my waiting, sitting tight. It is no secret to be right on the market. Traders who can both be right and sit tight are rare."

J. Livermore

 

This may not be the exact quote but is close enough.

 

So true. Knowing when to stay out is as important as knowing when to get in and maybe more.

[DbPhoenix 42]

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Never be in a hurry to do something stupid. (Lee Richartz)

[trader447 10]

Hi there,

 

Good article there, You really understand what's at stake here. Though I have found that nothing is certain in the markets, anything can happen. I have found that if you can flawlessly execute your trading system with absolutely no internal conflict at all, time after time after time, then you have a shot at making it in this game. Anyway, good article.

 

Regards.