The truthful answer to that question is,
I don’t know.
I started “ShortMeTina.com” because of my own personal story with a subscription service. Without going into tons and tons of detail, when I started out many years ago in the stock market; I subscribed to a service that in my humble opinion, “sold me a bridge”.
Because I was new to the trading world, I was an easy target and believed just about anything I was told. This complete trust in “my guru”, along with my naivety, contributed to a loss of tons of money.
This list by no means, is an end all, be all but I got to thinking and wondered; is there something successful traders share in common? While I don't know every single successful trader to compile an "error proof" list; I can't imagine being a successful trader without the attributes listed below.
An ability to recover from or adjust easily to misfortune or change.
You will be tested time and time again in the markets. You will get knocked down quite often and for extended periods of time. Your ability to bounce back or to be resilient will determine your level of success in the markets
This is as idiosyncratic to the individual as I suspect their trading style is. Knowing when to sell isn’t an easy task.
I try my best to simplify my life and tend to lean towards “half and quarter moves”. This is entirely for profitable trades.
What I do to manage an anticipated loss is discussed in “How I Manage Losses”.
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