Most important piece of the day trading puzzle

  • This topic has 7 replies, 1 voice, and was last updated 1 month ago by Christian Harris.
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  • #184777 Reply
    Eddie_405

      What is the single MOST IMPORTANT thing you need to do to day trade succesffuly for a living? If you had to boil it down to just one thing….

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      • #184781 Reply
        Robbo

          Risk management. Risk management. Risk management. It is by far and away the most important thing and too often I see it overlooked by newbie day traders.

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          • #184826 Reply
            Dav3y J0nes

              TOTALLY AGREE

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            • #184825 Reply
              Seb_2798

                100% you will not make it day trading if you do not make risk and money management a cornerstone of your approach.

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            • #184916 Reply
              Hank1031

                Networking with other traders has been invaluable for me. You can learn a lot from others traders’ ups and downs, experiences etc.

                I’ve learnt more from other traders than reading books or watching YouTube vids…

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                • #185028 Reply
                  Seb_2798

                    Yup I’ve found this too because you’re all going through it together.

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                • #184915 Reply
                  Steve

                    A robust day trading strategy is everything. You need a plan that you’ve tested and refined over a long time. Without that, you’re basically gambling which isn’t going to end well.

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                  • #189980 Reply
                    Christian Harris
                    Participant

                      Trade like a machine.

                      In other words, use a ‘mechanical trading strategy‘ that is 100% rule-based.

                      This type of trading approach relies on predefined criteria for making buy or sell decisions, which removes human emotion and discretion from trading.

                      Regardless of the specific rules you choose to follow—whether they’re based on technical indicators, price movements, volume, or other quantifiable factors—the key is that these rules dictate the exact timing and method of trade execution.

                      This emphasis on rules brings discipline and structure to your trading, helping to minimise emotional decision-making.

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