By far, the most important skill you can develop as a trader is understanding the market modalities. This refers to being able to recognize whether or not the market is trending. If it is, there is lot of opportunity.
Don't say: “I know all that”. The truth is that most traders know that, yet over 90% lose money consistently.
Why?
It's because they don't have a well-defined method for determining the market modality and sticking to it
“The secret ingredient is you.”
- Kung Fu Panda
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