Thread by @EmperorBTC

CHANGE, EVOLVE, EVERYDAY or DIE.

Why you must keep Evolving if you want to become a succeful Trader.

A Thread.

1. Using tools won't make you succeed.

Using the same tools and Indicators in the same manner as everyone else is, you won't succeed.

You need to find your own Edge. Your own secret.

Retail is behind for a simple reason, they use the common tools in common ways.

To reiterate, the common Indicators must be learnt thoroughly but using them in the common ways won't make you profitable in the long learn.

You must design your own weapons, your own Edge.

Find your Edge.

2. High Accuracy is a joke.

The most Profitable trader in this world Jim Simons has a hit rate of 47%.

The edge lies in

1. Managing risk and cursing losses when the trade goes wrong.

2. The win trades should be high probability, high confluence and Huge R:R.

If you make a lot of losing trades but cut the losses and manage risk, and your system allows for a huge Profit in the winning trades, you have an edge.

Risk Management in itself is not enough.
As Jack Schwager said, 'Can you win at Roulette by risk Management'?

Roulette is a bad R:R trade. A gamble and hence Risk Management won't save you.

You need an edge that noone else has, gives good entries when it runs and you need to projects its flaws via Risk Management.

Conclusion.

1. You need to find your own Edge. If you're using the same thing that everyone else is using, you don't have an edge.

2. Risk Management is not an edge but it's the only Thing that'll keep you alive.

Hope this was helpful and gives you a new perspective to successful trading.

You can find greater discussion for free here on my Telegram if you want to understand it in more detail.

All the Best.
t.me/EmperorbtcTA