Thread by @TendexCapital

Since it's a slow day, I'm going to give away the secret principles to success in this #trading game (for free!):

(1) Act consistently - take trades for the same reason(s), manage under a consistent rubric, trade the same times/product(s) etc. This is probably the most... (1/5)

...underrated, difficult, and yet invaluable skill; the often unsaid truth is that it doesn't so much matter what you do in trading (i.e. strategy/mgt/tools/etc) as long as you execute it consistently & maintain discipline, particularly when parts (2) and (3) are aligned... (2/5)

(2) Skew R/R in your favor (>1) over your PROCESS - this is the heart of the "cut your losses short, let your winners run" truism and it's foundational; It's very difficult to be successful over time without skewing your R... and this is something you have control over. (3/5)

(3) Identify a Win Rate (roughly) that matches your psychological risk profile and functions realistically with your R factor (2) - a trader's win rate is inversely proportional to their R. You have less control over this metric, but developing a strategy that suits one's...(4/5)

...loss aversion & overall psychological temperament is important towards executing it consistently (see 1).

Do NOT underestimate the emotional roadblocks that hamper the application of these principles (simple, not easy) but at core this is what successful trading is about. (5)