October 14, 2018

The patterns don't make you a successful trader

The patterns themselves don't make you a successful trader. The moving average crossover doesn't make you a successful trader. The RSI, stochastic, ATR double-hitched backflip twist doesn't make you a successful trader. All these tools are just for your comfort – a way for you to feel in control and as such allow you to participate in the market. That's okay.

What makes you a successful trader is how much you win when you win and how much you lose when you lose. It won't matter what instrument you decide to use to trade. The same basic trading principle can be used in every market in the world – stocks, futures, commodities, ETF's and foreign exchange – and on every time frame from three-minute charts right through to weekly and monthly charts. The same expectancy will be required anywhere in order to be profitable.

Source: Successful stock trading by Nick Radge

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