If we want to be successful as traders it is crucial that we have great filters. We must filter out all the noise that separates us from the actual price action. In the end it is just us versus the market. We need to seek to learn how to trade from others and not look for trades. We have to play a lone hand because we have our own tolerance for pain, our own goals, and we should have our own trading plan with a robust methodology. Others do not know our time frame and we do not know theirs. Their position sizing may be ten times what ours is.
Before we trade we should have a watch list, a risk percent per trade, a methodology, and a trading plan. We should be running our trading like a business not a casino. Information and opinions can bias our trading. Be very careful about the information that you let into your mind. You should attempt to trade as close to your system and methodology as possible without allowing anyone’s opinions our thoughts to come between you and the charts. Actual price action is the king everyone’s opinions are just that, opinions.
It is dangerous to be a trader and not know who you are. If you know your risk, your methodology, and your trading plan then there is nothing to do but work on mastering that plan. if you do not know who you are as a trader you will run around asking for opinions and predictions about what will happen. Since no one has a crystal ball they are just making projections based on there own methods. Why go fishing for some one else’s method when you can have your own?
Trader know thyself, know thy plan, and trade it.