# What is the single most important element in trading?



## darvasboxes (5 May 2005)

Please vote!


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## wayneL (5 May 2005)

Turning a profit?


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## DTM (5 May 2005)

Turning a profit would be the most important aspect.    

Picking the right stocks in my opinion would be the 2nd most important factor.


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## tech/a (5 May 2005)

Capital.

Like to see you turn a profit without it!!

*So none of the above*


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## doctorj (5 May 2005)

I voted for mindset as its generally the driver for people to be drawn into making mistakes in the other areas.

It's also the first thing and the last thing that influences trading decisions.  It's also something no book can tell you how to prepare for.


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## phoenixrising (6 May 2005)

A very good trading plan and sticking to it.


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## tech/a (6 May 2005)

tech/a said:
			
		

> Capital.
> 
> Like to see you turn a profit without it!!
> 
> *So none of the above*





Perhaps I should have frased that.
"Protection of capital"

The other selections are all necessary components of successful trading but not in my veiw the sole most important issue more combinations of to gain a profit and protect capital.


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## Jesse Livermore (6 May 2005)

Trading is 80% Psychological, and 20% Mehanical (Analysis and Management).

You can have the best analysis and management strategy there is, but if your'e not thinking properly it all goes out the window!


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## Jesse Livermore (6 May 2005)

Knowing the results (knowing your desired result will give you focus) you want and your reasons (purpose will drive you) for trading are important, as well as having a *WRITTEN TRADING PLAN!*


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## darvasboxes (9 June 2005)

Just thought it might be interesting to have a poll on the subject....


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## rozella (9 June 2005)

If you include discipline in "Psychology/Proper Mindset" that has my vote.
Although it must go in hand with "money management etc"


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## Mofra (9 June 2005)

Would have been interesting to see a "learning from mistakes" section, although it could perhaps fit into the mindset area


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## wayneL (9 June 2005)

Profit?:batman:


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## ob1kenobi (9 June 2005)

Research and the development of a strategy that helps you achieve your goals. Profit obviously helps!


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## son of baglimit (10 June 2005)

clearly the options open for selection are quite similar to those open to anyone deciding whats the most important thing re:sex - 

1. having the 'proper' mindset.
2. selecting the right 'target'.
3. everyone says size is important.
4. entry techniques.
5. exiting can be VERY important.
6. luck - well it rhymes with ....

personally while you are young i feel its important to be a day trader, even if your bids arent accepted. but once into your more senior years, you need to rely on 'guaranteed returns', with some 'specking'.


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## excalibur (10 June 2005)

INSTINCT


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## Milk Man (10 June 2005)

excalibur said:
			
		

> INSTINCT




extremely dangerous trusting your capital to 'instinct' IMO  
you don't have a working crystal ball there do you?    

possible to use instinct when you've exhausted all other analysis options and still have too many oppurtunities IMO


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## excalibur (11 June 2005)

loakglen said:
			
		

> extremely dangerous trusting your capital to 'instinct' IMO
> you don't have a working crystal ball there do you?
> 
> possible to use instinct when you've exhausted all other analysis options and still have too many oppurtunities IMO




The question was: what is the single most important and not the only important. 
If your interested knowing more: check following thread:

https://www.aussiestockforums.com/forums/showthread.php?t=1371


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## RichKid (11 June 2005)

excalibur said:
			
		

> The question was: what is the single most important and not the only important.
> If your interested knowing more: check following thread:
> 
> https://www.aussiestockforums.com/forums/showthread.php?t=1371



I think that's imortant to remember, having everytning in place, not just some single aspect of your plan that your preoccupied with (eg like winning percentage). It might also be in what you wear: https://www.aussiestockforums.com/forums/showthread.php?t=1460&page=2


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## brerwallabi (12 June 2005)

Dont lose


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