Trading Definition

My favorite definition of trading is from Paul Lange:

Trading is "Using technical analysis to find a moment in time when the odds are in your favor. Then trading becomes a matter of your entry and management."

In other words, it is having the KNOWLEDGE to know when the odds are in your favor, having the PATIENCE to wait for that moment, and then having the DISCIPLINE to handle the trade properly when it goes in your favor and properly when it goes against you.

What many new traders don't understand (me included) is that it takes years of experience to be able to edit out the noise so that those points of entry become so BOLD that it's like seeing entry signals in color when everything else is black and white. There are plenty of "gray" entries that sometimes work, but more often then not I pass on those and wait patiently for the "Color" signals. When "Color" signals appear I KNOW that the odds are in my favor.

Improved performance will likely be found by understanding the above definition and putting in thousands of hours practicing. Yes, thousands of hours.