When trading, one must understand that position management is more important than entry and exit points. Many people study various indicators, which is ultimately just about figuring out how to enter the market. In reality, this is not the core of trading; most strategies revolve around breakouts and finding support and resistance levels.

Many people also go to great lengths to study various tactics, but it's not as effective as steadily executing a single strategy for three months, where 20% of the market contributes to 80% of the profits.

In trading, one should not strive for perfection. A series of ten small losses is not frightening; catching a trend can lead to a turnaround. What is most concerning is fantasizing when one should cut losses and hesitating when one should hold onto profits.