10% Skill 90% Mindset

Eryk Martin

Recruit
Messages
177
I think it's not necessary to try and quantify this. The key is that both of these are very important, and how much you have to focus on each might depend on your personality and preexisting skills. In other words, the difficulty of mastering the technical side and the mental side will vary from person to person. You just have to be self-aware and notice if one of them need more work.
Perfect! That's a much better way for explaining this
 

fxoday

Recruit
Messages
583
Yes I think both are important, skill and mindset or psychology trading, like as person learn how to drive the car, they need knowledge, and this associated with skills, strong mental is not enough without drive good skill, it's possible faced with an accident, collision, etc.
 

Pelvell

Private
Messages
39
I disagree with the proportion. I still think that the skill is more important than mindset, so, my variant of proportion is 70% skill and 30% mindset. However, it depends on the style of trading, I believe. Perhaps, scalpers have different opoinion on the proportion. However, I totally agree that along with skills, psychological factor plays a really important role and traders should never forget about it.
 

Anakelv

Private
Messages
35
I think that 30% of skill and 70% your mindset and emotions control. Anyway you have to gain lots of skill before you can master emotions control. Otherwise, your emotions control makes no sense if you didn't study learning materials properly. You will lose every time just because of lack of knwoledge in trading. So, I guess that novices should study both emotions control and learning in the same time just becaue it will ease your trading activity. I believe that it can be studied in a good proportion, for example two hours a day you study various learning content, two or three housr a dy you study psychology of trading.
 

Etedus12

Recruit
Messages
203
Well, this proportion is overexaggerated, I guess. Mindset is crucial, skills are also important. I think that the right proportion would be 40% knowledge and skills, 60% psychology.
 

Diogo Ribeiro

Recruit
Messages
1
I doubt that the ratio of skills and mindset really looks like this. I feel that knowledge and skills are very important in trading. Surely, we shouldn't underrate the importance of psychological factors which influence a trader's decision, but if a trader knows nothing, he doesn't have any chances of being a success even if his temper is suitable for trading.
 

FriendlyFX

Sergeant
Messages
161
I would say it's 30% skill and 70% mindset .
The phscology if trading is the hardest part to master .
Also trusting your analysis even when you've made the same traders many times before
 
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