The goal of a successful trader is to make the best trades. Money is secondary.

Every winner needs to master three essential components of trading; a sound individual psychology, a logical trading system and good money management. These essentials are like three legs of a stool – remove one and the stool will fall, together with the person who sits on it.

Beginners focus on analysis, but professionals operate in a three dimensional space. They are aware of trading psychology their own feelings and the mass psychology of the markets.

Traders lose because the game is hard, or out of ignorance, or lack of discipline or because of both.