The typical newbie is hungry for knowledge. We often think that it is because we do not know something , that is why we have not started to make the big bucks.
So we buy books, do tonnes of online research, watch all the videos on youtube etc etc….The trader often tries all the strategies he can find. From moving averages, to bollinger bands, to candlesticks, to technical analysis, to fundamental analysis, to news trading , to trading options, to trading currencies, to trading stocks , to switching timeframes….and the list goes on.
After losing a load of money doing all these, finally the trader learns that SIMPLICITY IS KEY….In the end it is only one or two strategies consistently applied that makes a professional trader money in the long run.
But it is almost as if we have to learn everything first before coming full circle to realising that we only need a few tools to succeed.
So depending on the trader it could take months to years to eventually find what works for you and when you do…..you’re well on the way to consistent profitability….