Trades won’t always be available: knowing when to stay out of the market.
EDGE: Sometimes there isn’t anything on watch, other times you can have 10 tickers on your watchlist but enter none because it doesn’t fit your edge. Your Edge. The market isn’t going to go the way YOU want it. You just need to sit back and trade your plan.
PSY: We have to make clear decisions based on our current mindset, trading capital and mental capital. Am I in a current drawdown or winning streak?
RISK: sitting on your hands can save you money. Making small shifts like using limit orders instead of market orders.
Sense of intuition when making decisions. This can happen for a small percentage of trades. For example, I was in a trade and saw that price action was forming a “top”. I took my profits and exited positions. The next morning, the price dropped. I can’t say it was a complete win and followed my rules. It comes with experience and time. It’s like that gut feeling.