🛡️ Risk & psychology · Lesson 7/7
What a trader really needs: five things
Not a long list of rules — a method, discipline, experience, accepting losses, and the nerve to hold a big winner. · ⏱ 4 min
Many traders write a new rule after every loss — “take small profits”, then next time “let profits run”. Within months the rules contradict each other. In a 1986 special report, Elliott wave analyst Robert Prechter set aside such lists for five basic requirements. Here is how we read them for NEPSE:
1. A method
For learning only, not investment advice.