This video discusses the common similarities between those who have found success in trading and those who have not. The main differences include over leveraging, lack of risk management, no trading plan or edge, and most importantly, lacking a winning strategy. To find success, traders need to focus on the process, have proper risk management, a winning strategy, and document their mistakes. The video argues that having a technical edge and a winning formula is the most important part of trading, rather than just focusing on psychology.

The Common Mistakes and Similarities of Unsuccessful Traders

Over Leveraging and No Risk Management

No Trading Plan or Edge

Lack of Winning Strategy

The Winning Formula of Successful Traders

Focus on the Process

Proper Risk Management

Having a Winning Edge and Trading Plan

The Importance of Making Mistakes

The Most Important Part of Trading: Technical Edge

The Misconception of Psychology in Trading

Why Having a Winning Formula Trumps Psychology

The Importance of Building the Right Foundation First

Conclusion: Focus on the Fundamentals of Trading

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