In trading a number of different understandings help a trader become successful.
My experience is that most new traders underestimate the practice and repetition that it takes to fully integrate an understanding with the practice of trading. I have heard alot of stories and seen traders go through only a couple of weeks or no practice with their tools and start trading and promptly empty their account.
I have also talked with a number of traders who have spent years paper trading and developing their strategies without ever trading real time, or without finding a way to speed up the process. If a plane was in danger of running out of jet fuel before take off, possibly the pilot has been on too long a runway.
My solution to this is to drill and practice intensively, until the actions and recognition and understanding of the trading system are fully understood so as to be automatic. What has been in most cases overanalyzed and excused as emotional trading really usually is a failure to have a fully understood and practiced trading plan in the first place.
Further I would suggest that it is really not possible to fully understand a plan without practicing its execution in strenuous conditions, and repeatedly - until that execution is flawless. Most traders I have been associated with seem to think it could be a good idea to practice, then either practice on runway of simulated live trading, waiting endless hours for something to happen, and never really fully doing all the simulations possible, or they do a few orientation type exercises such as pushing buy and sell buttons, and leave it to that.
A professional does everything that is necessary to bring up his understanding and skill.
