If you truly want to make a living from trading, I suggest you seriously answer the following ten questions.
First:
How much money do I actually want to make?
Second:
Can my principal support this goal?
Third:
What is the maximum drawdown I can tolerate?
Fourth:
After I lose ten times in a row, will it change the system?
Fifth:
Do I prefer the excitement of short-term trades, or long-term compounding?
Sixth:
How much time am I willing to spend trading each day?
Seventh:
Am I really better at trends, ranging/sideways markets, or event-driven trading?
Eighth:
When I lose money, do I stay calm and analyze, or do I rush to get it back?
Ninth:
When other people are making money, can I resist the urge to chase?
Tenth:
If I haven’t made any money in the next six months, can I still continue executing the system?
If you can’t answer all ten of these questions, then what you may be missing isn’t a better, more powerful indicator.
It’s simply:
You don’t understand yourself well enough.