Weight of the Three Pillars of Successful Trading

I came across a lot of comments about weight of the three pillars (Money Management, Methodology and Psychology) in successful trading. Some people said 10% methodology, 20% money management and 70% psychology; some said 5% methodology, 10% money management and 85% psychology; etc. We will see all sort combinations. Nothing wrong because this is very subjective for individual.

I want to share my view. In my opinion, they are (almost) equally important. If I really want to put a weight, then can be 34% methodology, 34% money management and 32% psychology. Why do I put a little bit less weight for psychology?

Psychology is a glue that holds money management and methodology together. For argument sake, without money management and methodology, there would not be anything for psychology to glue. Psychology is important for survival and eventual success. However, it is all a matter of degree. If we get money management and methodology right in the first place, they will go a long way to making both our conscious and subconscious selves feel comfortable about trading. If our money management and methodology are not right, both will do everything in its power to stop us trading.


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