The quote above is from Mike Bellafiore’s  The Playbook: An Inside Look at How to Think Like a Professional Trader.

Unfortunately, too few make it in the trading business, not for lack of desire or want for success, but for ignorance of what is necessary for success.  Successful trading is not about predicting the future but about managing it.

If you find that each day your time is consumed with searching for the next great indicator or a combination thereof or with the endless search for the best time frame to use, then you are trying to predict.  If, on the other hand, you focus on a specific, well-defined price pattern for entry and exit on a specific time frame, allowing the price to dictate your future action (win, lose, or draw) then you are managing the future.

The former is a “path to trading failure”; the latter the road to success.