So ultimately getting the price direction right is the only way to profit.
When one says "Getting the price direction right is the only way to profit", he is correct... but a little misleading.
In the way that, when we take a trade we do NOT know the direction. Only when the trade finishes do we know whether we are right or wrong....
On the other hand, if one takes on a trade and claims to know the direction and depends on that knowledge then he is trading the wrong way...
There is a subtle difference between the two approaches, which may not mean a lot to the reader and it would appear to be a case of splitting hair. But, on a mental/psychological level it has a huge impact. I would go as far as saying that this is what differentiates successful traders from the the lot.