Sunday, September 30, 2007

I'm a Consistent Profitable Trader because...

 

1) I objectively identify my edges

2) I predefine the risk of every trade

3) I completely accept the risk and/or I am willing to let go of the trade                                                                             

4)I continually monitor my susceptibility for making errors

 

I understand the absolute necessity of these principles of consistent success and therefore, I NEVER VIOLATE THEM!

 

I have this taped up onto the side of my monitor. I pulled it out of a book but I can't remember which one. Just some good words to follow and to live by as a trader.

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3 comments:

Anonymous said...

DO YOU REALLY NEVER VIOLATE THEM?

tradeswing said...

For the most part. I have some discipline problems with #1 but I follow the rest almost to a T.

Gator Trader said...

I believe this information from your post: "I'm a consistent profitable trader because...", came from the book by Mark Douglas - Trading in the Zone... just FYI.

I really like your blog-site!

Gator Trader