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.
3 comments:
DO YOU REALLY NEVER VIOLATE THEM?
For the most part. I have some discipline problems with #1 but I follow the rest almost to a T.
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
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