Joe Ross posted a link on twitter with title ‘A simple Idea to improve your trading’. I thought it is a good reminder to all my readers here. And I certainly agree with the quote below, and being disciplined in trading methodology execution was and is the key of my consistency.
I feel certain that my discipline in executing each and every trade according to my trading methodology is the secret to my success. If you want to improve your trading, what you need to do is very simple. Before you enter any trade, imagine that you will have to explain this trade to a panel of your peers, by explaining to them the reason for your entry, your money, trade, and risk management guidelines, and why you exited the trade. Imagine having to explain why you chose this particular market and this particular time frame, along with how you set objectives for the trade, and how you determined where your initial protection would be. If you can truly do this, I strongly believe that you can be successful.
Yes this is indeed a very good method. I used it extensively back when I started day trading in 2004.
Since I learned the trading method of maoxian, I would imagine him looking over my shoulder and me having to justify why I did what I did. It works.
Before the discipline came, the methodology must be viable and profitable so the trader has faith in it. Its a chicken and egg situation.
Before the discipline came, the methodology must be viable and profitable so the trader has faith in it. Its a chicken and egg situation.
Yes this is indeed a very good method. I used it extensively back when I started day trading in 2004.
Since I learned the trading method of maoxian, I would imagine him looking over my shoulder and me having to justify why I did what I did. It works.