Every (real) trader knows that he needs a good set of simple trading rules. However, assuming he does indeed have them, following the rules is often the hardest part. As traders we often violate our rules, then have the temerity to wonder why our strategies fail us.
Whether the rule violation is
- moving a stop loss order,
- taking a trade outside your trading plan,
- trading against trend when your history shows that you trade better with the trend, or
- risking an inordinate amount on a single trade because “it simply can’t lose”
I suspect, given the fact that you’re reading this post, that you have some level of experience with this.
It’s not a stretch to say that the sooner you develop AND adhere to a good set of simple trading rules, the sooner you’ll achieve consistent profitability.
I say again…
...the sooner you develop AND adhere to a good set of simple trading rules, the sooner you’ll achieve consistent trading profitability.
In this post I want to dig a bit more deeply into that.
Click here to read the full post.