Why You Need Objective Trade Setups and Rules

Hourglass
The future is something which everyone reaches at 60 minutes an hour, whatever he does, whoever he is.
— C.S. Lewis

Ever noticed how your 9 to 5 work week seems to move at a glacial pace, but weekends travel at warp speed?

Is there some cosmic gear mechanism that changes the pace at which time passes based on whether its the work week or the weekend?

In a word… no.

That undeniable difference you may have observed is more about your perception than about time being bent.  It is a truism that things eagerly anticipated seem to move toward you less quickly than things dreaded… in your head at least.

The same is true in your trading.  If you’re “looking for a trade,” you’ll find one.  If you limit your search to the well-tested, objective criteria under which you take trades, you will identify fewer trades, but they are much more likely to “act” right.

Don’t make the mistake of thinking discretionary trading is about “using the force.”  It is… for the BEST traders.  They have a “feel” for the market… but that is only because they are so experienced as to have made their trading setups and rules a part of their trading DNA.   They automatically act in their own best interest by managing and minimizing their risk FIRST and FOREMOST… and then maximizing any opportunities provided by the market.

You can get there… but until you do, follow your well-defined, written out trading plan, setups and rules.  Your account will be better for it.