A trader is simply a glorified order placer.Peter Brandt
This note includes the following topics:
- Trading Manifesto
- Successful Trading
- Independent Trader
Trading Manifesto
- I shall only take a trade my STRATEGY tells me to
- I shall take every single trade my STRATEGY tells me to
- I shall stay in a trade as long as my STRATEGY tells me to
- I shall exit a position as soon as my STRATEGY tells me to
If you don’t follow this Trading Manifesto, you will lose your EDGE since your trade will be random.
Successful Trading
- Is having the discipline to follow your strategy
- Is NOT how much money you make
- Good Trade = Good Execution even if it does NOT make money (Followed Strategy Perfectly)
- Bad Trade = Bad Execution even if it made money (Did NOT follow Strategy)
Focus all your efforts on perfecting your EXECUTION. The money will follow automatically.
Independent Trader
As an independent trader that has a trading strategy with an EDGE, there is no point in
- Following other trader’s stock tip/chart in social media
- Paying for newsletters and chatrooms
- Self-sabotaging for missing a move
- Self-sabotaging for selling too early