T2W Bot

Staff member
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‘The proper execution of your trades is one of the most fundamental components of becoming a successful trader and probably the most difficult to learn. Most traders find it is much easier to identify something in the market that represents an opportunity, than it is to act upon it.’
Mark Douglas

If we consider that the two key variables to achieving trading profitability are having a trading strategy with edge and a positive expectancy combined with the ability to consistently execute that strategy, then assuming a trader has the first one (and developing this is a primary concern) then it is the consistency of execution that becomes the key focus.




Trading Success Formula
Trading Strategy With Edge            +         Ability To Be Able To Execute It Consistently/Positive Expectancy




In my work with traders I have seen many traders who do not have the first ingredient in place and this is the primary cause of their lack of trading success and also the emotional...
Continue reading...
 
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new_trader

Legendary member
6,472 1,395

A very good article.

In summary, the goal of trading should perhaps be consistent high level execution (flawless execution) of the trading strategy, based on the presupposition that a positive expectancy trading strategy is in place.
Excellent advice.

Fear, anxiety and greed are all linked into a monetary focus and in many cases an underperformance as a trader.
Very true, as SOCRATES said: Being motivated by anything other than being right, absolutely right and then under strict self governance is a recipe for absolute disaster.
 
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Trade_Ideas

Junior member
26 0
Nice article with themes my firm and I turned into idea generation and risk management tools. The result are high probability trades using event-based backtesting of custom patterns. My firm's name is Trade-Ideas. Let's start a conversation that leads to a demonstration of just how on target your points in this article really are. Best, david (david 'at' trade-ideas.com)
 

Trade_Ideas

Junior member
26 0
Another note: you might like the 2x2 matrix we created to help explain our backtesting results and identify what a winning trading plan looks like: The 2 x 2 Decision Box for Determining a Good Trading System http://marketmovers.blogspot.com/2007/01/2-x-2-decision-box-for-determining.html
 

magten

Member
78 0
In reading the lives of great men, I found that the first victory they won was over themselves... self-discipline with all of them came first.
 

NVP

Legendary member
37,391 1,948
I met Steve at the Trading Expo over the weekend in London....it was a fascinating 4hr seminar and for me reinforces that the real holy grail is getting the mindset and psychology right.....

Getting the trading system and edge is actually simple in comparison to these skills....its a bit like buying the best Golf clubs in the world.........it still wont make you Tiger woods !

N
 

mpx

Newbie
3 0
Hey NVP, I live in Australia and Steve is my coach too. You know, even though he is classified as psychology coaching, apart from sorting out my head he has taught me more about excellence in trading than anyone else in my over 10 year career.
 
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