Principle based trading might be boring but could be lucrative
Presumably you are in the market to make money, and not for excitement. Once you have set your trading rules based on winning strategies, you repeat them again and again, whether with good trading days or bad, you repeat applying the trading rules. The process could feel boring, same thing all the time:
- Pin point the setups;
- See the risk/reward;
- Place the trade;
- Put in the stop;
- When things are going right, moving the stop based on market support levels;
- When the end of the trade is signaled, get out.
Here is an excerpt from last Thursday’s webinar with Ron, which is especially relevant during the low vol summer days we’re seeing
Larry Hite shared similar feeling in the first Market Wizards book by Jack Schwager: “I have a friend who went broke trading futures. He can’t understand how I can’t trade by following a computerized trading system religiously. We were playing tennis one day and he asked me, ‘Larry, how can you trade the way you do; isn’t it boring?’ I told him, ‘I don’t trade for excitement; I trade to win.’ It may be very dull, but it is also very lucrative. When I get together with other traders, and they start exchanging war stories about different trades, I have nothing to say. To me, all our trades are the same.”
AbleTrend is a principle based trading software which received Reader’s Choice Award from S&C magazine for more than 19 years. Summer is the perfect time to get prepared for the huge opportunities in today’s chaotic global market. AbleTrend is designed for investors and traders to take advantages of volatile market. If you’re not using AbleTrend already, the special Summer sale is on and will end on July 31. The 30-day trial is now $99 instead of $199. Take advantage of time-limited offer now.
With Warm Regards,
Grace Wang