Do you have and apply clear rules in your trading? This is the first thing I like to ask people who approach me seeking emotional insights or wanting to work together when their trading isn’t going well. Having clear rules is a key step if you want to achieve consistency and make a living from trading, because when traders lack them, their trading account is very close to reaching zero or going negative.
Regarding rules, two groups predominate:
1 – Those who don’t have them
2 – Those who have them but don’t apply them
The first group is the one that supposedly has everything in their head, but when it comes to trading, their internal enemies, led by Mr. Ego, shatter those supposed rules, causing all kinds of insecurities and doubts in their trading.
In contrast, the second group has them clearly written down, but sometimes they apply them and sometimes they don’t, so they will never be able to create the habit of executing them every day.
I discussed this topic in my regular Monday segment on Laura Blanco’s program, which airs on Capital Radio.
Here is the audio of my segment
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Thank you very much for your time.
