Trader Quote #18Posted: September 24, 2012
Trader Quote #18
“Most traders take a good system and destroy it by trying to make it into a perfect system.” Unknown
==== This for all those who are looking for the illusion of the in-existent holy grail! This quote has very profound knowledge because it reveals a common and lethal problem among traders. Once a very successful trader told me how funny it is when you tell people exactly the “formula” to make a lot of money and they still do something completely different! Funny huh?
To be successful in this business, we base ourselves in Repetition, believe it or not. The big money does it all the time, they use the the same signals, setups, analysis and stick to it religiously, because it is functional. Now, i must agree that it took me a few years to test and experience different trading systems, but its something anyone must do, even in normal businesses.
Repetition is our “bread and butter” because “history doesn’t repeat itself, but it rhymes.” So when something is working for you, do Not be “creative” and start changing parameters and variables! Keep it Simple Stupid and follow what your trading plan and system tells what to do! This will highly improve your probabilities in the long run.
Ask yourself this question, “how will i trade today?” what would you reply?” If you reply, “it depends” you have a big structural problem! The correct answer is “how i always trade everyday/every time” why? because market conditions will always vary but your operational approach should always be consistent.
Stick to what works, repeat it, document it and do the same thing all over again! Dimitri Feria====
What do you think? when have you changed a good system to an unworkable system? any suggestion or tips to share?