This Article is Written by Norman Hallett From the Disciplined Trader. If you click through on Normans link
he is giving away a free trading guide.
What would you rather have the perfect trading system or the perfect
Don’t answer that out loud!
I would venture to say that most traders are so ³into² their trading
that they would hesitate and ponder that question.
By the way, the answer is the perfect soul-mate. That¹s because there
is no perfect trading system.
The perfect trading system is the right system for YOU.
Are you the Impatient Type?
Let me stress here that by impatient, I mean that you don¹t like the
notion of waiting more than, say, a day, to see your trade results.
You use logic like ³I don¹t like to stay in a trade overnight, because
that¹s where the risk is… anything can happen in these crazy times.²
³My signals are just as valid with a 60 second chart as they are with
a weekly chart and I¹d rather be able to keep adjusting.²
These things that you say to yourself (valid or not) come from your
inner-self trying to move you to comfort.
Are you the Position-Trade Type?
You say, ³The market can be controlled short-term, but eventually the
fundamentals come home to roost.² Or…
³I¹m not looking to eat up my capital in transactional costs. As far
as I¹m concerned, the trend is your friend and I¹ll stick with a
Are you the Where The Action Is Type?
You tend to think, ³A signal is a signal, whether it¹s on a 2-minute
chart or a monthly. When my signal sets up, I GO!² You add, ³Sometimes
I don¹t even know which (stock/commodity/currency) I¹m looking at.²
³That really doesn¹t matter to me. I just care about the technical pattern.²
I won¹t bore you with more types, because they are unlimited. In my
coaching of traders for years, these above types were the predominant
There is no right and wrong type.
There is only assessing which type you are comfortable with perceiving
yourself as and then committing to a trading system that reflects that
There are plenty of winning trading systems, of all types, that can be
very successful. The best way to have a good system work for you is if
you can follow its signals without hesitation.
You are more likely to follow your trading signals if the system
³agrees with you.² Now look inside yourself. Then commit to following
what your tested system tells you to do!
You must win the BATTLE WITHIN YOURSELF first, before you can win in
Latest posts by casey (see all)
- Forex Power Indicator Training - February 2, 2018
- How to find the Right Currency Pair to Match Your Trading Strategy - January 12, 2018
- Using a Forex Checklist to Develop a Good Trading Habit - January 11, 2018
Winner’s Edge Trading, as seen on: