Your Edge Flashcards
How do you get an edge
By creating rules based system
Running system over a large enough sample size for edge to show
Know that trading is a numbers game
Applying the rules you make
Journaling about what worked and didn’t work
Objectively observe your thoughts words and deeds
Make changes
Rinse and repeat
Until you find a probability in your favor
3 Types of Phases necessary to develop a trader mindset
1 Mechanical stage
Build the self trust necessary to operate in an unlimited environment
Learn to flawlessly execute trading systems
Train your mind to think in probabilities
Create strong unshakable beliefs in your consistency as a trader
2 Subjective trade
Use what you learned about the nature of the market to make decisions
Lots of trading freedom
Most traders here and stay here
Statistical relevance necessary
3 intuitive stage
Most advanced stage
Spontaneous trading
Difficult to master
Rational mind overrides reasoning
Your edge will seperate you from what everyone else is doing
If you do what everyone else does you will get the same results as everyone else
