Quote of the Day: THE PAIN OF SELF DISCIPLINE WILL NEVER BE AS GREAT AS THE PAIN OF REGRET. -- Brett Steenbarger
How can traders achieve high levels of consistency?
The answer is by turning trading practices into trading rules. Rules are what turn best practices into habits--and habits are what give us consistency. Contrary to popular conception, discipline is not about forcing yourself to do the right thing. It's about turning right things into habit patterns.
It was a relatively calm week for me. The book still shown a lost of $1.7K but I closed some profitable positions in other time frames. It's a long process on the road of recovery. Insist on self discipline and rule based consistency is the only safe way to get there.
I participated in the Skype's KST group and learning some new strategies. However I didn't trade earning strangles with them. I am straying with my own trading products. It worked for me this time as part of self discipline. They took couple big losses.
My tasks of next week:
1. Continue to clarify my trading rules in indices trade.
2. Post my trades in the Yahoo KST group as part of self discipline and make my actions more accountable.
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