The optimization process is the same for everyone. We’re all finding ways to better predict trend direction, avoid missing out, and improve timing. Because we’re all working on the same problems, the optimal solutions are the same. The more time you spend optimizing your strategy, the more it will start to look like the strategies of those that are ahead of you in the development process. Once fully optimized, it will be virtually identical to the strategy of the top traders in the world.
I know that is common sense but most people trust popular conceptions over their own judgement. Some know and don’t want to accept it because they are lazy bums. If my saying that turns you off then good because you shouldn’t be wasting your time pursuing something you’re not going to put the full effort into. If, on the other hand, the truth inspires you, then you know what you need to do. This is the true psychological battle in this game. Believing that you can develop a fully optimized world class system and having the discipline to invest the time and effort. Every time I see aspiring traders talk about trading psychology its always performance and execution issues being discussed. Performance psychology is a discussion you must earn by conquering development psychology.
Its not about applying different strategies in different environments. Its about developing the best strategy you can, one that accounts for the variations of every single price attribute. Its possible.
Find Strategy > Discretionary Execution (Improvisations Based on New Information) = WRONG
Develop Strategy > Almost Trust > Discretionary Execution (Improvisations) = WRONG
Develop Strategy > Fully Trust > Execute = CORRECT
I’ve addressed these misconceptions in Discipline vs. Greed and Fear
John
We don’t count on luck.