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Getting it down on `paper`

The 7 Principles of Consistency

  1. I objectively identify my edges.
  2. I predefine the risk of every trade.
  3. I completely accept risk or I am willing to let go of the trade.
  4. I act on my edges without reservation or hesitation.
  5. I pay myself as the market makes money available to me.
  6. I continually monitor my susceptibility for making errors.
  7. I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them.

Douglas, M. (2001). Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude. Prentice Hall Press

 

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