I ask people who mention tweaking if they are happy with their current success. I ask if they can do it almost without thinking. If they say yes, I mention the baker. With a proven recipe and the ability to implement with perfection, she has found success. Traders should focus on consistently implementing their proven recipe and cease the search for additional methods.
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Trading Is Like Being A Great Baker
1.
2. I don’t bake. As a matter of fact, I
don’t eat baked goods except birthday
cake to help celebrate the day. My
family has a history of using the same
baker for our custom cakes since I can
remember. Every time we get one, the
quality and taste is just like it was
before.
3. She runs a great business and has
found success with a certain recipe. To
change it would surely impact her
business. Perhaps it may be a positive
impact however the chances are any
changes would see a drop in
customers.
4. I highly doubt she will change it as her
business is a success and she can
probably implement the recipe with
her eyes closed.
5. The amount of trading system jumpers
out there is immense. One tour of a
trading forum and you can see people
ditching their current method for the
next one. Regardless of the amount of
time they have traded it or the success
they have found, they jump.
6. There are others who are not as
drastic. While they have a positive
expectancy method, they still tweak
and add/subtract variable to their
plan. Maybe it is boredom or they
think the one tweak they make will
turn the method into a super method.
7. Consistency is the key to long term
success. Assuming your method has an
expectancy of success, why tweak?
Every single time you implement your
method according to your plan, you
build a neural pathway in your brain
that over time, can make
implementation a reflex.
8. Once you teak, you have to start over
again. That is assuming the tweak
actually benefits you and does not
take away from the overall expectancy.
9. Let’s look at it another way. If the
probability of Y happening when X
happens and you capitalize on it,
success can be yours provided other
variables such as risk control. are in
place. Why look for anything else?
People do though.
10. They look to add another level to “Y”
for reasons that really don’t make
sense. Now, the numbers game of
wins/losses has to start over from 0.
You had a track record with the
original method but now, with your
tweak, the past goes out the window
and you start over.
12. What we do know is how your
previous method may have been
turning into a reflex, you are now
starting over from square one.
Consistency in implementation has to,
once again, be something that you can
do. That, takes time.
13. I ask people who mention tweaking if
they are happy with their current
success. I ask if they can do it almost
without thinking. If they say yes, I
mention the baker.
14. With a proven recipe and the ability to
implement with perfection, she has
found success. Traders should focus on
consistently implementing their
proven recipe and cease the search for
additional methods. They should only
tweak after a thorough and
comprehensive testing phase.
15. The damage that can be done by
straying from your proven recipe can
sometimes be total account
devastation. Be the baker. Stay
consistent.