I know I’ve been a little contradictory about following a system and being
discretionary. I do believe you need a core system to point you in the right
direction, but you can actually make the trades using discretion as long as
you follow your rules, are consistent, and your trades are premeditated.
This may not apply to active day traders as they have to react quickly, but
even then, they should have recognizable patterns they see all the time that
they act upon. As I write this book, it will be geared more toward the trader
who uses discretion in his trades, as the purely systematic trader doesn’t
really need to follow a game plan as much because he is on autopilot. The
person who uses discretion in his trading really needs the guidance of a
game plan to keep him on track.
Once again, if you want to succeed, you will learn to make a game plan
everyday that employs your trading strategies and you will follow it.
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