This applies to the trading plan as well. In order to have any chance of succeeding
and following a plan, you must cater it to fit your style. Simply put,
you will have trouble trading if you are going against your basic tendencies.
And no matter how good a plan it is, it will be hard to stick to if it is not
your own. What works for some just won’t work for others. People have
different time frames, risk parameters, disciplines, and styles. Some like
to go long all the time, some like going short, some like trading with the
trend and some look for reversals, and so on. If traders didn’t have different
styles, no one would ever be able to buy a stock as everyone else would
be trying to do so at the same time with no sellers in sight. Different styles
and thoughts are what make liquidity in trading possible. People can make
money regardless of what their style of trading is, just make sure you find
one that fits your makeup, if you want to succeed. As I write this book I’ll
do so in the style that works best for my character. Your job is to take my
concepts out of the book and then develop your own plans. Do not expect
to find the holy grail of trading in my words. Instead, you’ll find what I feel
comfortable with and what works for me, but keep in mind I may have a
higher risk tolerance than you do.
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