Success in the markets is all about having a system that consistently works and having enough confidence in it to work it consistently.Taking the expected gains from the probability profile that fits you best from lesson 1 and adding these simple tactics will help you improve upon the base wining percentage of that profile.
Adding in additional tactics and strategies we’ll teach in other lessons and in your live classes can further increase your trading edge and help you make your money work even harder for you. Approaching the markets in this structured fashion makes it easier to discover additional ways to improve your results as you analyze your trades. Following a system for getting into and out of your trades instead of just throwing money at the markets in a gambler style allows you to discover new ways to improve your results.
As you begin to implement these and other strategies, we urge you to remember that not every trade you make will be profitable. No system wins every time. Your success or failure is not determined by your profits or losses on any one position but on the cumulative wins and losses you experience over time.
Even Warren Buffet has losing positions or stocks that have come down off their recent highs. The markets don’t go up every day. So protect yourself from losses by exercising your stops, improve upon your base winning percentage by implementing some additional strategies and tactics, and let your profits run whenever possible.
Once you have reviewed these and the other tactics of your system, begin thinking about (and maybe start writing down) elements you want to include in your trading plan.
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