BO36: The Time It Takes To Stick With Your Rules

Top Traders Unplugged

Niels Kaastrup-Larsen

Business, Business News, Investing, News

4.8 • 670 Ratings

🗓️ 16 March 2020

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today we discuss a listener question, regarding the usual time it takes before being able to follow a Trading System religiously.

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Transcript

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0:00.0	Previously, he has one question.
0:04.0	He says, how long did it take before you stopped modifying and religiously follow your system?
0:10.0	So maybe I'll start with you, Moritz, on this one first, and what say you to that question?
0:20.0	Great question.
0:22.7	It is a great question, yeah.
0:25.9	Religiously following the system, that is the goal.
0:30.5	It's like being under oath now, isn't it?
0:32.2	Exactly.
0:32.8	So it's been quite a long time for me that I've disregarded a signal or trade.
0:45.3	So that's, I think, is good news.
0:47.0	It's good news for me.
0:48.1	So tap myself on the shoulder for that.
0:51.1	But I definitely cannot say that it's always been like that so um
0:55.5	definitely had episodes where i tried to uh second guess a trade or signal and and not take it or
1:04.4	take it in a different way and um you know maybe that maybe 10 to 20 percent of the time that was the right decision to do and
1:11.9	80% of the time, it's definitely been the wrong thing to do.
1:15.4	So getting to the point where kind of like you switch off the brains, stop thinking and
1:21.3	just follow the system.
1:23.6	I think this sounds hard, but that's how it should be.
1:30.3	And getting better at that, and like I said, haven't really overwritten a signal in a very,
1:37.3	very long time now.
1:38.3	Now, as far as not modifying the rules.
	...

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