“How a trade is implemented is more important than the trade idea itself” – Colm O’shea, Market Wizard.
Too many aspiring traders search for a “one size fits all” solution. Typically, aspiring traders think that there is a “best way” to be consistently profitable in the markets; they think that there is a “best way” to enter, manage and exit positions, and a “best way” to establish risk limits.
Unfortunately, nothing could be further from the truth. There are actually many different profitable ways to approach the markets, each with their own objectives. Note the keyword: Objectives.
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“An investor without investment objectives is like a traveller without a destination”. – Ralph Seger.
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