TRADING

• Judge ourselves by "doing the right thing".
• Force ourselves to make every trade we should.
• Don't listen to others.

CONCEPTS

• Trend (Price direction implies price direction).
• Courageous with profits.
• Cowardly with losses.
• It's not how right or how wrong you are that matters in trading, but how much money you make when right and how much you do not lose when wrong.

PREPARATION

• We always know in advance how much we are going to risk on any trade, before we even take the trade.
• We can choose the size, place and direction of the battles, but not necessarily the timing.
• We are always prepared; on occasion, we are even right.
• It wasn't raining when Noah started to build his ark.

TECHNIQUE

• We never add to losing positions.
• We stress capital preservation while allowing profits to run.
• We get into sustainable trends before they become recognized as such.
• We use models to sift through all the market noise to identify and prioritize asymmetric risk/reward opportunities.
• We place the "biggest" exploratory stakes on the "best" trades at the "correct" time.