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The Way to Trade: Discover Your Successful Trading Personality by John Piper

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Chapter 24: TRADING SYSTEMS AND WHEN TO USE THEM

Trading and living are action, not thought.

John Piper

There are a number of ways to use trading systems as follows:

  1. 100 per cent mechanically. This is tough and takes discipline, something most traders have problems with, I do myself. I know traders who claim to do well following this approach, but it is not my way.
  2. 0 per cent mechanically. This covers most traders who try out systems, drop them and go onto the next one. This technique is doomed to failure. You have got to become an expert in your chosen market specialty. One of the first steps is finding your specialty. This takes thought and introspection. It is no good acting like a pinball between many different techniques. It is a ...

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