Psychology and professional discipline

The habits that separate the amateur from the pro are not character traits: they are procedures, repeated until they become reflexes.

The five habits

• The scratch: if the thesis is invalidated before the stop (the wall gave way, the iceberg stopped reloading), you get out. No ego, no hope. The stop is the maximum limit, not the exit signal.
• No revenge trade: after a loss, you respect the process, you do not "make it back". The market does not know you lost, and it owes you nothing.
• A planned loss is not a mistake: it is the cost of doing business. The real mistake is not following your plan, whether the trade wins or loses.
• The trade journal: screenshot, context, thesis, execution, emotion, R obtained. Reread every week. Without a journal, you repeat your mistakes with a selective memory.