The investment genius Jesse Lauriston Livermore once stated, "An undisciplined investor will never succeed in the stock market." First, it’s important to highlight the tendency for change. Investors of this type often listen to others and frequently alter their trading methods. They fail to realize that effectively using a trading system requires time. If an investor does not stick to a system or trading method long enough, trying it for a few weeks and then abandoning it when it underperforms in certain market conditions, they end up searching for new methods and become trapped in a cycle of their own making.
Remember that no trading method works effectively in all market conditions. Our task is to persistently follow the method we choose with discipline, recognizing the market conditions in which our trading method may not work effectively, so we can mitigate and implement corrective measures. Don't be swayed by others; instead, "Follow your systems." Adhere to your own investment method, take notes, and draw lessons from each trade—"Why did I profit? What caused my losses?"—and from there, gather insights to improve future trading endeavors.
