Trading is ultimately a matter of probability. How to gain a probability advantage? First, ensure that your actions are consistent. Regardless of whether the previous trade was right or wrong, this trade must still be executed according to the original standard. Only by consistently executing the same standard over the long term can probability manifest. Having a probability advantage is one thing, but allowing that probability advantage to manifest is what makes money.
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Some people lack the insight to create rules with a probability advantage; some lack the character of loyalty, and even if they have created rules with a probability advantage, they cannot execute them. Even though they know they must execute, when the time comes, they start to be clever in the wrong way. Many traders fall victim to these two types. Investors should consider whether they are also such a person.
