Impulsive trading, 2

...cont'd discussion about impulsive trading...

Clarify exactly what patterns you are want to authorized yourself to trade. Write it down on a piece of paper. Scrutinize your written description. Clarify subjective descriptions (such as what you mean by “large” or by “small” using quantified measurement units). Edit and re-edit your written description to make it more and more specific with each draft until you can’t get any more specific.

Your final version should be a description that anyone can follow consistently every time. That way you’ll know when you are about to trade impulsively. The basis of decision is this: anything that is not as described in your written description is an impulsive trade.

...cont'd tomorrow...

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