Moving on to the 6th reflection of the series:
Read here: (Part 1) | (Part 2) | (Part 3) | (Part 4) | (Part 5)
26. Never get complacent.
A strategy that worked in one regime may stop working in
another. Trading is a craft that requires continuous self-
improvement.
27. Never ever average losers after your reasoning has been invalidated.
Never try to average down on losing trades once your original "
reasoning is no longer valid.
28. Never trade with certainty, trade with conviction.
Trade with confidence in your analysis and strategy. "
29. Never assume the market "must" do something, especially based on recent patterns.
The market doesn't owe you continuity or logic. Just because a "
market has been rising (or falling) steadily doesn't mean it
can't abruptly reverse. Avoid words like "surely" or "canʼt
possibly” in trading.
30. Never mistake win rate for everything.
Maximizing winning trades for the sake of feeling good is a
trap. Taking profits too early or avoiding necessary small
losses ultimately hurts profitability.
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