Sunday, March 13, 2011

Rigid in Rules, Flexible in Expectations

"We need to be rigid in our rules so that we gain a sense of self-trust that
can, and will always, protect us in an environment that has few, if any,
boundaries. We need to be flexible in our expectations so we can perceive,
with the greatest degree of clarity and objectivity, what the
market is communicating to us from its perspective.

At this point, it probably goes without saying that the typical trader does just the
opposite: He is flexible in his rules and rigid in his expectations.
Interestingly enough, the more rigid the expectation, the more he has
to either bend, violate, or break his rules in order to accommodate his
unwillingness to give up what he wants in favor of what the market is

- Mark Douglas

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