@markminervini There's some magic hiding in your strategy that's not in your post. I had a huge drawdown from low risk entries because I kept taking bad ones! Still not sure I've learned better.
@sarhangg@JLawStock True there's a line between cute accent and hard to understand. But this line is not universal. So a few people might struggle to understand. That's ok they can turn on subtitles.
@MarkRitchie_II Trumped is already in the dictionary... Meaning a play was made that beat all others... Which is why Donald Drumpf changed his name to Trump.
If you have the right mechanics, your trading becomes more resilient. 1 or 2 big winners can cover a choppy mess of a period.
For me it starts with Universe Definition. I learned how to do this best from @stamatoudism and Stan Weinstein, with major respect to William O'neil and John Murphy as well.
Once the right group of stocks is in play, the next most important element of my system is timeframe arbitrage, as taught by Brian Shannon @alphatrends. This allows me to skew R:R by having tight entries. It also lowers the 'threshold to outlier activation'. 30Rs requires a lower percentage increase in a stock when your risk is a fraction of that stock's ATR.
Managing trades can be a difficult part of the process, but between Marios' portfolio dynamics teachings and @Qullamaggie's insistence on respecting the 10 and 20, I've been able to reduce the number of decisions I have to make while owning a stock. This was also majorly bolstered by both of their stress on studying past winners.
Market awareness is particularly relevant to overtraders. SA has never been a science, more of an art. It now feels like a system 1 activity, I've learned to tune in to these signs from Marios, @Norseman1, @WalterDeemer, and @TaPlot, @PradeepBonde . With help from the useful information shared by @mark_ungewitter@WayneWhaley1136 and the @sentimentrader team.
And finally the gamblers psychology. We each have our weaknesses. I had to, and still have to, overcome mine. @AsymTrading got me thinking about this first, which led me down a path of trying to understand why we do what we do. 'Thinking in bets' by Annie Dukie was the most eye-opening for me. You have to be willing to take the next good bet, despite the outcome of the last good bet. 'The Marshmallow Test' by Walter Mischel helped me ensure my definition of good wasn't constantly shifting. Psychology isn't as important as foundation, but trusting and sticking to your foundation can depend on your psychology.
It's a journey, but with the right mechanics you can make the path shorter and easier. I genuinely feel a debt of gratitude to all those I tagged as they were the key pillars of my journey. Also, a special thanks to @RichardMoglen and the Traderlion team for providing inspiration through their interviews with top traders, and opportunities to learn with those top traders like Marios'. And another special thanks to @popularinvestor for introducing me to the game and helping me learn about market structure.