Throughout my 37 years trading, I have seen hundreds of traders come and go. Many have been my friends.
Often traders have success for months, or even years, because they found a setup – a tactic that worked. When the market no longer rewarded their tactic, they were at a loss for how to evolve to something that would work.
In order to achieve lasting success in trading, you must have a theory of trading that defines the market action you intend to exploit and sets out the basic rules for your trading. This theoretical foundation allows traders to advance in their trading as the market evolves.
I recently gave a webinar sponsored by Mirus Futures and Zen-Fire titled “My Theory of Trading”.
In the webinar, I address the need for every serious trader to have his own theory of trading. I present the details of my personal theory to show what a workmanlike theory should be and as a starting point for traders in designing their own theory.
You can see the webinar by clicking here.
