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Hi MACDoug, Mind-set and Money Management need to be omnipresent in your trading plan. The Method for me is still the most important because it is the method that will provide the backtest that leads to mind-set -- confidence, discipline patience etc, and the method will essentially determine money management also. if your exit is going to be the same or similiar circumstances which produced your entry that determines your risk, i.e. money mngmnt -- again all roads lead back to method. The biggest problem people have w/ mind-set is that they think "something will change in the market". If you have a mechanical system maybe that's a concern, but if you have a simple behavioral method such as trend lines breaks w/ the stop beyond last swing high/low you don't ever have to worry about market behavior changing -- certainly not in our life time.
Hi MACDoug, Mind-set and Money Management need to be omnipresent in your trading plan. The Method for me is still the most important because it is the method that will provide the backtest that leads to mind-set -- confidence, discipline patience etc, and the method will essentially determine money management also. if your exit is going to be the same or similiar circumstances which produced your entry that determines your risk, i.e. money mngmnt -- again all roads lead back to method. The biggest problem people have w/ mind-set is that they think "something will change in the market". If you have a mechanical system maybe that's a concern, but if you have a simple behavioral method such as trend lines breaks w/ the stop beyond last swing high/low you don't ever have to worry about market behavior changing -- certainly not in our life time.
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