DislikedHey Chicky, nice journal you have here, I've been enjoying reading your reflections.
You bring up a lot of interesting issues. There is a lot of discussion and debate about how much of a trade should be "objective" and how much the trader can or should step in to violate his own rules when he sees fit.
I think a trader's ability to excercise his own discretion when in the midst of a live trade is important. But this discretion can be based on something true- like a simple recognition that you've got the wrong take on a particular situation-so...Ignored
This is what I am still debating. I enter a trade, then situation changes (not my thinking but the real factors). Should I get out? Prudence says: "WTF you would wait for?" My system says: "Probable outcome is my life. Why do you want to abortion a trade and defy the very foundation of it?"
If I allow myself to use discretion, what guarantees that my judgement would be right? There is no precise cause and effect relationship in trading anyway
The Thief of Wall Street