Behavioural road-map score: 9.5 out of 10.
The story of small and steady gains continued this week. There was an opportunity to make +10% but this only became known after the event, and the trade wouldn’t have fitted in to my trading plan. Indeed, history suggests that veering away from my plan tends to result in misery, so I am more than happy with this missed opportunity.
This time around, I am playing a very defensive game in an effort to make slow and steady gains up to a certain level, after which I may modify my trading plan slightly to allow winning trades to run as far as possible.
From “Inside the House of Money” by Steven Drobny:
“In golf, when you’re deep in the rough 250 yards out from the green and pull out a bloody 3-iron, you ain’t playing the game properly. You are never, ever gonna hit the green unless you’re Tiger Woods, and even he’s unlikely to. You need to pull out your 9-iron and play it safe. How you play the really crap shots is the difference between the good guys and the bad guys.” – Anonymous Currency Trader