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THE ULTIMATE EDGE

A COURSE IN PRINCIPLES


(A Traders guide)


A. Why Principles


What is a principle?


A fundamental truth or proposition that serves as the foundation for a system of belief or behavior or for a chain of reasoning.


60/30/10 versus 10=100


(image/networking/product) versus 100% performance (trading, competitive sport, brain surgery)


Problems:


Trading is counter intuitive


Requires no skills (push of a button only)

Humans have no physical sense for probabilities

or dealing with constant uncertainty


Solutions:


Principles=ultimate truths:


to gain confidence

to lean against

to be independent


B. “A trader’s daily plan”


All the moving parts


Without a plan no measure without measure no room for improvement,


People trade beliefs-

Beliefs are not necessarily principle based and even less conducive to consistent trading results


Be organized,

have a plan,

develop all aspects simultaneously,

be self-responsible,

measure,

adjust,

improve




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