Rule Based Trading
While I was away on my 4 week long vacation, I was not worried about the market action. Once back, I knew I was going to be able to execute and carry on as if I never left.
My first day back trading, I managed to make over $4,000 within the first hour of the market open. It was not because of luck, it was because of Rule Based Trading. The difference between me, my rules and a computer algorithm, is emotions and speed. And in order to limit as much emotions as possible, would be to follow the rules. Rules keep emotions in line and allows you to perform to the best of your ability. Rule Based Trading is essential to a winning Strategy, the rules are apart of what makes the strategy successful.
My rules were created based on past mistakes. Following the rules avoids potential mistakes, and at the end you are left with Profitable Trades.
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