UweMoench posted: In trading everyone should have some rules. And you have to stick to those rules. Like there should have been a fixed risk reward ratio. It could be 1:1 or 1:2 according to your strategy. When you have risk reward ratio, you will open trade if the criteria is met. Sometimes we may need to take instant decision depending on the market situation. But rules should be there. That's the reason discipline is the key to success here.
Rules/strategy is essential. It is the only way to accurately benchmark your decision making process and allow yourself to see 'where you went wrong' - without it, you're wasting your time.
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