Breaking Your Own Rules

Discussion in 'Trading' started by saxon, Mar 15, 2003.

  1. saxon


    I work with a fairly detailed set of trading rules that I have worked out over time, and when I didn't have a hot position at stake (i.e., as objectively as possible). I call it "the Playbook".

    My rule of rules is, "if it isn't in the Playbook, don't run it."

    But...being human...I sometimes do a little "freelancing"; and it really amazes me how often those freelanced plays leave me in a worse position than if I had followed the Playbook.

    I was just curious if you guys have the same experience of almost always getting burned when you break your own rules?