Saturday, August 9, 2008

My "Rules to Live By"

This is an official list of core beliefs and "rules" I will reference back to when in doubt. In other words, if I see myself getting sidetracked, or unsure if I should devote research time to a new idea that comes across my desk... hopefully this will serve to guide me:


These are core principles that drive my study and trading life. Before engaging in new activity, I need to make sure none of these rules are violated... as that would certainly be going against the grain.

Open-source software
  • I'm a strong proponent, so investing in closed-source would be strongly contrary to my beliefs
  • I will prefer open tools, indicators and systems before considering any closed-source purchase
  • Tools or systems that I personally develop will be built on open principles
  • I'm completely uncomfortable with closed-source robots
    • No way to fully understand their workings
    • No way to fix or improve them
    • Not a good prospect for long-term success

Collaborative development
  • I believe that it is not possible to saturate forex market with any particular trading style
  • I'm not afraid to share my secrets/ideas with others
  • I believe others will contribute ideas that help me excel, and vice versa
  • I believe in serendipity

Make my own trading decisions
  • I strongly believe that allowing other people to manage my money is a dead-end road
  • I believe that I must learn myself how to handle my own money if I am to excel in the long term
  • I should develop my own trading strategies, even if it takes longer to excel as a result
  • I believe that the best trading strategies would be personally discovered and developed by myself
  • Any system that does not allow me complete understanding and control of trading decisions should be avoided
  • Only a personally developed system could "fit me like a glove"

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