… I mean reliance on setups alone, kill. A setup is the least important part of trading. What are a few things more important than setups?
Without a plan it is hard and inefficient to learn. Trading in some respects is like an experiment. There is a control group and a variable group. Without a plan it is all a variable group. When something does works, you do not know which part.
Rules answer all of the questions the market asks. When spinning out of control, rules control the damage. Rules lead to your best days and prevent your worst days. They allow you to grow, to change, to evolve.
I have always thought of trading as a performance. When I sit in front of the screens it is like stepping on the football field. It requires focus, learning, and moving on, just like football.
Having setups is necessary, they eliminate trades and sets boundaries. It helps with pattern recognition and hones focus. However, setups are not the distinguishing factor in trading. That is a rude awakening for most, trading is not easy but anyone can accumulate money. The object is to keep it.
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