Q&A by Don Bright
RULES, RULES, RULES: DO WE NEED TO FOLLOW THEM?
In this month’s column, Rob Friesen, president & COO of Bright Trading, will be filling in for Don Bright.
“If you obey all the rules you miss all the fun.” —Katharine Hepburn
Some traders have that fierce independence and spirited personality that Katharine Hepburn was known for and they carry it into their trading career. Unfortunately, fun has little to do with making money, although the advice to “do what you love and the money will come” is often used to justify hanging in there in trading until you make it.
One of our successful traders told our members at our annual retreat that he had endeavored to make trading the most boring job ever. This methodical, boring approach had translated into making money by placing capital into numerous trades with statistical edges; no emotions, just continually dropping the hammer on trades as his research and trading programs identified them...