Be disciplined in following your trading plan from "summary" of Reminiscences of a Stock Operator by Edwin Lefevre
Every successful speculator that I have ever known has been disciplined in following their trading plan. It is not enough to have a plan in place – one must have the self-control to execute it without hesitation. This is easier said than done, as the market has a way of testing your resolve. It will throw all sorts of distractions your way, tempting you to deviate from your plan. But the key to success lies in staying true to your strategy, no matter what. When you have a well-thought-out trading plan, you have already done the hard work of analyzing the market, identifying your entry and exit points, and setting your risk parameters. All that is left is to follow through on your plan with unwavering discipline. This means not getting swayed by emotions or external factors that could cloud your judgment. It means sticking to your rules even when the market seems to be moving against you. Discipline ...
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