Are you a Borg or a McEnroe?

Given that this year's Wimbledon is currently in progress, I have a tennis theme to this post.

Any trader who has been profitable over the long-haul has developed a method and mindset that works for them.

Usually, this means approaching the markets in an unemotional, rational state, rather than an emotional, irrational state.

In my opinion that is the way to be, but that statement is not complete. Behind that, it is quite possible to go through emotional ups and downs on a daily basis and be successful.

What you can learn from Mark McCormack

Mark McCormack and Arnold Palmer

Mark H McCormack was a business pioneer. He created the International Management Group in the early 1960's - his first client was Arnold Palmer, closely followed by Jack Nicklaus and Gary Player.

Reviewing your trading beliefs and rules

I had an interesting conversation the other day with another trader about their own beliefs in the markets, and how following these can help or even hinder you as a trader.

My own opinion (or belief!) is that whatever rules you have created are an attempt to formulate your own beliefs into a viable trading strategy. Those basic beliefs give you a framework, or an outline of the overall concept about your approach to the markets, and the specific rules you use add the meat to the bone of your basic idea.