Premkumar's Column
Rigidity & Flexibility
Is a trait of rigidity or a trait of flexibility important for a trader to become successful? The truth is neither black nor white, but grey. However, to become successful we should find the right kind of grey.
A Trader should understand when he should be rigid and when he should be flexible. Once a trader finds a decent trading system, he should be very rigid in following the trading system and he should systematically take the trades, rain or shine.
But he should be very flexible in research and work on a lot of creative ideas to improve his trading system. A trader should not meddle with ideas when he is into real trading. He should use his ideas to back test the system in an extensive way.
Once a trader improves his system, he should be flexible in replacing his existing system with the improved method. A trader should not be inhibited by feelings that the new improved system is not suitable for his personality. A trader should change his personality according to the improved system.
This is one of the secrets of a successful trader.
