In TrackRecord’s Incubation Programme, we do a bi-weekly risk call with our students, exploring trade ideas and discuss possible themes going forward.
In the process, our CIO and Programme Mentor, Phan Vee Leung, provides feedback on areas that the students can work on as they present their thought processes.
Here’s one student’s takeaway from the discussion:
"One of the biggest reminders that I got served is that we have to respect the price action even if our theme is right. Think one of our human tendencies (or weaknesses, myself included) is we always want to prove we are right. In trading, this can be a dangerous behaviour.
This leads me to think of a principle from Ray Dalio-"Open-mindedness". Paraphasing his words from a video I am sharing, "Just because an opinion or idea exists in your head, does not mean it is the right one..
We need to stress test it", which is exactly what Vee has been advocating."
#tradingmentor #raydalio #respectthepriceaction #TRtestimonial #TradingIncubationProgramme
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