: Traders must identify a "core position"—a trade size they can manage without feeling overwhelming fear or greed.
A central tenet of Diamond's business model is capital preservation. To him, the primary goal is not making money, but .
Diamond argues that even the best technical system will fail without psychological control. He emphasizes: Trading as a Business: The Methods and Rules I'...
: This is built by strictly following rules and knowing you can identify high-probability setups.
: Successful business owners do not blame the market or others; they take full ownership of every trade outcome. : Traders must identify a "core position"—a trade
AI responses may include mistakes. For financial advice, consult a professional. Learn more Trading As A Business by Dick Diamond - Bookmap
: He advocates for taking profits while momentum is still favorable rather than waiting for a market reversal, famously stating it is better to "sell too soon than too late". The Pillars of Emotional Discipline Diamond argues that even the best technical system
: Diamond uses extremely tight protective stops, often just two ticks away from his entry price, to ensure losses remain negligible.