During the week we hosted a chat by a good mate of mine David Chia who along with his team managed about $500 mil. During his talk he said that when he and his team go to take a trade they adopt a step out process whereby they consider the reasons as to why someone might take a the opposite trade.
It seems to me that this process would not only hone your focus but would also prime you for the myriad of possible outcomes that may occur after you have taken the trade.
The only thing you can control in the market is yourself and your perception of events. All events are possible as are all reactions to events.
Definitely a technique worth exploring.
This is a powerful technique for resolving conflict as well – write out the other side’s position and you really gain perspective.
Great advice!