: Implementing practices like maintaining a trading journal to track decisions and emotions, which helps avoid impulsive moves driven by fear or greed.
To prevent fear and greed from sabotaging their executions, professionals focus entirely on executing their process perfectly. They measure success by how well they followed their trading plan, not by the dollar amount made on a single day.
Winning traders operate with zero ego. They accept that losses are simply a necessary business expense, much like inventory costs for a retail shop.
According to the gurus featured in the book, consistent profitability is built on a foundation of discipline rather than "insider tips": Robust Trading Plan
Keane Lee, founder of the T3B system, says the single most important secret is to "let go of the emotional attachment to your money." By detaching from the outcome, traders can execute their plans with mechanical precision, a philosophy echoed by Dr. Foo Loon Sung, who champions disciplined execution above all else.
Options are often misunderstood as highly speculative, but Singapore's mathematical trading gurus use them as insurance and income-generation tools. Instead of just buying directional calls or puts, they act as "the casino" by selling options (e.g., covered calls and cash-secured puts). This allows them to profit from time decay (theta) and high implied volatility, achieving a high win-rate regardless of whether the market goes up, down, or sideways. 2. Risk Management: The "Holy Grail" of Survival