Treat Your Trading Like A Business

You're The CEO, Your Strategies Are Employees

While I don't want to get too deep into a "mindset" type of discussion, I think it is at least worth exploring the concept of viewing your trading career as exactly that, a career. This is something you should be considering as a long term business investment, not for short term gains. 6 months, 1 year, 5 years. Will you still be trading? Or will your business go bankrupt?

 

Your Strategies Are Your Employees

You should treat your strategies like employees. If they're not working for you, do a performance assessment, and if you find that your strategies are failing you, fire them. This doesn't mean your employees can't take a vacation for a week or have a difficult time for a short period (i.e., drawdown periods). It means that if your strategy performance is failing what you expected from backtesting (win rate, drawdown, max losses in a row, etc.), then you should consider a new strategy.