Kardex Trader argues the most important skill for traders is discipline: knowing when not to trade. Entering trades in choppy, range-bound markets erodes profits. He uses one predefined execution model to prevent ad-hoc decisions and stay accountable.
This is the most important thing for me, sitting on your hands. If you want to take a 1 to 10 anticipating a breakout, it's good because the risk, it's worth it. But when you have the wrong market condition or you want to buy a choppy range, this one is when you usually eat the profit of the day before. For example, I don't have 720 models. I have one model which do execution and this keeps me accountable to not be creative in the position I take.
