: Successful business owners do not blame the market or others; they take full ownership of every trade outcome.
: Diamond uses extremely tight protective stops, often just two ticks away from his entry price, to ensure losses remain negligible.
: Traders must identify a "core position"—a trade size they can manage without feeling overwhelming fear or greed. Trading as a Business: The Methods and Rules I'...
By mastering these rules, Diamond transitioned from a floor broker to a successful independent trader, proving that a conservative, rules-based approach can sustain a five-decade career in the markets.
Diamond argues that even the best technical system will fail without psychological control. He emphasizes: : Successful business owners do not blame the
: Many traders fail because they hunt for huge, risky wins. Diamond’s business thrives on small, repeatable, low-risk gains that compound over time.
: 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 By mastering these rules, Diamond transitioned from a
Diamond’s signature "80/20" method refers to trade setups that he believes offer an 80% chance of success. His technical approach often includes: