My trading plan is one of the most irrelevant factors of being a successful trader. Trading my plan and risk management are more important than my actual plan. Trading my plan when it dictates is my goal. I cannot control what happens after I execute my plan. Richard was a successful commodities trader in the 70′ and 80’s. Discipline is the keyword:
I always say that you could publish trading rules in the newspaper and no one would follow them. The key is consistency and discipline. Almost anybody can make up a list of rules that are 80 percent as good as what we taught people. What they couldn’t do is give them the confidence to stick to those rules even when things are going bad.
An interesting book on the story of Richard Dennis and his underlings is here.