Trading As A Business: The Methods And Rules I'... Here
In his book, legendary trader Dick Diamond details how he achieved consistent success by treating trading with the rigor of a professional enterprise rather than a speculative hobby. Diamond’s philosophy centers on the idea that sustainable profits come from emotional discipline , conservative risk management , and a high-probability methodology known as the 80/20 strategy . The Core Methodology: The 80/20 Strategy
: He looks for a "free ride"—a trade that moves in his favor immediately. If the market does not react quickly, he exits to minimize exposure. Business Rules for Risk and Capital Trading as a Business: The Methods and Rules I'...
: Diamond uses extremely tight protective stops, often just two ticks away from his entry price, to ensure losses remain negligible. In his book, legendary trader Dick Diamond details
: Traders must identify a "core position"—a trade size they can manage without feeling overwhelming fear or greed. If the market does not react quickly, he
: He primarily executes trades on very short-term charts to capitalize on quick market momentum.