MegaTrade101 take on Ray Dalio's Life Principles 3.2a

Ray Dalio's Life Principles 3.2a

Most people make bad decisions because they are so certain that they’re right that they don’t allow themselves to see the better alternatives that exist.  

Radically open-minded people know that coming up with the right questions and asking other smart people what they think is as important as having all the answers. 

They understand that you can’t make a great decision without swimming for a while in a state of “not knowing.” That is because what exists within the area of “not knowing” is so much greater and more exciting than anything any one of us knows. 
 
MegaTrade101 take on Ray Dalio's Life Principles 3.2a
 
Applying this principle in trading particularly in making the right trading decision at times does have a certain degree of difficulty. Learning from past experiences in the market have taught us not to be over confident and especially bias when it comes to analyzing the markets. As there are more than a handful of considerations before being able to come up with a reasonably sound decision. 
 
Although, there are only two choices to be made, either to go long or short the market. Either way the direction of prices go, by maintaining a set of principles and process to go by with can make up the difference of making bad decisions in trading and even avoiding making the same mistake twice. Likewise, one of the basic principles that is practised is to have an attitude of respect with the markets being traded. 
 
In fact, everyone who has the ability to project a market direction with a higher degree of probability to succeed is based on excercising due diligence and with a well calculated basis of price parameters which can guide their respective trade plans. 
 
In hindsight of being certain without any specific basis would be very dangerous. As the market reflects whatever it does and more often it has its own market calibration; where investor / traders would have to navigate through. 
 
Therefore, by asking the right questions from reliable resources would be extremely valuable. As answers from these people can only draw the best answers on issues that maybe uncertain at some point in time. Weigh down all good points while deriving the best probable conclusion that would best serve each one and fits well with the individual's objectives. 
   
Fact based research, applicable theories and precautionary measures are designed to have a greater probability of success in an ideal market condition which can only be as good as being on the right side of the market at a particular period of price and time. 
 
Although, narratives do change quite often from the time due diligence and fact based research should be able to make certain changes whenever called for. More often previously conceptualized case scenario factored into an equation may no longer be applicable since the design correlation factor does not fit. 
 
Hence, adapting to the right applications while being open minded to other prominent alternatives would do justice to meet the necessary changes that can deliver or even surpass what was originally expected from the start. 
 
Then the importance of proper 'execution & implementation' are the two most basic tactical action to be taken. With the key elements of price & time executed well within the highest degree of probability & accuracy, the end result would also have justified the means taken. 
 
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