Based on Financial Empire (金融帝国), 走出幻觉·走向成熟 (Out of Illusion, Toward Maturity)
Out of Illusion, Toward Maturity is a deeply personal account of a Chinese trader's transformation from consistent losses to consistent profitability. Written under the pen name "Financial Empire" (金融帝国), the book documents the psychological and methodological journey that every serious trader must undertake.
The central argument:
Most traders fail not because they lack intelligence or information, but because they
operate under a set of illusions about the market, about trading, and about themselves.
Profitability requires first destroying these illusions and then building a systematic
approach on the foundation of psychological maturity.
The path has two phases:
Phase 1: OUT OF ILLUSION — Recognize and discard the false beliefs that cause losses
Phase 2: TOWARD MATURITY — Build a robust trading system and the discipline to follow it
Stage 1: NOVICE ENTHUSIASM (Years 1-2)
- Believed he could get rich quickly through trading
- Relied on tips, patterns, and "hot" stocks
- Overtraded frantically
- Result: Significant losses
Stage 2: SYSTEM SEEKING (Years 2-4)
- Began studying technical analysis intensively
- Tried dozens of indicators and systems
- System-hopped after each losing streak
- Result: Continued losses, growing frustration
Stage 3: CRISIS AND BREAKTHROUGH (Years 4-5)
- Emotional and financial crisis from accumulated losses
- Began deep self-reflection on WHY he was losing
- Realized the problem was psychological, not technical
- Began building a system that matched his personality
- Result: First period of consistent (though modest) profits
Stage 4: MATURITY (Years 5+)
- Accepted trading as a probability game
- Embraced losses as a necessary cost of business
- Traded mechanically according to his system
- Focused on process, not individual trade outcomes
- Result: Consistent profitability over multiple years
This book is written by a Chinese trader FOR Chinese traders operating in A-shares. Unlike translated Western trading books, it addresses the specific psychological challenges and market structures of the Chinese market environment.
ILLUSION #1: "I CAN PREDICT THE MARKET"
Reality: No one can consistently predict short-term market direction.
The market is a complex adaptive system influenced by millions of participants.
Even the best traders are right only 40-60% of the time.
Antidote: Trade probability, not prediction.
ILLUSION #2: "THERE IS A HOLY GRAIL INDICATOR"
Reality: No indicator, pattern, or system wins all the time.
Every system has periods of drawdown. The search for a "never-lose" system is infinite.
Antidote: Accept that ALL systems lose sometimes. The goal is positive expectancy
over many trades, not perfection on each trade.
ILLUSION #3: "MORE INFORMATION = BETTER DECISIONS"
Reality: Information overload causes analysis paralysis and contradictory signals.
The trader with 3 clean signals outperforms the trader with 30 conflicting indicators.
Antidote: Simplify. Master a few tools. Ignore the noise.
ILLUSION #4: "THE MARKET OWES ME"
Reality: The market does not know you exist. It does not care about your losses,
your goals, or your need to recover. It is an indifferent mechanism.
Antidote: Take full responsibility for every outcome. No blame, no excuses.
ILLUSION #5: "I AM DIFFERENT FROM OTHER LOSERS"
Reality: You are subject to the same psychological biases as everyone else.
Overconfidence in your own uniqueness IS the bias.
Antidote: Humility. Study your actual track record. The numbers don't lie.
ILLUSION #6: "LOSSES ARE ABNORMAL"
Reality: Losses are the normal, expected, and necessary cost of trading.
A system with 55% win rate will lose 45 out of every 100 trades.
Antidote: Reframe losses as business expenses, not failures.
ILLUSION #7: "I CAN MAKE MONEY WITHOUT A SYSTEM"
Reality: Discretionary trading without rules is gambling. Even if you have
good instincts, without a system you cannot replicate success or learn from failure.
Antidote: Build a complete, written, testable trading system.
Step 1: Enter the market with enthusiasm and unrealistic expectations
Step 2: Make some early profits (often through luck in a rising market)
Step 3: Confuse luck with skill. Increase position sizes and trading frequency.
Step 4: Market turns. Suffer large losses.
Step 5: Refuse to accept losses. Hold losing positions. Average down.
Step 6: Eventually forced to sell at much larger loss.
Step 7: Attempt to "recover" losses through aggressive, emotional trading.
Step 8: Losses compound. Either:
a) Quit the market entirely (the 70% who lose)
b) Hit bottom and begin the real learning process (the 10% who eventually profit)
Why do traders repeat the same mistakes?
1. EMOTIONAL DECISION-MAKING: Decisions made under fear or greed are systematically wrong
2. NO WRITTEN RULES: Without explicit rules, every decision is improvised
3. OUTCOME FOCUS: Judging by results (P&L) instead of process (did I follow my rules?)
4. NO FEEDBACK LOOP: Not recording trades means not learning from patterns
5. EGO PROTECTION: Admitting a trade is wrong feels like admitting YOU are wrong
6. RECENCY BIAS: The last trade dominates decision-making for the next trade
A trading system is a COMPLETE set of written rules that answers:
1. WHAT to trade: Which stocks/instruments qualify for your approach
2. WHEN to enter: Specific, objective criteria that trigger a buy
3. HOW MUCH to buy: Position sizing rules based on risk
4. WHEN to exit (loss): Stop-loss rules — the most important part
5. WHEN to exit (profit): Profit-taking or trailing stop rules
6. HOW to manage: Rules for adding to positions, adjusting stops, etc.
A system is complete when two different people following the same rules
would make the same trades at the same time.
A good trading system must be:
1. OBJECTIVE: Rules are clear enough that a computer could execute them
BAD: "Buy when the stock looks like it's turning up"
GOOD: "Buy when price closes above 20-day MA with volume > 1.5x average"
2. TESTABLE: Rules can be backtested against historical data
If you cannot test it, you cannot know if it works.
3. COMPLETE: Covers every scenario the trader will encounter
Incomplete systems create moments of discretion where emotions take over.
4. PERSONAL: Matches the trader's personality, time availability, and risk tolerance
A day-trading system does not work for someone with a full-time job.
An ultra-patient system does not work for someone who needs frequent action.
5. SIMPLE: Uses the minimum number of rules and indicators needed
Complexity increases the chance of curve-fitting and the difficulty of execution.
Component 1: EDGE (Positive Expectancy)
Expectancy = (Win Rate × Average Win) - (Loss Rate × Average Loss)
Must be positive over a large sample of trades.
Example:
Win rate: 45%, Average win: ¥3,000
Loss rate: 55%, Average loss: ¥1,200
Expectancy = (0.45 × 3,000) - (0.55 × 1,200) = ¥1,350 - ¥660 = ¥690 per trade
A system with positive expectancy will make money over time,
even if it loses more often than it wins.
Component 2: RISK MANAGEMENT (Survival)
Position sizing and stop-losses that ensure no single trade or losing streak
can destroy the account.
Component 3: DISCIPLINE (Execution)
The psychological ability to execute the system consistently,
especially during drawdowns when every instinct screams to change.
The author's system is built on trend following, which he considers the most robust approach for A-share retail traders:
CORE PRINCIPLE: Follow the trend. Do not predict. React.
Why trend following:
1. Trends exist in all markets and timeframes (empirically proven)
2. Trend following has positive expectancy in A-shares (tested)
3. It requires no prediction — only recognition and reaction
4. It naturally cuts losses (trend breaks = exit) and lets profits run (trend continues = hold)
5. It is psychologically manageable because rules are clear
Why NOT counter-trend or mean-reversion:
1. In A-shares, trends tend to persist longer than expected (retail herding)
2. Counter-trend trades have lower win rates and require precise timing
3. Mean-reversion assumes a "normal" that may not exist in a policy-driven market
The author advocates matching system timeframe to personal situation:
Timeframe | Holding Period | Monitoring | Best For
--------------|----------------|---------------|---------------------------
Intraday | Minutes-hours | Continuous | Full-time traders (not in A-shares due to T+1)
Swing | 3-20 days | 2x daily | Part-time traders
Position | 3-12 months | Weekly | Investors with full-time jobs
Long-term | 1-5 years | Monthly | Pure value investors
The author primarily uses the SWING and POSITION timeframes.
For A-shares with T+1 settlement, intraday trading is structurally disadvantaged.
LESS IS MORE. The author uses only:
1. Moving averages (20-day, 60-day, 120-day) — trend direction and support/resistance
2. Volume — trend confirmation and exhaustion signals
3. Relative strength — comparing stock performance to index
That is the complete indicator set. No RSI, no MACD, no Bollinger Bands, no stochastics.
Rationale: Every additional indicator adds noise and potential for contradictory signals.
The three tools above capture the essential information: trend, conviction, and relative merit.
Stage 1: UNCONSCIOUS INCOMPETENCE
Trader doesn't know what they don't know. Trades on gut feeling and tips.
Characterized by: Overconfidence, excitement, large random bets.
Stage 2: CONSCIOUS INCOMPETENCE
Trader realizes they are losing and begins to understand why.
Characterized by: Frustration, system-seeking, constant strategy changes.
Stage 3: CONSCIOUS COMPETENCE
Trader has a working system but must consciously fight urges to deviate.
Characterized by: Discipline requires effort, frequent temptation to override system.
Stage 4: UNCONSCIOUS COMPETENCE
Following the system becomes automatic. Emotions no longer control decisions.
Characterized by: Boredom (a good sign), mechanical execution, steady results.
Stage 5: MASTERY
Trader understands the system's limitations and strengths deeply. Can adapt to
changing market conditions without abandoning core principles.
Characterized by: Calm confidence, continuous improvement, teaching others.
MOST traders never progress past Stage 2.
The book is designed to bridge Stages 2 to 4.
The goal is not to eliminate emotions (impossible) but to prevent them from affecting trades.
BEFORE MARKET OPEN:
- Review your system's rules (remind yourself what you will do)
- Review open positions and their stop levels
- Pre-commit to today's actions in writing
DURING MARKET HOURS:
- Execute pre-planned actions ONLY
- If you feel a strong urge to do something not in the plan: DO NOTHING
- If you feel fear: check whether your stop has been hit. If not, hold.
- If you feel greed: check whether your target has been reached. If not, hold.
AFTER MARKET CLOSE:
- Record what you did and what you felt
- Grade: Process A (followed rules) / Process F (deviated from rules)
- Identify any emotional trigger and how to handle it next time
KEY RULE: Never make a trade decision during emotional arousal.
If you feel strongly about doing something, that is the MOST important time to do nothing.
Profitability requires accepting:
1. ACCEPTING LOSSES: Losses are not punishments. They are the cost of doing business.
Every successful trader has lost money on thousands of trades.
2. ACCEPTING UNCERTAINTY: You will never know if the next trade will win or lose.
You only know that your SYSTEM will profit over 100 trades.
3. ACCEPTING IMPERFECTION: You will not catch every move. You will not sell at the top.
You will not buy at the bottom. Perfection is an illusion.
4. ACCEPTING BOREDOM: Mature trading is boring. If you are excited, you are probably
doing it wrong. Excitement indicates emotional involvement.
5. ACCEPTING RESPONSIBILITY: Every outcome is the result of your decisions.
Not the market's fault. Not bad luck. Your decisions.
PRE-CONDITION: Market Environment
- Shanghai Composite above its 120-day MA (macro uptrend)
- If below 120-day MA: Only trade stocks with extreme relative strength
SETUP: Stock Selection
- Stock is above its 60-day MA (intermediate uptrend confirmed)
- Stock has positive relative strength vs. CSI 300 over past 20 days
- Volume pattern: Expanding on up days, contracting on down days
TRIGGER: Entry Signal
Choose ONE of the following (not multiple):
A) BREAKOUT: Price closes above 20-day range high on volume > 1.5x average
B) PULLBACK: Price pulls back to 20-day MA in uptrend, holds, and resumes
(confirmed by next day close above the pullback low)
C) MA CROSS: 20-day MA crosses above 60-day MA (slower but more reliable)
CONFIRMATION (optional):
- Volume on entry day > 1.2x 20-day average volume
- No major resistance within 5% above entry point
Step 1: Signal fires during market hours
Step 2: DO NOT ACT immediately. Note the signal.
Step 3: After market close, verify all criteria are met (prevent false signals)
Step 4: Calculate position size (Section 8)
Step 5: Set entry order for next morning
Step 6: Set stop-loss order simultaneously (before entry is filled if possible)
Step 7: Record entry in trading journal with full reasoning
NEVER enter without a pre-calculated stop-loss.
The stop-loss level determines whether the trade is valid at all.
If the required stop is too wide (risk exceeds 2% of capital), SKIP the trade.
Do NOT enter even if the signal triggers when:
1. You already have maximum open positions (5 for this system)
2. The market index dropped more than 3% today (panic day — wait for dust to settle)
3. Major economic data release or policy announcement within 2 days
4. You have hit your monthly loss limit
5. You feel strongly compelled to enter (emotional signal = danger signal)
TIER 1: INITIAL STOP-LOSS
Set at the time of entry. NEVER moved further from entry.
Method: Below the most recent swing low, or 2x ATR below entry price
Maximum: 8% below entry price (hard cap regardless of ATR)
TIER 2: BREAKEVEN STOP
After trade moves 1R in your favor (R = initial risk):
Move stop to entry price (breakeven)
Purpose: Eliminate risk on the trade, create a "free trade"
TIER 3: TRAILING STOP
After trade moves 2R+ in your favor:
Trail stop below each successive higher swing low
Or: Trail using 20-day MA (if stock closes below, exit next day)
Purpose: Capture the maximum trend while protecting profits
Market Condition | Preferred Stop Method
---------------------|----------------------------------
Strong uptrend | Trailing stop (let profits run)
Weak/choppy uptrend | Fixed target at 2-3R (take what you can)
Breakout trade | Trail below breakout level initially, then swing lows
Pullback trade | Trail below 20-day MA
THE MOST IMPORTANT RULE IN THIS ENTIRE BOOK:
When your stop-loss is hit, EXIT. No exceptions. No hesitation. No "let me wait one
more day." No "it's probably just noise."
The stop-loss is the single mechanism that prevents small losses from becoming large losses.
Violating the stop-loss even once creates a precedent that your brain will use to justify
violating it again. And again. Until one trade destroys your account.
If you cannot honor your stop-loss, you cannot trade profitably. Period.
Maximum risk per trade: 2% of total trading capital
Risk = (Entry Price - Stop Price) × Number of Shares
Calculation:
Capital: ¥300,000
Max risk: ¥300,000 × 0.02 = ¥6,000
Entry: ¥25
Stop: ¥23
Risk per share: ¥2
Maximum shares: ¥6,000 / ¥2 = 3,000 shares
Position value: 3,000 × ¥25 = ¥75,000 (25% of capital)
Note: The STOP DISTANCE determines position size.
If stop is ¥24 (¥1 risk): 6,000 shares, ¥150,000 (50% of capital)
If stop is ¥22 (¥3 risk): 2,000 shares, ¥50,000 (17% of capital)
Maximum total portfolio risk at any time:
Conservative: 6% (3 positions at 2% each)
Moderate: 8% (4 positions at 2% each)
Aggressive: 10% (5 positions at 2% each)
The author uses MODERATE (8%) as his standard limit.
After positions move to breakeven stops, the "heat" from those positions drops to zero,
freeing up risk budget for new trades.
DRAWDOWN LEVEL | ACTION
<5% | Normal operations, continue trading per system
5-10% | Reduce position size by 50% for all new trades
10-15% | Stop trading for 1 week. Review system and recent trades.
15-20% | Stop trading for 1 month. Comprehensive system review.
>20% | Stop trading entirely. Paper trade only until confidence restored.
| May need to redesign the system.
Probability of ruin depends on risk per trade and win rate:
Risk/Trade | Win Rate 40% | Win Rate 50% | Win Rate 60%
1% | 0.1% | ~0% | ~0%
2% | 1.5% | ~0% | ~0%
5% | 12% | 2% | ~0%
10% | 38% | 13% | 2%
20% | 72% | 40% | 18%
50% | 99%+ | 88% | 67%
At 2% risk per trade with a 45-55% win rate: probability of ruin is negligible.
At 10% risk per trade with the same win rate: probability of ruin is substantial.
THIS is why position sizing matters more than entry signals.
PRE-MARKET (15 minutes):
1. Check news for any events affecting holdings
2. Review stop levels for all open positions
3. Check watchlist for potential entry signals approaching
4. Write today's action plan: "If X, then Y" for each scenario
5. Emotional check: Am I calm? Am I clear? If not, do NOT trade today.
MARKET HOURS:
- Execute pre-planned orders ONLY
- Monitor stops on open positions
- Do NOT modify stop-losses (they were set for a reason)
- Do NOT chase stocks that moved without you (there are always more trades)
- Limit screen time to 2 check-ins (open, close) if possible
POST-MARKET (15 minutes):
1. Record all trades and outcomes
2. Grade each decision: A (followed system), B (minor deviation), F (major deviation)
3. Record emotional state during key decisions
4. Update trading journal
5. Prepare watchlist for tomorrow
EVERY trade must be recorded with these fields:
Trade Record:
- Date/time of entry and exit
- Stock code and name
- Setup type (breakout/pullback/MA cross)
- Entry price, stop price, position size
- Risk in yuan and as % of capital
- Exit price and reason (stop hit, target reached, trailing stop, etc.)
- P&L in yuan and in R-multiples
- Holding period
- Process grade (A/B/F)
- Emotional state at entry and exit
- Chart screenshot at entry and exit
- What I would do differently (if anything)
WEEKLY: Review all trades. Calculate:
- Win rate
- Average R-multiple
- Largest winner and loser (in R-multiples)
- Process grade distribution
- Any patterns in mistakes
MONTHLY: Comprehensive review. Calculate:
- Monthly return and drawdown
- System expectancy (running average)
- Comparison to benchmark
- Most common mistake and corrective action
Rule 1: NEVER trade when tired, sick, drunk, or emotionally upset.
Your judgment is impaired. The market will be there tomorrow.
Rule 2: NEVER trade to prove something (to yourself or others).
Trading is not about ego. It is about profit.
Rule 3: NEVER discuss open positions on social media.
Once you publicly commit to a position, your ego becomes invested.
You will hold losers to avoid public embarrassment.
Rule 4: NEVER compare your returns to others.
You are trading YOUR system with YOUR capital and YOUR risk tolerance.
Someone else's returns are irrelevant.
Rule 5: Take breaks. A day off every week. A week off every quarter.
Trading is mentally exhausting. Fatigue leads to mistakes.
Mistake #1: OVER-OPTIMIZATION (CURVE FITTING)
Designing a system that works perfectly on historical data but fails live.
Cause: Too many parameters tuned to fit past data exactly.
Fix: Use simple systems with few parameters. Test on out-of-sample data.
Rule of thumb: If your system has more than 5 rules, it is probably overfit.
Mistake #2: IGNORING TRANSACTION COSTS
Backtesting without accounting for commissions, slippage, and spread.
Impact: A system that shows 20% annual return may show 5% after real costs.
Fix: Add 0.3% round-trip cost to every trade in backtest.
Mistake #3: UNDER-SAMPLING
Concluding a system "works" based on 20-30 trades.
Fix: Need minimum 100 trades (ideally 200+) for statistical confidence.
Mistake #4: SYSTEM HOPPING
Abandoning a system after 5-10 losing trades.
Reality: Even great systems have losing streaks of 8-10 trades.
Fix: Commit to 100 trades before evaluating. Judge by total performance, not streaks.
Mistake #5: MOVING STOP-LOSSES FURTHER AWAY
"It's just below my stop, I'll give it more room."
Result: The 8% loss you planned becomes a 25% loss.
Fix: Stops are set ONCE and never moved away from entry. Only toward profit.
Mistake #6: ADDING TO LOSERS
"It's even cheaper now!"
Result: Increased exposure to a losing position. The opposite of what the system says.
Fix: Never add to a losing position. Only add to winners.
Mistake #7: EXITING WINNERS EARLY
"I have a 15% gain, I should take it before it disappears."
Result: Your average win shrinks below your average loss. System expectancy goes negative.
Fix: Let the trailing stop do its job. The only acceptable early exit is a system signal.
Mistake #8: REVENGE TRADING
"I just lost ¥10,000. I need to make it back NOW."
Result: Emotional, oversized trades that compound losses.
Fix: After a loss, do NOTHING for at least 24 hours. Then return to normal system.
CONTEXT:
Capital: ¥500,000
System: Trend-following, swing timeframe
Date: Trading day 1
PRE-TRADE SCANNING:
Market check: Shanghai Composite above 120-day MA. ✓ Market environment favorable.
Stock scan: Company XYZ (a technology company on watchlist)
- Price: ¥42, above 60-day MA (¥38) ✓
- Relative strength vs CSI 300: Positive (stock outperforming index past 20 days) ✓
- Volume: Expanding on recent up days, contracting on down days ✓
- Setup: Price has pulled back to 20-day MA (¥41.50) and is holding
ENTRY SIGNAL (Day 1):
Signal type: PULLBACK to 20-day MA in uptrend
Confirmation: Price closes at ¥42.20, bouncing from ¥41.30 low (held above 20-day MA)
Volume on bounce day: 1.3x average volume ✓
POSITION SIZING:
Entry price: ¥42.20
Stop-loss: ¥39.50 (below recent swing low of ¥40.00)
Risk per share: ¥42.20 - ¥39.50 = ¥2.70
Max risk (2% of ¥500,000): ¥10,000
Shares: ¥10,000 / ¥2.70 = 3,703 → round to 3,700 shares (37 lots)
Position value: 3,700 × ¥42.20 = ¥156,140 (31% of capital)
Risk: 3,700 × ¥2.70 = ¥9,990 (2.0% of capital) ✓
ENTRY EXECUTION (Day 2):
Buy 3,700 shares at ¥42.20
Stop-loss order: Sell if price drops to ¥39.50
Journal entry: "Pullback buy in uptrend. 20MA support confirmed. Volume adequate.
Risk 2.0% of capital. R-target: 2R at ¥47.60."
TRADE MANAGEMENT:
Day 3: Stock drops to ¥41.00. Uncomfortable but stop not hit. HOLD per system.
Day 5: Stock recovers to ¥43.50. Now +1R (¥42.20 + ¥2.70 = ¥44.90... not yet)
Day 8: Stock reaches ¥44.90 (+1R). Move stop to ¥42.20 (breakeven). FREE TRADE.
Day 12: Stock at ¥47.00. Approaching 2R (¥47.60).
Day 14: Stock reaches ¥48.50 (>2R). Switch to trailing stop below swing lows.
Most recent swing low: ¥45.50. Set trailing stop at ¥45.50.
Day 18: Stock at ¥51.00. New swing low: ¥48.00. Raise trailing stop to ¥48.00.
Day 22: Stock at ¥52.50. New swing low: ¥49.50. Raise trailing stop to ¥49.50.
Day 25: Stock pulls back. Hits ¥49.50 trailing stop.
EXIT EXECUTION (Day 25):
Sell 3,700 shares at ¥49.50
P&L: 3,700 × (¥49.50 - ¥42.20) = ¥27,010
R-multiple: ¥27,010 / ¥9,990 = 2.70R
Duration: 23 trading days
POST-TRADE REVIEW:
Process grade: A (followed all system rules without deviation)
Emotional notes: "Felt anxiety on Day 3 when stock dropped. Wanted to exit.
Resisted because stop was not hit. Glad I followed the system."
Lesson: "Pullback entries can feel terrible initially but work well in uptrends."
Running stats: Win #7 in last 15 trades (47% win rate). Average win: 2.3R.
Average loss: -1.0R. Expectancy: (0.47 × 2.3) - (0.53 × 1.0) = +0.55R per trade.
"The market is a mirror that reflects your inner world. If you are chaotic inside,
your trading results will be chaotic. If you are disciplined inside, your results
will be disciplined."
"The journey from illusion to maturity is the journey from 'I know everything' to
'I know almost nothing, but I have a system for dealing with that uncertainty.'"
"A trading system is not a prediction machine. It is a decision-making framework that
produces positive results OVER TIME, not on every individual trade."
"The stop-loss is not your enemy. It is the only thing standing between you and
catastrophic loss. Treat it with the respect you would give a fire extinguisher."
"Most traders spend 90% of their time looking for the perfect entry and 10% on everything
else. Mature traders reverse this: 10% on entries, 90% on exits, risk management,
and psychology."
"Boredom is the hallmark of mature trading. If you are excited about your trades,
you are still in the illusion phase."
"The market rewards consistency, not brilliance. A mediocre system followed consistently
will outperform a brilliant system followed erratically."
"Every trader must pay tuition to the market. The question is not whether you will pay,
but how much. Those who risk 2% per trade pay affordable tuition. Those who risk 20%
per trade pay tuition they cannot recover from."
"The seven illusions are not intellectual problems — they are emotional problems. You can
understand them intellectually in an hour. It takes years to overcome them emotionally."
"Walking out of illusion means accepting that you are an ordinary person playing a
probability game in an uncertain world. Walking toward maturity means building systems
and habits that turn those probabilities in your favor, one trade at a time."
"Your trading journal is the most valuable tool you own. Not your charting software.
Not your indicators. Your journal. Because it is the only place where truth lives."
"The mature trader does not fear losses. He fears only one thing: deviating from his system."
Implementation specification compiled from Financial Empire (金融帝国), 走出幻觉·走向成熟. This document is a systematic distillation for practical application and does not replace reading the original work.