Trading As A Business: The Methods And Rules I'... May 2026

: Traders must identify a "core position"—a trade size they can manage without feeling overwhelming fear or greed.

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.

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: 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

: Successful business owners do not blame the market or others; they take full ownership of every trade outcome. : Traders must identify a "core position"—a trade

Diamond’s signature "80/20" method refers to trade setups that he believes offer an 80% chance of success. His technical approach often includes:

: This is built by strictly following rules and knowing you can identify high-probability setups. For financial advice, consult a professional

Diamond argues that even the best technical system will fail without psychological control. He emphasizes: