What a great point and subject Tim. A great launch pad for an important trading subject. Risk management... https://twitter.com/timhobill/status/1343343288791650304

I'm going to simplify the subject into a small corner of trading that only touches on Tim's subject of stop method and mentality.

John Sweeney has a couple of books worth noting if wanting to delve deeper; "Maximum Adverse Excursion". And the other "Campaign Trading"

Do you know where each strategy you apply maximizes profit and minimizes risk? Do you even have different strategies to apply in different market conditions or even markets for that matter?

Once you have isolated and analysed your strategies there is much cream to scoop off the top with simple tactical improvements. Though it does require effort to organise the data to work from. Not everyone will do that. And a question can be asked; are you a trader or hobbyist?

I won't go into the tactical details here as many starting points you can find in the abovementioned books and through experience. But let's get back to Tim's main point...living with his rules.

There are multiple ways to trade and trade well...but all you truly want is to trade true to yourself that is both profitable and enhances your growth, which in turn allows for many additional opportunities.

I could easily segue into the concept of letting the trade's come to you, but I shan't...the idea for the moment is finding the way to tighten your stops that maximises returns but that also builds your confidence.

There are many personality types that require different rules, but in general, the best way to start off is learning to love your stops.

A way that was helpful to me was learning to move my stops into razor thin levels that forced me to develop some scalpel like entry abilities. Though that was developing trading skills not necessarily about how I trade especially if you're a Position or large swing trader.

The point is that you start to see how you can improve your trading results simply based on tight risk parameters when wrong and easily be profitable even with a 10-20% win rate. Of course that's not the goal per se, but it does add to your confidence bank and therefore ability..

to stick to your trading strategy and tactics within the rule set you've adopted.

So let's just jump ahead and assume you've worked on that area and have discerned how best to set your stops and to apply it in your trading. Is it then easy to apply?

The answer is yes and no. And it will all depend on how you are trading in the moment versus trading based on fear or greed...or into today's favored terms FOMO fear of missing out, fear of losing, of not being right, letting a profit turn into a loss etc...

It's not always easy to be a robot when it comes to emotions and there are ways to improve that also, but the overall point is that once you have some details to work with and a somewhat refined way to set your stops, the application in your trading can naturally improve.

And that leads us back to Tim's point of letting the market do its thing and being happy with the outcome regardless.
Once this becomes the core of your trading, there's little that can rattle you off your nice perch with a view.