This post is republished with permission from Nikhil Dogra from his site: Mourinho’s simple seven-point plan for winning big games (Applied to trading)
Mourinho laid out a simple seven-point plan for winning big games (which can be applied in trading)
Football’s 7 point plan can be applied to trading.
1) The game is won by the team who commits fewer errors.
(Trader who commits few error wins)
2) Football favours whoever provokes more errors in the opposition.
(Longer the trend higher is the chance of a fade of new highs/lows)
3) Away from home, instead of trying to be superior to the opposition, it’s better to encourage their mistakes.
(When capitalizing opportunities outside one’s expertise/skill set its usually a good call to follow superior risk management controls)
4) Whoever has the ball is more likely to make a mistake.
(More trades one makes ,more mistakes one can make by over trading)
5) Whoever renounces possession reduces the possibility of making a mistake.
(Anticipating trends rather than following trends aka contrarians have lower risk/higher reward)
6) Whoever has the ball has fear.
(After putting on a trade emotions are evoked)
7) Whoever does not have it is thereby stronger.
(Be selective in trades, avoid lower probability trades)