My thoughts on expectations and ‘conviction’: When I put a trade on, I approach it with very tempered expectations, and little conviction in it being a winner. What I DO have conviction in is my ability to manage risk fast. This matters most. If I can do that job right, I’ll put myself in a position to let the upside take care of the rest. Many times, the ‘nicer looking’ setup fails, and the one I thought may give me trouble, works. Why? As the great Mark Douglas says, “every trade has an uncertain outcome”. When you’re new, you crave certainty in this business. You eventually realise it doesn’t exist. The certainty I care about is that I will ALWAYS manage risk as best I can.