When it comes the time to update your stock trading methodology, these three words are highly applicable. The words are known as the “waste hierarchy”. Upgrading your methods means doing exactly as the three words sequence demonstrate.
First you reduce your methods, then reuse them, and finally replace them. Let’s elaborate.
It is pretty much synonymous with improving efficiency – and represents the fastest path to mitigating the methods environmental impact. Reduce requires looking at established processes and remove obvious inefficiencies. Looking smartly to reduce inefficiencies in current methods will improve your edge in trading.
It means looking at existing processes and tuning them to do the work of sustainability. Keep core parts of existing methods which are good fit to your personality.
It means supplanting outmoded systems and processes with more modern and more efficient solutions. Incorporating new methods will tune your methods to the changing market.
Reduce, reuse, replace. It’s about doing smarter trading business. Happy trading!