THREAD: One needs to think of "execution" in #trading as a holistic process. It involves "analysis", pre-planning, as well as the game time decisions. And in the end the score is what really matters...and not just for a single game, but for each game throughout the season. (1/5)

Like a basketball game u need a gameplan, but that's not enough & meaningless on its own. Even if your analysis is perfect in mapping out opportunities to exploit in your competitor (mkt), it means nothing if u dont actually execute it during the game & put up a real score. (2/5)

Now, the precise "how" of putting up the score, the shots you actually choose to take (or not to take) during the game, whether you stick to your plan, is the PROCESS and it's important because it determines SUSTAINABILITY and REPLICABILITY throughout the season... (3/5)

...for example, shooting a 3-pointer from half court still contributes to your score, it might even win the game (turn your trading day 'green'), but it's certainly NOT a sustainable or replicable way to play the game over time (it's good outcome, bad process). (4/5)

...and developing a game-plan that is perfect in hindsight adds nothing to the score directly. You need both components in alignment. This is what I mean by execution. And execution is playing the game, not riding the bench and calling the shots. Execution is trading. (5/5)