 Having that mindset that anything can happen is the structure that you have to have as your basis for your mentality when you're trading. So most traders don't wanna admit this. They wanna think, well, if anything can happen, then I don't have an edge and I can't make money. And that's not true. The cold hard truth of trading is that anything can happen, but that also does not mean that you can't have an edge and that you cannot make money in the market. The reality is that anything can happen in the market and that just means that you have to have a very strict criteria for how you manage your trades. And so let me talk about three fundamental structures that you have to have when you enter a trade. Number one, you have to pre-define your risk before entering a trade. Now I'm not saying you have to put in a stop loss. In fact, I never use hard stops when I'm entering trades in a platform, but you have to pre-define your risk to some degree. If you're trading an undefined risk strategy, you have to have in your mind at least a pre-defined level of risk before you enter a trade. Number two, you have to be able to cut your losses when the market tells you the trade isn't working. I mean, how many times have you found yourself in a trade where you got to a point where you knew the trade wasn't working, but you still didn't cut your losses and that trade continued to go against you and built up a loss that was much bigger than you anticipated ever taking. Okay, so you need to make sure you're cutting your losses when the market tells you the trade isn't working. And number three is you have to have a way of systematically taking profits. At Navigation Trading, we teach multiple different strategies for different types of situations, but one example is we've got a strategy that we call our mighty 90 trade. This is a day trading strategy that we only trade during the first 90 minutes after the market opens, and part of the criteria is for systematically taking profits is once we get in, we are going to take half of the position off once we hit a 10% profit. And then if the trade continues to move in our favor, we're gonna scale out and be completely out of the trade after we get two favorable bars in our direction. And in the strategy, we're trading five minute bars. So if we get two consecutive favorable bars in our direction, we're gonna be out of the trade. That's a way of systematically taking profits. So let me repeat those. There are three fundamental structures that you have when you enter a trade. Number one, pre-define your risk before you enter the trade. Number two, cut your losses when the market tells you the trade isn't working. And three, systematically take profits.