Four Thoughts on Discipline in Trading
We have summarized the comments of 4 traders about being a more disciplined trader.
A day traders comments: He is a consistent trader his accuracy was good but would have
a blow up one day a month and lose a lot of what he had made. When he realized that
being right is not the key to making [...]
The Power of Observation
One of the basic skills a trader needs to possess or develop is the power of observation.
They need to become students of observation. This skill of observing things does not
just apply when you are trading and looking at charts it will carry over in to the rest
of your life.
You might say I [...]
To Trade Disciplined That Is The Only Question
To Trade Disciplined That Is The Only Question
Personally,I think discipline is the first thing we should learn before doing anything,not just forex.But it is very hard
to get discipline for yourself.
If we are not disciplined in our daily living and as a human being. Than we will never be a disciplined trader. We need to
put everything [...]
Discipline
Discipline is the ability to be patient – to sit on your hands until your system triggers an action point.
Sometimes the price won’t reach your anticipated price point. At this time you must have the discipline to
believe in your system and not to second-guess it. Discipline is also the ability to pull the [...]
Objectivity
Objectivity or "emotional detachment" also depends on the reliability of your system or methodology. If you have a
system that provides entry and exit levels that you know have a high reliability factor, then you don’t need to
become emotional or allow yourself to be influenced by the opinion of others and outside sources who [...]
Buy Into Motion = Chasing A Trade
When a trader sees the market take off, then decides to place a trade, just because the market
moved a little bit in one direction or another he/she is chasing a trade thus buying into motion.
Never buy into motion. The reason is you see the motion, get excited, enter a position, and then
try to decide what [...]
Inside The Traders Mind
Over the next few week we will give you some of our thinking about why we are all different
in our trading success.
We have been asked what kind of results will we get with your trading system, what percentages
of success will I get?
Lets look at two traders. They have the same capital, [...]
THE PIP AUCTION GAME
Here are 4 fail-proof ways to solve the Pip Auction Game problem, and to guarantee that
you’re not going to play it again. You have heard this before, and it’s true, but until
now you still have not lived by this rule. You should never risk more for pips than they
are worth. You should [...]
NINE: Balanced Life Trading (9 of 10)
Click here for Post Eight of ‘What Trading Really Is’ Series
Trading is all about making money. If you are doing it for any other reason then you are doomed
for failure. You need to trade from good old mechanical thinking, which is a mark of a good
trader. You get a signal you make a [...]
Answer To A Traders Question #7
Question:
How much starting capital do I need to trade with (can I start with a small amount and work my way up)?
Answer:
There are several schools of thought on this. Some say you have to have at least $10,000 to start and it would be better if you have over $25,000. You should trade with a [...]
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