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 [...]
October 28th, 2009The 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 [...]
August 24th, 2009To 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 [...]
July 24th, 2009Discipline
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 [...]
July 22nd, 2009Objectivity
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 [...]
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