December 29th, 2009

Why People Fail At Trading

Having worked with thousands of traders over the last 5 years… one thing is obvious…
Most traders have a good enough trading system to make money and the reason they DON’T is
that they lack solid trading discipline.  The traders that succeed in trading do the following;
they follow the trading strategy, they keep a journal, they track [...]

November 25th, 2009

A Trading Plan and Discipline = Keys To success

“Only a trader with a solid, tested trading plan and the total discipline to execute that plan,
in all its aspects, will be equipped to take advantage of market opportunities and be a
consistently successful trader. All others will fail.”
Now ask yourself a couple of questions.
QUESTION 1:
How many times have you done a little chart [...]

November 4th, 2009

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 [...]

January 13th, 2009

Be a Trade Taker Not a Trade Watcher (24 of 26)

This entry is part 24 of 26 in the series The Disciplined Forex TraderTraders can get depressed because they knew the market was going one way or another; however, they failed to enter the market. Usually the response as to why they did not put on a trade is that they were waiting to be [...]

January 12th, 2009

Be a Trading Machine (23 of 26)

This entry is part 23 of 26 in the series The Disciplined Forex TraderIf you have ever been around or seen manufacturing you know that the machines do the same thing all day long over and over again.  Each machine is good at what it does and if you ask a filling machine to put [...]

January 8th, 2009

Confidence & Control (21 of 26)

This entry is part 21 of 26 in the series The Disciplined Forex TraderKnowing you can do it BUILDS CONFIDENCE AND CONTROL. How nice would it to be to turn on your computer in the morning knowing that if you play by the Rules, trade with discipline and stick to your methodology, the probability [...]

January 6th, 2009

The Money Pile (19 of 26)

This entry is part 19 of 26 in the series The Disciplined Forex TraderMake a little bit everyday.  Make a pile of money.  Don’t and make a money pit.
When you can do this illustration in a demo account then start trading live.
Lets take a $1000 account for example:
Make $5 a day for 250 days a [...]

January 2nd, 2009

Use Time to Monitor the Loss of a Trade (17 of 26)

This entry is part 17 of 26 in the series The Disciplined Forex TraderYou can determine that you will get out of a trade before a news announcement or you will not carry a trade over a weekend.  These are good ideas if you are in a trade that is going against the trend.  Many [...]

December 31st, 2008

Become Good at Losing (16 of 26)

This entry is part 16 of 26 in the series The Disciplined Forex TraderWe get a lot of questions and comments about what this means.  You should know by now that you will lose sometimes when trading.  That does not mean you will lose all of your account unless you use poor money management techniques [...]

December 30th, 2008

Speculators Always Lose (15 of 26)

This entry is part 15 of 26 in the series The Disciplined Forex TraderI have never met a successful speculator. It is impossible to speculate and consistently have large wins. Don’t be a speculator. Be a trader.
Trading in the direction of the trend on a 1 hr or 4 hr chart is always a good [...]

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