Two Big Trading tools (1 of 26)
This entry is part 1 of 26 in the series The Disciplined Forex TraderThe first tool is your trading system or the methodology you use to enter an exit the market, your trading system. You need to be very good at the trading system before you can enjoy any success as a trader. Once you [...]
December 9th, 2008You get paid to wait (2 of 26)
This entry is part 2 of 26 in the series The Disciplined Forex TraderWhen you are waiting for the market to set up and give you the proper entry or exit signals you are showing discipline. When you exercise discipline you will make more money and lose less money. There is one constant truth about [...]
December 10th, 2008Chasing the Market (3 of 26)
This entry is part 3 of 26 in the series The Disciplined Forex TraderWait for the market to come to you 100% of the time to prove that you are disciplined. If you chase the market then you are not disciplined. If a trader says he waits for trades but anticipate the signals and [...]
December 11th, 2008Always Scale Back When You are Trading Poorly (4 of 26)
This entry is part 4 of 26 in the series The Disciplined Forex TraderWhen things are not working out for you cut down on the size of the lots you trade until you get back on track again. All good traders will follow this rule. Why continue to lose on five lot trades when you [...]
December 12th, 2008Never Turn a Winner into a Loser (5 of 26)
This entry is part 5 of 26 in the series The Disciplined Forex TraderHave you ever done let a winner turn into a loser? We all probably have especially in the beginning of our trading careers. This is one of the first steps in learning how to manage a trade and use good money management [...]
December 16th, 2008Keep things in perspective (6 of 26)
This entry is part 6 of 26 in the series The Disciplined Forex TraderKeep a trade log or journal of your trades for the day or week. If you know that your biggest winner is 50 pips then do not allow a losing trade to be larger than 50 pips. If you do allow [...]
December 17th, 2008Develop a trading plan and Stick with it (7 of 26)
This entry is part 7 of 26 in the series The Disciplined Forex TraderDevelop a trading plan and Stick with it. Do not change your trading plan from day to day Just like a business needs a plan a trader needs a plan. Write down the specific market prerequisites (setups) that must take place [...]
December 18th, 2008Develop Your Own Style (8 of 26)
This entry is part 8 of 26 in the series The Disciplined Forex TraderDevelop your own style don’t try to be like someone else. You have to be comfortable with the way you trade. It is very hard to try and trade like someone else. For example if you get to the point were [...]
December 19th, 2008Be Able to Trade Another Day (9 of 26)
This entry is part 9 of 26 in the series The Disciplined Forex TraderYou always want to be able to trade another day.
If you really want to trade then you should never put yourself in the position where you have lost your trading capital. One of the most frustrating feelings is when you want to [...]
Develop the Skills to Trade Bigger (10 of 26)
This entry is part 10 of 26 in the series The Disciplined Forex TraderYou need to develop the skills to trade bigger. New traders should trade at their skill level not their pocketbook or trading account level. The new trader should not trade with 10-20 lots per trade just because they have the money. [...]
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