Sunday, 19 February 2012

BE DISCIPLINED EVERY DAY, IN EVERY TRADE

BE DISCIPLINED EVERY DAY, IN EVERY TRADE, AND THE MARKET WILL REWARD YOU. BUT DON’T CLAIM TO BE DISCIPLINED IF YOU ARE NOT 100 PERCENT OF THE TIME




Being disciplined is of the utmost importance, but its not a sometimes thing, like claiming you quit a bad habit, such as smoking. If you claim to quit smoking but you sneak a cigarette every once in a while, then you clearly have not quit smoking. If you trade with discipline nine out of ten trades, then you cant claim to be a disciplined trader. It is the one undisciplined trade that will really hurt
your overall performance for the day. Discipline must be practiced on
every trade. When I state that the market will reward you, typically it is in recognizing less of a loss on a losing trade than if you were stubborn and held on too long to a bad trade. Thus, if I lose $200 on a trade, but I
would have lost $1,000 if I had remained in that losing trade, I can claim that I saved myself $800 in additional losses by exiting the bad trade with haste.

1 comment:

  1. I would advise that you pick the most recommended Forex broker - AvaTrade.

    ReplyDelete

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