We take on a discipline to do something we don't naturally do or want to do. We set some rules that will be uncomfortable and ride out the restless energy.
Keep in mind that a good practice destroys itself, the whole point of a discipline is to get to the point where we don't need the discipline anymore. That is called transformation and it takes time.
By being...
As a day trader, I understand the allure of making your mark trading financial instruments. The idea of making quick profits and essentially being your boss can be incredibly enticing. However, the reality is that day trading is more challenging than it may seem. The statistics are alarming - the majority of day traders lose money. But why is that? Today, I will...
Im going to do a series of posts that are all about trade planning and learning about consistency and discipline through a practice. In this exercise, I will be consistently planning, executing what I planned, and documenting 30 trades.
A trade plan consists of a method, trade management, position sizing, documentation and review. A trade plan should state ahead...
Overtrading is a common issue in trading and can lead to significant losses. It occurs when a trader excessively opens and manages positions, often due to psychological and emotional factors. To avoid overtrading, consider the following strategies:
Establish a Solid Trading Plan: Having a well-defined trading plan is crucial. Your plan should outline entry and...
Mastering Emotional Discipline: The Key to Successful Investment Decision-Making
Introduction
Investing in financial markets can be an emotional rollercoaster. Fear, greed, and euphoria often cloud judgment, leading to impulsive and irrational decisions. One crucial lesson for successful investors is the significance of emotional discipline in investment...
1️⃣ Thou shalt have a trading plan:
Having a trading plan is crucial to my success in forex trading. By setting clear entry and exit points, as well as defining my risk tolerance, I am able to trade with discipline and avoid impulsive decisions.
2️⃣Thou shalt not risk more than you can afford to lose:
I understand the importance of capital preservation. I...
It is impossible to have a prejudice every day.
However, it is possible to designate rules, models and criteria in order to exclude decision-making on an emotional basis.
Notice, research and record everything that happens before, after and during each of your trades. Pay attention to the time period when errors occur and analyze all the details: triggers,...
Forex trading can be a profitable and exciting way to invest money, but it also requires discipline and patience to succeed. The key to becoming a successful forex trader is to only take the best setups and to stay disciplined in your trading approach.
The first step to staying disciplined in your forex trading is to have a solid trading plan. A trading plan...
Hi and welcome back! As a trader, you have probably at one time heard about the Turtle Traders, right? But what was it, and what can we learn from it?
Let me take you on a journey into the fascinating world of the Turtle trading strategy! 🐢💰
This legendary trading experiment, conceived by two master traders, Richard Dennis and William Eckhardt, in the 1980s,...
In order to be successful in any market, it is essential to have trading discipline. This blog post will discuss what trading discipline is, why it is important, and how to improve it. Having self esteem and a positive outlook are crucial for any trader, as well as being able to stick to your trading plan. There are no shortcuts to success, so traders need to be...
1. Not having a trading plan: A trading plan is a set of rules that outlines a trader's entry and exit points, risk management strategy, and overall trading approach. Without a plan, traders are more likely to make emotional and impulsive decisions.
2. Not managing risk properly: Risk management is crucial in trading, as it helps to limit potential losses and...
Trading in the financial markets, whether it be forex or cryptocurrency, can be a thrilling yet challenging experience. It requires a level of strategy, discipline, and risk tolerance to make informed decisions and reap profits. But, as traders, we are often faced with fears that can cloud our judgment and hinder our success in the market.
To help you overcome...
1. Not having a trading plan: A trading plan is a set of rules that outlines a trader's entry and exit points, risk management strategy, and overall trading approach. Without a plan, traders are more likely to make emotional and impulsive decisions.
2. Not managing risk properly: Risk management is crucial in trading, as it helps to limit potential losses...
🟩 Checklist is the necessary and essential part of your trading plan 🟩
If you already have a trading plan - that’s really great. Now it’s time to take one step further and create a checklist. You will refer to it before each and every trade, and you’ll enter only if 100% of the checklist is present.
You can have different kinds of trading plan, it can have 5 or...
1. Trade according to the system.
2. Keep statistics.
3. Have strict risk management.
4. Adapt to the market.
Trade according to the system
When you trade without a system, it's gambling. Usually, when you ask a beginner why he has opened a position, he uncertainly begins to refer to the fact that someone gave him a signal, or that he thinks it's time for...
Hey Traders,
Most traders battle it. I myself had to progress past this in order to achieve consistent returns trading the markets. It is seen as one of the hardest challenges to pass in terms of emotional discipline. Understanding yourself better so you can make decisions in a calm, composed and consistent manner is crucial to success.
Today I wanted to...
Hey all! Happy Sunday.
I did this video already but it failed to upload so here it is again.
In this video I focus on helping traders create discipline in their trading, discipline is a vital component for success, so I really hope this video helps you guys find it in your trading and life!
Good luck with the new trading week!
Key to become consistently profitable trader is to be patience and discipline
Don't ever bend the rules thinking it will work just as well. it won't
Don't be greedy. No matter how good the trade setup looks, stick to your rules and your predetermined order size.
Trading can get boring, there are many times when nothing is happening in the market. Have patience...
