Discpline your way to daytrading riches
Discpline your way to daytrading riches
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Skillful traders exhibit a knack for discipline. Rules, systems, followthrough are all marks of a good trader. In order to correctly judge your circumstances you have to create a disciplined mindset in order to make good trading choices. Plan your trades and trade your plan. Develop a core group of trading strategies and stick with them until you know them well enough. Trade consistently and you can be a winner. Is judgement necessary? It is, but within the criteria of your trading plan. As president knucklehead - i mean Bush once said - ‘How can one lead without firm conviction - no matter how stupid or irrational that conviction is?’
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Always check your results. For why trade if you do not analyze your trades? You can learn from winners and losers. You can tweak your trading plan. You can fine-tune your techniques. And most of all, you can adjust your attitude and your ability to discipline yourself.
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If you wake up angry, don”t go around making ‘angry trades’. If you wake up happy, don”t go around making ‘happy trades’. Emotions have no part in day trading and if you become overly emotional you will almost certainly fail. You will be a huge loser and will have nobody to blame but yourself. Yes, you.
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Sure, you might succeed in a small way. But who are we to play small? And who are we not to shine? You can shine in your daytrading and make lots of money. Soon you will buy that beautiful house and car. Soon you will have that beautiful wife. Soon the children will come asking for shiny shoes while you pull your hair out keeping the discipline of your newfound trading techniques that got you into this whole mess to begin with.
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Do not complain to me about your Forex trading fortunes. I didn”t tell you to trade. I just said, ‘hey, it might be a good idea if you want to make some serious moolah.’ And stop calling me. I can”t help you any more than I have. Those are YOUR kids, not mine.
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