Chat Here

Add My Banner!!


- Friends Link -

Promote Your Blog

Saturday, September 12, 2009

Be Disciplined Every Day

You have to be disciplined in The Market. Trading with discipline will put more money in your pocket and take less money out. The one constant truth concerning that discipline = increased profit. Not claimed that you are disciplined if you are not 100 percent every day!! Being disciplined is of the utmost importance, but it.s 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 can.t 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.