hi my day 2 I was discipline enough to execute my trade. A win also. I left my order with the broker, think much better. guess it help me with my discipline if I post my discipline here anyway now I leave it to the broker to execute
For one thing, discipline cannot be learned - it is trained. To me discipline comes from experience like many many painful losses over the years.
Traders are alot like athletes. To repeat what I posted in a similar thread topic: Train like a batter or golfer. Try to make the adjustment to your basic swing to get the desired effect under different conditions. A suggestion would be to take random 3 month periods of historical data. Trade each period of data several times to see if you come up with the same triggers, stops, profit targets etc. Helps to stay focused. Much Success,
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ [1] Dr. Tharp books help; Do you have a written business plan like a contract????? [2]Benys ; I had trouble at first cutting losses,suprised me because had a lot of discipline all my life. [1 again]However writing out a business plan and writing and ------------------------------------------------------------------------ speaking ''Cut your losses and let your profits ride thousands of times helped. Focus and do the solution;dont focus on the problem. ---------------------------------- Never made the mistake of calling myself a ''lousy trader'' [3] Wisdom involves doing;at least we have an identification of the problem. Disciplined traders are in the habit of doing; good habits are hard to break also. [4] DON"T focus on the problem like calling yourself a'' lousy trader''; redo reread number [1] again [5]An oral business contract is worth nothing; the weakest ink is better than strongest memory. ''Wisdom is the principle thing therefore get wisdom ''-Solomon
my 3rd trade since I started this post. System has a short. My order is in, put in a stop loss order was stop out everything work accordingly to the system. This is just another losing day. Was watching the market see it too high got to back off. Went short (no system gut feel this time) stop out again. Went short again almost immediately 2 lots this time. Market goes higher. All 4 trade end up losing. My system today only had 1 losing trade. I short 3 more lots on my own. Help somebody help. I started to see I am in deep deep shit. This time my profit in Apr and May this year is all gone. I am back to 0. I need to start all over again.