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Ways to Acquire Discipline in Trading
One way to acquire discipline in trading...
"Hey Joe! When you were teaching us at our Forex office in Florida, you stressed discipline. Our head trader stresses discipline. What I want to know is if discipline can be acquired or is it just something you are born with? I'm having trouble finding it in myself." - trader -
Personally, I believe discipline can be learned, although at times it is very painful. When I began trading, I was a very undisciplined person. But trading and the markets forced me to become disciplined. Was the discipline already there and just needed to be extracted? Or did I actually learn it? I can't truly be sure.
One of the largest trading firms kept their offices near Yeshivas. A yeshiva is a rabbinical school that produces rabbis of the Jewish religion. The students coming out of the yeshiva were highly disciplined and made excellent traders. Was the discipline innate in those yeshiva students? Or did they learn it under the strict supervision of the rabbis who controlled their lives? I think they learned it.
I've mentioned previously that it can help to keep a journal if you want to learn discipline. The journal I kept was very basic and included what trades I made during the day and my reasons for getting into the trade. It is what I did with the journal that helped me to be disciplined. Anyone can make entries into a journal. I let the contents of my journal keep me in line. It became my supervisor. I took to heart what I wrote there. I no longer keep that kind of journal because it has served its purpose in making discipline into a habit in the way I trade.
Joe Ross, trader, author, trading educator is one of the most eclectic traders in the business. His 47+ years include position trading of shares, and futures. He day trades stock indices, currencies, and forex. He trades futures spreads and options on futures, and has written books about it all - 12 to be exact. Joe is the discoverer of The Law of Charts?, and is famous for the Ross hook? and the Traders Trick Entry?.
Trading Educators, Inc.
The Team at Trading Educators is composed of an international blend of experienced traders, all educated and proficient in the Joe Ross methods. Our professional staff trades regularly in the markets.
Since its foundation Joe Ross and the Team at Trading Educators have taught thousands of satisfied customers who use Joe's concepts to produce significant profits in today's markets.
Forex Brokers - Helping to Maximize Your Success
A Forex broker is a broker dealing in foreign exchange, just like real estate broker who deals in real estate and properties. Simply, a Forex broker is an advisor who advises you about the forex market.
The following situation happens quite often to many traders. Look it over and see if it has been happening to you:You have been faithfully following your trading plan and the rules you've set for trading.
I read on a bulletin board a traders comment that on his first outing trading the E-Mini S&P 500 he lost on each of his trades. He noted though, that had he had a wider stop each of his trades would have been profitable and that therefore he would be trading with a wider stop in future.
Day Trading Course or Day Trading Technique Seminar: Learn Day Trading Education
Profitable day traders recognize that momentum trading is among the fastest & most effective ways to harvest BIG piles of cash in the stock market.The problem is that if you don't know what stocks to look for and how to approach them while limiting your risk, you won't even get close to making some profits.
Stocks Trading - Advantages and Disadvantages
What is Stocks Trading?Companies throughout the world issue new stock shares every day. They do so to raise capital in order to invest in the business.
Assessing the Opportunities Presented by the New Iraqi Currency
Could it be possible that you are staring right into the most spectacular financial opportunity of the century? Operation: Iraqi Freedom will undoubtedly be a war marked in history for loss and tragedy, American victory, and the rise of a nation with a new democratic government. But could it also be a war historically remembered for the financial opportunity it created for the sharp investors who keenly recognized an ephemeral chance at the right time?The War on Iraq ended with a nation placed on the footstool of many new operations.
How To Control Fear And Greed In Trading
There is an old saying that the market is driven by fear and greed. Anyone that has placed more than a couple of trades will surely have experienced these two emotions.
Forex Training: Follow Your Gut or Your Broker
Which way will the forex market move? Do you just follow your gut feeling? Or do you have Neo's sixth sense that would let you be one with the market and feel the underlying currents.Trading forex is a non stop action movie but a good one, where you really don't know who will win at the end.
Where is the Market Going?
If you ask me whether the market will have moved up or down by this time next year, well I may as well flip a coin, because I don't know.If you ask me whether the market will have moved up or down by this time next month, well again, I may as well flip a coin, because I still don't know.
Learn Forex Trading - a Guide for Beginners
One can learn forex trading as easily as one would like to learn other subjects or train in other professions. The criteria for learning forex trading is an analytical / logical bent of mind and some number crunching abilities.
Business and the Forex
The business world is a complex web of supply and demand. Money and goods, physical or otherwise, pass through the global market every single day.
Online Futures Trading - Advantages and Disadvantages
What Is Online Futures Trading?A futures contract is an agreement to buy or sell a commodity at a date in the future. Everything about a futures contract is standardized except its price.
Forex Scams: How to Spot Them A Mile Away
In recent years, investors have witnessed increased number of investment opportunities and offerings. While the complexity and success of these investment products vary, technological innovation has made the Forex market one of the fastest growth areas.
Options Trading - Advantages and Disadvantages
What is Options Trading?An option is simply granting someone the right to buy or sell something in the future. In the case of Dow index futures options, when someone buys a Dow call option they are buying the right to purchase that underlying Dow future at a specific price, known as the "strike price," at a future point in time, known as the "expiration date.
Forex Signal, Forex Signals Advice
There are lot's of Forex signals providers out there. New Forex traders might be thinking of looking for a reliable Forex signals provider.
Day Trading Success- The Key Is Survival
Most new traders tend to focus just about all their time and energy on finding nearly perfect "setups", but trade setups, even very good ones, are *not* the key to successful trading. It's the *way* you trade your setups that keeps your losses smaller than your gains.
Writing A Trading Plan
All professional traders have a trading plan. Trading futures is a zero sum game and those with a plan (and the discipline to apply it) will succeed over those that have no plan.
Money Management, Part 2
FEARING LOSSESThere is a huge difference between being risk averse and fearing losses. You must hate to lose.
Forex Trading Can Be Like Day-trading
Forex trading, or foreign currency trading, has become a bit of a craze of late, especially since it is something available to anyone who owns a computer. And anyone who is willing to put in some training time can profit from forex trading.
Day Trading the Index Futures - How to Judge Good Entries
QUESTION: If the SP futures fall through support and go straight down for another two points, and I want to get short, should I a.)enter immediately, b.
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