After extensive experience in trading, if I had to summarize all my insights so far in one word, I had a definite answer - discipline!
According to Wikipedia, The word discipline: "action, form of behavior, or set of rules them have a group of people, sometimes against their own nature, for a particular purpose."
The emphasis is that we need to act against our natural inclination, because, our natural inclination is working against us.
According to Wikipedia, The word discipline: "action, form of behavior, or set of rules them have a group of people, sometimes against their own nature, for a particular purpose."
The emphasis is that we need to act against our natural inclination, because, our natural inclination is working against us.
Discipline will allow us to be successful, it will allow us to:
1. Enter the correct format for trade only when all the conditions for our own good (and not directly upon receipt of a trading account at the beginning of the day, etc.).
2. Set rules and stick to them.
3. Perform a demo trading strategy and not make a new trial and for real money.
4. Stop loss and take profit predefined points.
5. Contain the pain of a failed trade, to admit a mistake and wait for the next trade.
6. Close the trading day when we feel that this is not our day.
7. Go on vacation, without any open position in the market.
8. Give a good trade to work and not interrupting at the beginning.
9. Prepare for a trading day by making a neat technical analysis at multiple levels of time (daily, hourly, 5 min).
10. Remove the excess energy by physical activity and trade with a minimum of adrenaline.
1. Enter the correct format for trade only when all the conditions for our own good (and not directly upon receipt of a trading account at the beginning of the day, etc.).
2. Set rules and stick to them.
3. Perform a demo trading strategy and not make a new trial and for real money.
4. Stop loss and take profit predefined points.
5. Contain the pain of a failed trade, to admit a mistake and wait for the next trade.
6. Close the trading day when we feel that this is not our day.
7. Go on vacation, without any open position in the market.
8. Give a good trade to work and not interrupting at the beginning.
9. Prepare for a trading day by making a neat technical analysis at multiple levels of time (daily, hourly, 5 min).
10. Remove the excess energy by physical activity and trade with a minimum of adrenaline.
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