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Why do some traders seem to find it easy to be successful, and others find it so difficult? What are the successful ones doing that appears so elusive to the 95% that are losing? Is it the trading system? Is it the money management approach that makes the difference? Do they know something I don’t? Are they insiders and I’m not? Why can’t I be like them? Of course, it’s a number of factors that play their part. You have to have a positive expectancy trading system. It is a must that you install proper money management into your trading system. It is also required that you be properly financed which in turn reduces the fear factor from your trading. It is all these elements that must be met before you even have a chance at making it in this business. Other than that, I believe there is one over-riding ingredient that we have to take into consideration. And that one factor is called discipline. You have the system, you are aware of the risk% to equity that you must keep as low as possible, you are properly financed and know that if you trade properly you have the beginnings of a fine future, but, you are not sure of your intent and the ability to follow the rules to the extent necessary. This discipline thing must be ironed out before you even start trading. You must have it in your head that if you are going to trade a particular objective trading system with a particular money management approach, that, without fail, you are going to follow and obey all the rules that are laid out for you. You are not going to deviate. You are going to take all the trades that the system requires and sets out. You are going to place your stop loss where it is dictated. You are going to exit your trades at the targets stipulated by the system. You are going to know the rules inside out and you are going to follow them – 100% of the time. You are never going to chicken-out on a trade and take a profit before the system says to. You are never to move your stop except when the system dictates that you do so. You must make the determination to be disciplined even before you place your first trade. If you are already trading and have not determined to follow this discipline approach, then do so now - before you make your next trade. If you have trouble coming to this conclusion, stop trading for awhile until you can be comfortable with this new trading approach. Subjective interference on your part is one of the greatest reasons why traders fail. The only time you will have to make a personal decision, is if and when you have lost 50% of your starting equity. That is the time to stop trading. Try paper trading until the market turns in your direction again. Rethink the basics of your trading system and make sure your money management is operating properly. See if there are any positive improvements you could make. Trading with discipline will reduce the stress factor, will allow you to have more fun at this game and will definitely improve the bottom line while at the same time allowing you to weather the inevitable drawdowns that occur with all trading systems. You know you will be around to trade another day, no matter what happens. ----------JUST TRY IT---------- Good Luck…...
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