1. Poor self discipline is the quickest
way to lose money. A good trader with a poor plan will outperform a bad
trader with a good plan.
2. Discipline is the bridge between goals and accomplishment.
3. You are not gambling, you are trading, this is a business treat it like one.
4. Your job is to take calculated risk. Calculated is the key word, what does your research tell you your system will do?
5. Forgive yourself for making a mistake and move on. Don't repeat the same mistakes.
6. Reach a stage where you can control your emotions. You can do that by ensuring your plan works and if a trade does not go your way that's just one of those things. You will not always have winning trades.
7. Set achievable, measurable goals. Percentage winning trades and numbers of pips. Average wins and average losses will influence these numbers. If an average win is 150 and an average loss 15 you need far fewer winning trades than if your average win is 30 and your average loss 15.
8. Do not give yourself undue pressure trying to trade on a full time basis too early in the game. Act in your own best interests.
9. You cannot control the market, you can only control yourself and react to what the market gives.
10. The market will do what it wants to, not what you want.
2. Discipline is the bridge between goals and accomplishment.
3. You are not gambling, you are trading, this is a business treat it like one.
4. Your job is to take calculated risk. Calculated is the key word, what does your research tell you your system will do?
5. Forgive yourself for making a mistake and move on. Don't repeat the same mistakes.
6. Reach a stage where you can control your emotions. You can do that by ensuring your plan works and if a trade does not go your way that's just one of those things. You will not always have winning trades.
7. Set achievable, measurable goals. Percentage winning trades and numbers of pips. Average wins and average losses will influence these numbers. If an average win is 150 and an average loss 15 you need far fewer winning trades than if your average win is 30 and your average loss 15.
8. Do not give yourself undue pressure trying to trade on a full time basis too early in the game. Act in your own best interests.
9. You cannot control the market, you can only control yourself and react to what the market gives.
10. The market will do what it wants to, not what you want.
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