Discipline Will Make Or Break You
2 Types of Discipline: Strategic & Emotional
STRATEGIC DISCIPLINE
EVERYTHING THAT WE TEACH YOU ON OUR STRATEGY PAGE AND TRADING LIVE
Our Top 3
Get In Clean
Properly entering a trade is as important as it gets. If your not in clean it’s best to wait for the next good opportunity.
Know Your Stop Loss
Either physically set your stop loss or psychologically know what it is. Remember that losing trades is normal. The goal is to take small losses and capitalize on the winning side.
Protect Profits
When you are in a favorably moving trade, take profits along the way. The NQ swings can turn quickly on you. Pigs Get Fat, Hogs Get Slaughtered!
EMOTIONAL DISCIPLINE
Keep Emotions Out
You don’t need to be a robot, a big win makes anybody happy. If you are propely trading with your stop loss it is easy to get frustraded if you lose a few in a row or have a red day. Let that type of emotion go and stick with the plan.
Don’t Force A Trade
Patience, Patience, Patience! There are multiple good entries on the available trading days. Let them come to you and you will be rewarded.
Trust The Process
Using strategies that have been proven time after time we know to TRUST THE PROCESS. This is a common struggle for new traders but once they get over this hurdle it is green pastures ahead.
FOMO
One of the very first emotions that you need to block out when trading is THE FEAR OF MISSING OUT! It’s human nature wanting to jump into a trade that’s moving fast and making other people money. Unfortunatley the market is set up to hurt the ones who enter late. You will be much more profitable by ignoring that run and simply look for your next good set up.
Never Chase Losses
The fastest way to lose your money is to start chasing your losses. Stick with your plan and trading size. Stay on track, stay disciplined.
CONCLUSION
Practice Discipline
Every day that you are trading practice all of these disciplines. keep track of what you did right and what you did wrong on each trade until you know that you are a DISCIPLINE TRADER.