Trading Discipline – In Just 3 Minutes!

March 29, 2010 by  

One of my mentors, Norman Hallett, the Internet’s top authority on trading discipline, has just let me know about something new that’s he done.

In fact, he’s done two things.

ONE… He’s polled 1772 traders on what’s REALLY getting  in your way of being DISCIPLINED in your trading. And in response to what he’s discovered,  he’s recorded 3 short audios (3 minutes each) tackling the most important 3 issues reported by traders:

- Stopping the “Blowout Trade”
- Having the Strength to Pull The Trigger
- Taking Your Losses without Hesitation

and TWO… he’s just GIVING these audios to you – complimentary – available for just a day or two – to get some buzz going for his upcoming class. Read more

Mental and Emotional Stability

March 22, 2010 by  

The goal of trading discipline is  mental and emotional stability which  reveals crystal clarity about all aspects of trading.

It is generally approached from the viewpoint of controlling thoughts and emotions, becoming fairly dispassionate and neutral in order to execute successful trades.  Avoiding  getting  swept upon  the sea of emotions as we are deciding when to enter or when to exit,  speculating as to where  the market  is going to go next.

One scientific estimate says that we have on average 60,000 thoughts per day.  If that is true then it is an impossible task to control those wildly active viewpoints in response to what we are observing and experiencing throughout the day,  let alone the heat of trading.

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We Know What To Do

February 1, 2010 by  

We have  four  sound  strategies that allows us to trade a bull, bear or sideways market as well as trend reversal.  Along with that, mental and emotional stability is the foundation upon which a strong consistent, trading plan is executed. We remain  alert and clear, watching and listening for what the market is telling us. We are not guessing, speculating, hoping or wishing. We are not caught up in the emotional  storm.  We are confident in knowing what direction to put our attention and then use the appropriate plan.  As we now have reason to look for short trades on our watch list we can be confident in  our strategy. At the same time, we are always watching for signs of change or reversal.

Be The Observer

January 25, 2010 by  

Two days of triple digit declines and the stock market has given back all the gains of the new year.A big week for the sellers makes it very tempting to decide what the market is doing and getting swept up in a tsunami of emotions. Read more