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Monday, 5 June 2017

Unforgivable Sins Of Disciplined Trader

Unforgivable Sins Of Disciplined Trader, Unforgivable, Sins, Of, Disciplined, Trader, Mistakes, Characteristics, Skills, Financial, Markets


Unforgivable Sins Of Disciplined Trader




Unforgivable Sins Of Disciplined Trader



There are many characteristics and skills required by traders in order for them to be successful in the financial markets. The ability to understand the inner workings of a company, its fundamentals and the ability to determine the direction of the trend are a few of the key traits needed, but not one of these is as important as the ability to contain emotions and maintain discipline.

The article outlines the predominant traits and the commonly mistakes the average trader makes in his journey to success in trading . What most traders do ? What most trader don't do ? What most of them should do? The answer lies in their trading discipline whether they have it or not .

We all know how important discipline is in our trading , even though most of the traders know that 95% of the importance of trading is in the mental and emotional part of our training ,not so much in where we buy and where we sell .The truth is that if you can sure up the discipline in your trading then you can make even a fair system profitable for you .

From working with thousands of people researchers have discovered that :
  •  Most traders are smart people : engineers ,college grads , educated .
  •  Most traders hop from trading system to trading system looking for consistent trading results , looking in the wrong place .
  • Most traders are frustrated , they spend a lot of energy without any success.
  • Most traders lose money , refund and start all over again . 
  • The majority of the traders went through the problems above , but there is also good news :
  • Most traders are trainable and willing to learn 
  • Most traders actually come to grips with why they are not successful .
The problem is not their trading system , it may be(in part) their trading plan , but the main problem is the trader Himself who is being the main solution .Some people say the problems are the raw material of the solutions.Traders are easily trainable, the human mind is a sponge waiting to be trained attitudes ,the trader needing just the right tools to do it .

The trader should look in the mirror and ask himself :" Why is it so hard to face yourself? Why is it so hard to take your trading discipline seriously as you take your trading system?" The trader has a hard time separating himself as a person from himself as a trader ,he should understand that having a losing day and following his system is a great day and that doesn't make him a bad trader , especially a bad person ; if the trader is hard on himself that means that he is mixing himself as a trader with himself as a person .He needs to judge himself as a trader in more of a business sense.He cannot take trading losses personally ,he must remember that trading is a business.
  
In the end there is really two things to master :
  • Your Trading Plan 
  • The Discipline to follow it .
Everything else is a distraction .Once you have a strong trading plan and the solid discipline to follow it everything else is going to be more fun in your life.
  
The Ten Characteristics of The Disciplined Trader are :
  • Strength to Pull the Trigger 
  • Overcoming Thoughts of Fear and Greed 
  • Trade to Make Money
  • Visualizing your Success as a Trader
  • Strength to take your losses 
  • Discovering your Core Values
  • Sustaining Focus 
  • Exercise Patience
  • Sustaining Discipline 
  • Stress Management 
If anybody wants to succeed as a trader , he must be a disciplined trader.


Unforgivable Sins Of Disciplined Trader