Trade discipline

Trade disciplineJanuary 2, 201415.40 gmtThis morning my system gave a short signal in EURUSD and I exited my EU long at 1.3762. I didn’t flip since I already have an $8/pip short at an average of 1.3668. For a moment, I contemplated adding to my short, but decided against it on the grounds that it would make my EU exposure too large. Good risk management discipline.Since then EU has fallen almost 150 pips today. I wish I had added to my shorts. But then I remind myself to be patient and focus on the trade, not the money. As long as I trade well, the money will add up. This is a difficult discipline to master, I can attest to it. But my goal is long-term consistent profits, so …

via Zen and the Art of FX Trading:

15.40 gmt

This morning my system gave a short signal in EURUSD and I exited my EU long at 1.3762. I didn’t flip since I already have an $8/pip short at an average of 1.3668. For a moment, I contemplated adding to my short, but decided against it on the grounds that it would make my EU exposure too large. Good risk management discipline.

Since then EU has fallen almost 150 pips today. I wish I had added to my shorts. But then I remind myself to be patient and focus on the trade, not the money. As long as I trade well, the money will add up. This is a difficult discipline to master, I can attest to it. But my goal is long-term consistent profits, so I’ll stick to my discipline and trade well.

Good luck to you all!

For more info: Trade discipline

Zen and the Art of FX Trading

Trade discipline

The post Trade discipline appeared first on FX FOREX.

via WordPress http://www.evvi.net/4672/forex/trade-discipline.html



Forex, discipline, eurusd, facebook, forex, print, that-it-would, trade, trades

The Four Biggest Mistakes By Traders: Failing To Control Risk: Part …

The Four Biggest Mistakes By Traders: Failing To Control Risk: Part IIIBy: Chris Vermeulen | Tue, Dec 31, 2013SharePrintEmailThis is part three of a five part series of the four biggest mistakes traders and investors make which costs them time, money and usually self-confidence when trading stocks, ETF’s or futures trading strategies.The Four Biggest Mistakes1. Lack Of A Trading Plan – Part I2. Using To Much Leverage – Part II3. Failure to Control Risk4. Lack Of Self-DisciplineMistake #3 – Failing to Control RiskIf you were to engage in something risky like skydiving, you or a team would check your parachute to be sure its packed properly, strapped on to your body correctly before you jumped out of the plane. If for some reason you were not told how …

via traders – Google Blog Search:

This is part three of a five part series of the four biggest mistakes traders and investors make which costs them time, money and usually self-confidence when trading stocks, ETF's or futures trading strategies.

For more info: The Four Biggest Mistakes By Traders: Failing To Control Risk: Part …

traders – Google Blog Search

The Four Biggest Mistakes By Traders: Failing To Control Risk: Part …

The post The Four Biggest Mistakes By Traders: Failing To Control Risk: Part … appeared first on FX FOREX.

via WordPress http://www.evvi.net/4665/trading/the-four-biggest-mistakes-by-traders-failing-to-control-risk-part.html



Trading, author, body, chris, discipline, financial, industry, logic, market, trading