Mental Discipline

I get many emails from students and others who constantly tell me they cannot follow their own system. They lack the discipline to follow what they have previously set. This manifests in several ways. First is Over Trading where they jump the gun. The second is waiting too long and always looking for extra confirmation.

Over trading leads to many stop outs and reversals because the signal never fully develops. How many times have you jumped into a trade and had it go immediately in the opposite direction? Too many times I bet. Waiting too long when you get a good signal has you missing the move or having the move completed and you get a stop out reversal.

The answer is patience and discipline. My friend and a long time trader, Norm Hallet has the best training program around with the Disciplined Trader. I refer to it often because Mental Discipline is 90% of the trading equation.

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About Bill

I have been trading the eMini Futures market for over 20 years. As a venture capitalist, I got tired of waiting 7 years to see if I made any money. Education: a BS in Mathematics and Engineering Physics and an MS in Nuclear Engineering.

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