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Trading discipline is a pretty broad term, and there can be literally thousands of reasons why traders lack discipline, but over the years I've narrowed it down to a few key moments and issues that cause traders to lose their discipline or never be able to find their discipline in the first place. Not Able To Accept Losing Trades: This is probably by far the most common of all the reasons. I struggled with this in my trading because I (somehow) went for 2-3 months when I started trading without a single losing trade. Many other traders have winning streaks, and then when a losing trade comes their way (which it always does) they don't know how to react or handle it. The trader then ends up altering their trading plan, changing their mental state, and becoming increasingly alert and nervous; Before they know it, they've deviated from their trading plan and have lost their trading discipline. Not Having Confidence In The Trading Plan: This is the second most common of all the reasons. Many traders simply don't trust their trading plan or don't trust their ability to execute their trading plan properly. This is a huge problem as the trader then second guesses every single decision they make and every signal they get from the trading strategy. This is probably the best opportunity for the trader to step back and either learn a new strategy or step back and reinforce their current strategy. A great tool to help traders overcome this step is our ...[Click Here To Continue Reading...] |
PBS Inside The Meltdown
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Have a great trading day! |
An Introduction To Price Action Trading
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Price action trading incorporates price movements and supply/demand levels to help us understand where we should place our trades. Price action trading means we don't utilize indicators in our trading, but rather we focus on two main things: 1) Crowd Psychology and 2) Price History. Crowd Psychology Markets are very psychological. When we see the market crash 400 points, most traders hit the sell button and panic. When we see price respond to a strong area of support/resistance, traders remember this area of it becomes psychological. Crowd psychology is just that--understanding how the market works to read the psychological state of the crowd and make trading decisions accordingly. Through our Price Action Trading course we teach you exactly how to read the markets and spot different psychological events in the market to help put you ahead of the rest of the traders. Price History Price action trading is also very technical and deals with reading price history. Most traders think they know everything there is to know about support and resistance already, but the truth is reading price history isn't as easy as most people think. There's a lot more that goes into understanding a chart than just drawing some basic support and resistance lines, and price action trading goes that extra step to explain not just what is happening but explain how and why it happens so you can make good decisions in the future. Our price action trading course teaches exactly how to read price history and make better analytical decisions in your trading. If we had to pick just one word to describe price action...[Click Here To Continue Reading...] |
