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Chapter 40, Graduation! Page 5

Discussion in 'Complete Trading Education- Forex Military School' started by Sive Morten, Dec 28, 2013.

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  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    It will not superfluous to remind you about patience and discipline

    Patience is one of the cornerstones of trading. You need time and patience to develop a trading system, to check it, to get experience, to enter and exit from trades and so on.

    Discipline is another keystone. In fact it means that sometimes you have to do some things that you do not want to do, or are lazy to do it. Follow to keep trading journal, follow to preparation procedure for every trade and daily routine, and follow to trading plan – just to name some of them. But for newbie traders very often it happens so, that a corner stone turns to stone of stumbling.

    You will see that to pass through some education course, book or e-school is much simpler, but applying them strictly with patience and discipline – that is a really tough task to do. That’s why not every person who has read the book becomes successful trader.

    Lack of discipline, patience and diligence leads to major destruction forces as impulse, gambling and gut-feeling trades, early profit taking, drag out loss taking and revenge sentiments. They do not encourage of survival of newbie traders.

    Here we have to recall the first statement about the journey. It will help you to stay on the way with discipline and patience. Trading is not “become rich tomorrow and give it up” – this is a gradual process. If you will move step by step diligently after some time you will see the progress and this will get you inspiration and encourage you to further success.

    Also keep in mind that the market will always be here tomorrow – don’t forget about getting enough rest. Second, that is more important – do not hasten to trade any possibility that you can. Keep only with your best ideas. If you do not have the necessary setup today – wait for tomorrow. The market is forming excellent setups and opportunities almost every day, so why we have to take worst of them?
     
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