Knowing you can do it BUILDS CONFIDENCE AND CONTROL. How nice would it to be to turn on your computer in the morning knowing that if you play by the Rules, trade with discipline and stick to your methodology, the probability of a successful day is high. Knowing that you can grow your account even after a draw down will increase your confidence and make it less likely that you will have very many drawdowns. When you do have a draw down it will be a small one. When you become a mechanical trader your confidence will grow and the winning trades will flow. Remember the Rule: If you make a little bit every day, then you have earned the right to trade bigger. Thus, by following your Rules of Discipline, your little profit each day can soon turn into much more profitable days.
Confidence & Control (21 of 26)
by Kirk Norwood | Jan 8, 2009 | Disciplined Trader Series, Inside The Trader's Mind, The Disciplined Forex Trader | 0 comments