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The Key To Successful Trading Is Discipline |
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Most of the best traders I know are consistently successful because they hate to lose money and are motivated by fear. They respect the market like a sailor respects the ocean. Good traders know that they must contain a loss immediately and then focus on making money on other trades. The discipline is to move "paper" continuously and not fall in love with positions. Good traders don't look back; they only move forward. Trading to them is as natural as breathing and as automatic as walking. |
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The formula for success is making correct decisions, which includes taking profits and containing large losses. |
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What Goes On In The Mind Of A Successful Trader |
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Why does one person spot a trend before another? Why can two people look at the same computer screen and come up with different perceptions about what is happening? There are skills to trading that can be learned and instincts that are inborn but can be honed. A trader has to be able to observe its prey like a cat, sit and wait patiently, and then pounce at exactly the right moment with a decisive action. Jump too soon and the prey runs away. Jump too late and the opportunity is over. |
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