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Ways to Acquire Discipline in TradingOne way to acquire discipline in trading... Hey Joe! When you were teaching us at our Forex office in Florida, you stressed discipline. Our head trader stresses discipline. What I want to know is if discipline can be acquired or is it just something you are born with? Im having trouble finding it in myself. - trader - Personally, I believe discipline can be learned, although at times it is very painful. When I began trading, I was a very undisciplined person. But trading and the markets forced me to become disciplined. Was the discipline already there and just needed to be extracted? Or did I actually learn it? I cant truly be sure. One of the largest trading firms kept their offices near Yeshivas. A yeshiva is a rabbinical school that produces rabbis of the Jewish religion. The students coming out of the yeshiva were highly disciplined and made excellent traders. Was the discipline innate in those yeshiva students? Or did they learn it under the strict supervision of the rabbis who controlled their lives? I think they learned it. Ive mentioned previously that it can help to keep a journal if you want to learn discipline. The journal I kept was very basic and included what trades I made during the day and my reasons for getting into the trade. It is what I did with the journal that helped me to be disciplined. Anyone can make entries into a journal. I let the contents of my journal keep me in line. It became my supervisor. I took to heart what I wrote there. I no longer keep that kind of journal because it has served its purpose in making discipline into a habit in the way I trade. Joe Ross Joe Ross, trader, author, trading educator is one of the most eclectic traders in the business. His 47+ years include position trading of shares, and futures. He day trades stock indices, currencies, and forex. He trades futures spreads and options on futures, and has written books about it all - 12 to be exact. Joe is the discoverer of The Law of Charts, and is famous for the Ross hook and the Traders Trick Entry. Trading Educators, Inc. The Team at Trading Educators is composed of an international blend of experienced traders, all educated and proficient in the Joe Ross methods. Our professional staff trades regularly in the markets. Since its foundation Joe Ross and the Team at Trading Educators have taught thousands of satisfied customers who use Joes concepts to produce significant profits in todays markets. Recent Options Trading News Trading the Big Picture: A Conversation with Barry Ritholtz - To most traders and investors, Barry Ritholtz is the voice of The Big Picture, one of the more popular financial blogs on the Internet. Now hosted at ritholtz.com, The Big Picture was one of the more prominent financial must-reads for traders and active investors during the second half of the Bush years. Some of the earliest concerns about the credit crisis and the housing bubble in the financial blogosphere were posted at The Big Picture - a blog that now boasts over a 29 million visitors and [Read More...]
Warren Buffett & Steve Jobs: 10 Similarities - They are the best at what they do, here are 10 qualities they share. Live non glamorous lifestyles Warren Buffett, worth $63 billion, lives in a $700,000 house and has been there for 50 years. His license plate reads ?THRIFTY?. Have you ever seen the website of Buffett?s Berkshire Hathaway, 7th largest corporation in the world? It epitomizes Buffet?s frugality. Disheveled hair and wild eyebrows compliment his awkward fitting suits and favorite old sweaters. Steve shuns the Silicon Vall [Read More...] The Carnival of Personal Finance #178: Struwwelpeter Edition - I?ve been waiting for this chance to host The Carnival of Personal Finance for some time. I usually do this only once a year, so it?s been a while since I?ve been a carnival host and I?m glad to be back on the saddle, so to speak. I figure I?d host once I got a good theme in mind, and this time, I think I do?.! This edition commemorates a rather strange and bizarre collection of mid-19th century children?s poems (from Germany) called ?Struwwelpeter, Merry Stories and Funny Pictures?. I was i [Read More...] Fierce Financial Tips: The Carnival of Personal Finance #178, Struwwelpeter Edition - I?ve been waiting for this chance to host The Carnival of Personal Finance for some time. I usually do this only once a year, so it?s been a while since I?ve been a carnival host and I?m glad to be back on the saddle, so to speak. I figure I?d host once I got a good theme in mind, and this time, I think I do?.! This edition commemorates a rather strange and bizarre collection of mid-19th century children?s poems (from Germany) called ?Struwwelpeter, Merry Stories and Funny Pictures?. I was i [Read More...] HOW TO DRESS : Oval Shaped-Body - I just had to get this from Ems! Thanks for these tips I might have a chance to lessen the impression of my bulging tummy. Ive been asked if Im pregnant as often as there is online trading sessions in the marketplace (that often!) Most plus-size women are hourglass, apple or pear shaped. However, here are some great tips that work for women of every size: Don?t wear over sized clothing, as it will make you larger. The stylish trapeze dresses this fall are not the best option for your body t [Read More...] The Club's Nationwide Election Poll - Club President Pat Toomey wrote an op-ed in today's Wall Street Journal detailing the key findings from a nationwide election poll that the Club conducted on Sunday. Here's an excerpt from the op-ed and below the fold are the poll results. Nancy Pelosi's San Francisco district will always support universal health care, and Jeff Flake's Arizona district will always support less government. But the 12 districts we surveyed represent the political middle of the country, and in this cycle their pa [Read More...] |
