فوركس ساتو

We have all violated this rule.
However, it should be our goal
to try harder not to violate it in
the future. What we are really
talking about here is the greed factor.
The market has rewarded you by moving in the direction of your position,
however, you are not satisfied with a small winner. Thus you hold
onto the trade in the hopes of a larger gain, only to watch the market
turn and move against you. Of course, inevitably you now hesitate and
the trade further deteriorates into a substantial loss.
There’s no need to be greedy. It’s only one trade. You’ll make many
more trades throughout the session and many more throughout the
next trading sessions. Opportunity exists in the marketplace all of the
time. Remember: No one trade should make or break your performance
for the day. Don’t be greedy.
All good traders follow this rule.
Why continue to lose on five lots
(contracts) per trade when you
could save yourself a lot of
money by lowering your trade
size down to a one lot on your
next trade? If I have two losing
trades in a row, I always lower my trade
size down to a one lot. If my next two trades are profitable, then I
move my trade size back up to my original lot size.
It’s like a batter in baseball who has struck out his last two times at bat.
The next time up he will choke up on the bat, shorten his swing and
try to make contact. Trading is the same: lower your trade size, try to
make a tick or two — or even scratch the trade — and then raise your
trade size after two consecutive winning trades.
Being disciplined is
of the utmost
importance, but
it’s not a sometimes
thing, like
claiming you quit
a bad habit, such as
smoking. If you
claim to quit smoking
but you sneak a cigarette every
once in a while, then you clearly have not quit smoking. If you trade
with discipline nine out of ten trades, then you can’t claim to be a disciplined
trader. It is the one undisciplined trade that will really hurt
your overall performance for the day. Discipline must be practiced on
every trade.
When I state that “the market will reward you,” typically it is in recognizing
less of a loss on a losing trade than if you were stubborn and
held on too long to a bad trade. Thus, if I lose $200 on a trade, but I
would have lost $1,000 if I had remained in that losing trade, I can
claim that I “saved” myself $800 in additional losses by exiting the
bad trade with haste.
Trading with discipline will put
more money in your pocket and
take less money out. The one
constant truth concerning the
markets is that discipline =
increased profits.
The Wheel of Success
There are three spokes that make up, what I call the “Wheel of Success”
as it relates to trading. The first spoke is content. Content consists of
all the external and internal market information that traders utilize
to make their trading decisions. All traders must purchase
value-added content that provides utility in making
their trading decisions.
The most important type of content is internal
market information (IMI). IMI simply is time
and price information as disseminated by the
exchanges. After all, we all make our trading
decisions in the present tense based on time
and price. In order to “scalp” the markets
effectively, we must have the most live and
up-to-date time and price information seamlessly
delivered to our PCs through a reliable
execution platform and/or charting package.
Without instantaneous time and price information,
we would be trading in the dark.
The second spoke is mechanics. Mechanics is how you
access the markets and the methodology that you employ to
enter/exit your trades. You must master mechanics before you can
enjoy any success as a trader. A simple keystroke error can result in a
loss of thousands of dollars. A trader can ruin his entire day with an
inadvertent trade entry error.
Once you have mastered order execution, though, it is like riding a
bike. The process of entering and exiting trades becomes seamless
and mindless. Fast and efficient trade execution, especially
if you are trading with a scalping methodology,
will enable you to hit a bid or take an offer before
your competitors do. Remember, the fastest survive.
The third and most important spoke in the
Wheel of Success is discipline. You must
attain discipline if you ever hope to achieve
any level of trading success. Trading discipline
is practiced 100 percent of the time,
every trade, every day.
Review the following 25 Rules of Trading
Discipline. You must condition yourself to
behave with discipline over and over again. Many
of my traders and clients read through the rules every
day (believe it or not) before the trading session begins.
It doesn’t take more than three minutes to read through them.
Think of the exercise as praying — reminding you how to conduct
yourself throughout the trading session.
THE MARKET
PAYS YOU
TO BE
DISCIPLINED.