"As a trader, very often you might find yourself exiting a trade at a loss, only to find that the trade would have been profitable if you had waited a little while more!
Sometimes, after exiting a losing trade, you feel compelled to open another trade immediately in the opposite direction, almost driven by an urge to 'take revenge' on the market!. This behavioural pattern makes you a gambler, and you will very often find that you lose in the second trade too! "
Sometimes, after exiting a losing trade, you feel compelled to open another trade immediately in the opposite direction, almost driven by an urge to 'take revenge' on the market!. This behavioural pattern makes you a gambler, and you will very often find that you lose in the second trade too! "
"Discipline is the key to trading success. It might sound like a cliche, but it is still the key to trading success that is very much overlooked by many highly intelligent traders who make use of good trading strategies but fail in trading. Discipline traders succeed and undisciplined traders fail. In a sense, it's really that easy! "