Charts For No Reason

mikeriley said:
"Patience and Self-Discipline are your
greatest friends in trading" - Nial Fuller
More...
... and a Plan.

descipline.jpg

What would You say belongs in a solid trading plan?
https://www.elitetrader.com/et/thre...solid-trading-plan.340340/page-4#post-5031706
 
mikeriley said:
Patience and Self-Discipline are your
greatest friends in trading" - Nial Fuller
More...
Mike, thanks for posting that.
It can't be said enough. Waiting for a trade to come your way, to develop, to setup and trigger, whatever the method may be, even Jim Rogers has to “... just wait until there is money lying in the corner and go over there and pick it up. Do nothing in the meantime.”
Hard to deny and just as difficult to master - The Waiting is prelude to effective action in daytrading. The waiting is the hardest part.

Here's a post from the ET journal of a respected trader into it for two years at the time when she posted this vital comment.
"
Thanks, today was just more reinforcement of how waiting for a really really strong setup and then stepping on the gas can really pay off.
"
https://www.elitetrader.com/et/threads/nodojis-day-trading-log.132626/page-209#post-2726896

https://quotefancy.com/jim-rogers-quotes

Knowing something and internalizing something are two different things. It helps to keep score in an error log not to rag on ourselves but to be aware of the trading errors we make and remedy the situation in a timely fashion. e.g. Missed trade, late entry, early entry, mut, etc, simply posting to our error log is basically all it takes, but if not, you can tally them up weekly and deal with the worst offender first...
 
Last edited:
You must log in or register to reply here.
Back
Top