The Undisciplined Trader | A Currency Trading Article

Main Article Categories

"Currency Trading" Article
Article Directory Home

Finance

Currency Trading

The Undisciplined Trader By Expert Author: Leroy Rushing
View Summary \| Submitted: 2008-06-25 \| Word Count: 443 words \| Views: 6 view(s)

The undisciplined trader is likely to lose more than can ever be gained. Discipline is at the very basis of success in the market because traders need to be consistent in order to yield consistent profits. Granted, striking it rich every once in a while seems great, but consider the gambler than wins $50,000 one trip out of 50 and loses $2,000 every other time. Instead of profiting, they come out very much behind.

Trading goals

With discipline should come a respect for your own trading goals. Your trading goals should include elements such as how much you want to earn, how much risk you can handle, and most importantly, how to generate profits. In life, we’re taught to do what we want, rather than picking a career based solely on earnings, but in trading, the successful trader picks trades on how much they can make, rather than how much they’ll enjoy taking it. Trading goals will help you better define why you’re trading and hopefully add an element of discipline, as we know the only way to meet most goals is with disciplined investments.

Unable to stand with what we believe

Many traders lose their principles because they do not see an immediate result and have very few reasons to continue down their own path. In many cases, this is due to a lack of education on trading topics, a void in understanding how trading works, and why the long term results are really what counts in the end. Traders that lose hope should consider taking a few classes to prepare for the ups and downs of the market and look into an online, live coaching solution. An online, live coaching solution is better than any book or text on trading largely because it can provide the encouragement to continue. Because trading is so heavily based on our own emotions and feelings, we often need something more than just a wall of words to comfort us through each trade.

Become disciplined again

Trading education and resource programs commonly stress maintaining a solid approach to the financial markets. Sticking to your own trading plans and proven strategies is the only way to produce consistent profits; otherwise we’re throwing darts rather than placing positions. Discipline tells us that proven strategies ultimately pay more in the long run than they lose – traders must never lose hope that a system isn’t working due to just a few bad trades. Sticking to your own proven strategies rather than the whim of emotions will help you improve your trading just for the sole reason of consistency and discipline. Stick to your proven strategy, and you’ll soon conquer your own trading goals

About the Author/Author Bio

Leroy Rushing is an active, professional day trader; trading coach; and author. He is the Founder and CEO of Trading EveryDay, a provider of educational trading products and services that are available worldwide. Trading EveryDay has complimentary/FREE products, a Tools of the Trade eBook and a Trading Room Report, that are downloadable for your convenience.

Article Source: http://www.articlesphere.com/Article/The-Undisciplined-Trader/149672

Article Tags: currency trading, trading goals, how to generate profits, online live coaching solution, trading education and resource, proven strategies

This article has been viewed 6 time(s).

More "Currency Trading" Related Articles

Listed below are more articles related to the above article from the "Currency Trading" article category.

People interested in the above article "The Undisciplined Trader" are also interested in the related articles listed below:

Thinking Like a Professional Trader

Expert Author: Leroy Rushing | Submitted: 2008-08-13 | Word Count: 426 | Views: 67

Professional traders are confident in their approach and trading plan, and they make no compromise. It takes this kind of dedication and trading discipline to produce consistent profits in some of the most volatile markets of the world. Professional traders are backed with profitable trading strategies and a complete trading plan which gives them guidance and the ability to produce profits in any market.

The Basics of Engulfing Patterns

Expert Author: Leroy Rushing | Submitted: 2008-08-13 | Word Count: 440 | Views: 53

Candlesticks, especially those indicating reversal, are the most important indicators a trader should know before entering the market. The engulfing patterns represent a complete change in price and should be used with proper risk and money management tips.

Forex Trading System - an Amazing One That's Proven to Make Big Gains and Free!

Expert Author: Samuel Leslie Berkovits | Submitted: 2008-08-02 | Word Count: 452 | Views: 25

Of course you can buy a forex trading system but the one we are going to look at here makes big profits and is FREE. It's been used by some of the world's best traders and the rules are enclosed, to help you enjoy currency trading success... Don't be tempted to buy one from online our free one will beat most and forex robots sold.

Euro Currency - the Bull Trend is Dead and a Big Profit Opportunity 700 Pips Or More!

Expert Author: Kelly Price | Submitted: 2008-08-02 | Word Count: 590 | Views: 108

We may have one more rally but the highs are in and the euro will decline, as the dollar bearish fundamentals have peaked. You don't need to be clever to see why and work out the potential. Here are all the facts and a potential 700 pip opportunity and that's a lot of profit!

Forex Trading - This Proven Method Gives You a 90 per cent Chance of Success!

Expert Author: Kelly Price | Submitted: 2008-08-02 | Word Count: 330 | Views: 107

The method is selling option premium on currencies. Option buyers have a 10 per cent success rate, so the option seller who grants the option has a 90 per cent success rate. Many forex traders never consider selling options and this article is all about selling option premium...

Don't Give Back Profits

Expert Author: Leroy Rushing | Submitted: 2008-07-29 | Word Count: 467 | Views: 120

After racking up a very healthy trading portfolio, many traders get the idea that they are infallible and every trade will come as easy as the last. Don’t be a victim of this mindset. After gaining some experience, nothing should motivate traders more than a trading plan that monitors trading structure, while helping the trader follow through only with quality trades.

The Dos and Don'ts of Shorting the Market

Expert Author: Leroy Rushing | Submitted: 2008-07-29 | Word Count: 443 | Views: 139

The Dos and Don'ts of shorting is actually very straight forward, yet many traders heed this advice only to lose money. Shorting any tradable good is a dangerous position by nature; short sellers can lose more than their investment while potentially profiting only as much as 100 per cent. Both day traders and swing traders alike have much to gain from short-term short positions, which allow them to capitalize on the dropping value of a security. Often, it is a failing company or a bursting bubble which can yield large returns on the downside as it did on the upside.

View Currency Trading Popular Articles | View Currency Trading Top Authors

Print Article

Comment on Article

Favorite Article

Email to Friend

Republish Article

Article Directory Home

Finance

Currency Trading

Can't find what you're looking for? Try Google Search!

(Search in 23 languages: English, Spanish, Japanese, Arabic, Italian, German,
Chinese Simplified, Chinese Traditional, Dutch, Korean, Portuguese, Russian, Greek,
Swedish, Romanian, Polish, Norwegian, Finnish, Danish, Czech, Croatian, Bulgarian)

(We serve worldwide - Locations updated as at Friday, 22 August 2008 12:13 pm , Singapore)

United States of America, USA . United Kingdom, UK (England, Scotland, Wales, Northern Ireland) . Canada . Afghanistan . Albania . Algeria . American Samoa . Andorra . Angola . Anguilla . Antarctica . Antigua & Barbuda . Argentina . Armenia . Aruba . Australia . Austria . Azerbaijan . Bahamas . Bahrain . Bangladesh . Barbados . Belarus . Belgium . Belize . Benin . Bermuda . Bhutan . Bolivia . Bonaire . Bosnia-Herzegovina . Botswana . Brazil . British Virgin Islands . Brunei Darrusalam . Bulgaria . Burkina Faso . Burundi . Cambodia . Cameroon . Cape Verde . Cayman Islands . Central African Republic . Chad . Channel Islands . Chile . China . Christmas Island . Colombia . Comoros . Congo . Congo (Dem. Rep.) . Cook Islands . Costa Rica . Côte d'Ivoire . Croatia . Cuba . Curacao . Cyprus . Czech Republic . Denmark . Djibouti . Dominica . Dominican Republic . East Timor . Ecuador . Egypt . El Salvador . Equatorial Guinea . Eritrea . Estonia . Ethiopia . Falkland Islands and Dependencies . Faroe Islands . Fiji . Finland . France . French Guiana . French Polynesia . Gabon . Gambia . Gaza . Georgia . Germany . Ghana . Gibraltar . Greece . Greenland . Grenada . Guadeloupe . Guam . Guatemala . Guinea . Guinea-Bissau . Guyana . Haiti . Hawaiian Islands . Honduras . Hong Kong . Hungary . Iceland . India . Indonesia . Iran . Iraq . Isle Of Man . Israel . Italy . Ivory Coast . Jamaica . Japan . Johnston Atoll . Jordan . Kazakhstan . Kenya . Kiribati . Korea (North) . Korea (South) . Kuwait . Kyrgyzstan . Laos . Latvia . Lebanon . Leeward Islands . Lesotho . Liberia . Libya . Liechtenstein . Lithuania . Luxembourg . Macau . Macedonia . Madagascar . Malawi . Malaysia . Maldives . Mali . Malta . Marshall Islands . Martinique . Mauritania . Mauritius . Mexico . Micronesia (Federated States) . Midway Islands . Moldova . Monaco . Mongolia . Montserrat . Morocco . Mosquito Coast . Mozambique . Myanmar (Burma) . Namibia . Nauru . Navassa Island . Nepal . Netherlands . Netherlands Antilles . New Caledonia . New Zealand . Nicaragua . Niger . Nigeria . Niue . Norfolk Island . Northern Mariana Islands . Norway . Oman . Pakistan . Palau . Palestine . Panama . Papua New Guinea . Paracel Islands . Paraguay . Peru . Philippines . Pitcairn Islands . Poland . Portugal . Puerto Rico . Qatar . Reunion . Romania . Russia . Rwanda . Ryukyu Islands . Saint Helena . Saint Kitts and Nevis . Saint Lucia . Saint Pierre & Miquelon . Saint Vincent & The Grenadines . Samoa . San Marino . São Tom?& Príncipe . Saudi Arabia . Senegal . Serbia . Seychelles . Sierra Leone . Singapore . Slovakia . Slovenia . Solomon Islands . Somalia . South Africa . Spain . Sri Lanka . Sudan . Suriname . Swaziland . Sweden . Switzerland . Syria . Taiwan . Tajikistan . Tanzania . Thailand . Togo . Tonga . Transkei . Trinidad & Tobago . Tunisia . Turkey . Turkmenistan . Turks and Caicos Islands . Tuvalu . US Virgin Islands . Uganda . Ukraine . United Arab Emirates . Upper Volta . Uruguay . Uzbekistan . Vanuatu . Vatican City (Holy See) . Venezuela . Vietnam . Wake Island . Windward Islands . Yemen . Yugoslavia . Zaire . Zambia . Zimbabwe

Copyright © 2005 - by Larry Lim, Singapore - Article Search Engine Directory at ArticleSphere.com™
All Rights Reserved Worldwide. All Trademarks and Servicemarks are the property of the respective owners.

Template Design by Internet Marketing Singapore | Internet Marketing