Trading Discipline is one of the most important aspect of trading that many traders miss. Download these three 3 minute Trading Discipline Audios FREE that relate to 3 key mental/emotional issues of trading. Trading is a mental game. The more focused and disciplined you are in your mind when taking the trading decisions, the more successful you will be as a trader. As a trader, you must avoid the blowout trade at all costs. This blowout trade can take place anytime and result in a huge drawdown to your account balance.
Stopping The Blowout Trade
Suppose, you have made 50 pips during the day and you spot a trading opportunity that you think can give you 100-200 pips with a stop loss of 50 pips. Should you take such a trade that has the chance of wiping out the 50 pips profit that you have already made? Or suppose, you have made 150 pips in the last three days. You spot a trend in the market. There is a good trading opportunity that can make you 400-600 pips with a stop loss of 100-150 pips. The risk to reward ratio is good. You can make 4 times what you will be risking. Should you risk your three days of hard labor on a single trade that can take away what you have made in the last three days. Listening to this 3 minute Disciplined Trader Audio will help you avoid such a blowout trade that can take away all the profit that you have made for the day, week or even the month. The other two Disciplined Trader Audios will reveal how the top traders are increasing their profits and reducing their losses.
Trading Discipline Is Very Important
Trading Discipline means avoiding emotions when trading. Two most dangerous emotions that a trader faces while trading are fear and greed. Fear comes when you lose a trade. Should you trust your instincts again when it comes to entering into a new trade? Should you avoid the next trade? Once a trader becomes fearful, he or she will be hesitating to even enter into a good trade. On the other hand, greed comes when you have won a few trades in a row. The possibility of a blowout trade increases. You see a trade setup that has the possibility of giving you a huge profit. In order to take that trade, you are willing to increase the level of risk. When greed comes, a trader can become reckless and make decisions that can haunt later on. You will hear this again and again, “I did it again! I had build my account balance accumulating profits over the last month but in one undisciplined trade, I gave it all back.” You should learn how to avoid the blowout trade that can result in huge drawdowns to your account.
If you want to Norman Hallet is considered to a foremost authority when it comes to trading discipline. He has trained thousands of traders from all over the world on how to become a more disciplined trader. These trading discipine audios apply no matter what market you trade whether it is forex, stocks, futures, options, ETFs or commodities whatever. Trading is a game that has almost the same rules no matter what market you trade. As a trader, you have to master your own mind when it comes to pulling the trigger. Mastering your mind requires developing trading discipline. Listen to these three 3 minute Trading Discipine Audios and discover how easily you can avoid the blowout trade that can results in a huge drawdown.