FOREX – Day Traders Discipline Is The Key

FOREX – Day Traders Discipline Is The Key

Although it has been some years since I was actively involved in trading, I have just returned to the markets and have begun to trade a small account on my own behalf.

This has given me a slightly skewed perspective of the markets, almost like a new entrant, but one with a lot of experience.

There have been some big changes whilst I have been inactive, not least in the number of online brokerages fighting for every dollar.

But many things stay the same, at the heart of which is one, I guess, unbreakable truth. Trading is basically a very simple business, with any trading – stocks, options, FOREX, whatever – only really incorporating three steps:

1. Find several possible trades evaluate them and decide which to go for,
2. Calculate how much to trade, and decide at what points to enter and exit the market
3. Keeping an eye on, or monitoring, open market positions

Now, these three steps were basically all there was to it a few years ago, and they still And, guess what, people are still getting totally bogged down right here, at this early stage of the trading process, generally, for one of two reasons.

The first possible reason is that they simply are not aware that these are the steps involved in the trading process, or (the second reason) they have no clearly defined rules for action these steps.

Thus, less experienced, more nervous, traders can often take hours to evaluate a small number of potential trades.

Experienced day traders, on the other…


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