Ways to Acquire Discipline in Trading

One way to acquire discipline in trading...

"Hey Joe! When you were teaching us at our Forex office in Florida, you stressed discipline. Our head trader stresses discipline. What I want to know is if discipline can be acquired or is it just something you are born with? I'm having trouble finding it in myself." - trader -

Personally, I believe discipline can be learned, although at times it is very painful. When I began trading, I was a very undisciplined person. But trading and the markets forced me to become disciplined. Was the discipline already there and just needed to be extracted? Or did I actually learn it? I can't truly be sure.

One of the largest trading firms kept their offices near Yeshivas. A yeshiva is a rabbinical school that produces rabbis of the Jewish religion. The students coming out of the yeshiva were highly disciplined and made excellent traders. Was the discipline innate in those yeshiva students? Or did they learn it under the strict supervision of the rabbis who controlled their lives? I think they learned it.

I've mentioned previously that it can help to keep a journal if you want to learn discipline. The journal I kept was very basic and included what trades I made during the day and my reasons for getting into the trade. It is what I did with the journal that helped me to be disciplined. Anyone can make entries into a journal. I let the contents of my journal keep me in line. It became my supervisor. I took to heart what I wrote there. I no longer keep that kind of journal because it has served its purpose in making discipline into a habit in the way I trade.

Joe Ross
Trading Educators Inc.

Joe Ross, trader, author, trading educator is one of the most eclectic traders in the business. His 47+ years include position trading of shares, and futures. He day trades stock indices, currencies, and forex. He trades futures spreads and options on futures, and has written books about it all - 12 to be exact. Joe is the discoverer of The Law of Charts?, and is famous for the Ross hook? and the Traders Trick Entry?.

Trading Educators, Inc.
Trading Educators was founded in 1988 by Master Trader Joe Ross. He is the president of Trading Educators and actively supports his customers with his experience of more than 47 years of trading.

The Team at Trading Educators is composed of an international blend of experienced traders, all educated and proficient in the Joe Ross methods. Our professional staff trades regularly in the markets.

Since its foundation Joe Ross and the Team at Trading Educators have taught thousands of satisfied customers who use Joe's concepts to produce significant profits in today's markets.

---

Exploring the World of Day Trading

Are you looking into a career in day trading? In the past, the tools for day trading were available only to professionals. But thanks to the power... Read More

Learn Forex Trading - a Guide for Beginners

One can learn forex trading as easily as one would like to learn other subjects or train in other professions. The criteria for learning forex trading is... Read More

Hedging Foreign Exchange Risks

The exchange rate of the Macedonian Denar against the major hard currencies of the world has remained stable in the last few years. Because of the IMF... Read More

Forex Signal Services

What are Forex signals? Forex signals are paid services offered by some brokers and independent Forex annalists. Companies that offer forex signals monitor and analyze the market... Read More

Forex Profits

The Forex Market-What, When and Why?Forex, FX and the Forex market are some common abbreviations for the Foreign Exchange market. Actually it is the largest financial market... Read More

Types of Foreign Currency Hedging Vehicles

The following are some of the most common types of foreign currency hedging vehicles used in today's markets as a foreign currency hedge. While retail forex traders... Read More

The Margin Advantages of Trading FOREX.

There is one aspect that is considered as one of the best advantages of FOREX Trading. This is related to the amount of money you need to... Read More

Financial Crises, Global Capital Flows and the International Financial Architecture

The recent upheavals in the world financial markets were quelled by the immediate intervention of both international financial institutions such as the IMF and of domestic ones... Read More

Forex Trading - Advantages and Disadvantages

What is Forex Trading?Forex, or Foreign Exchange, is the simultaneous exchange of one country's currency for that of another. This market of exchange has more daily volume,... Read More

5 Questions You Need To Have Answered Before You Back-Test Your Forex System

As 90-95% of new forex traders lose money within the first 3-6 months this article helps to guide new forex traders by asking 5 questions that the... Read More

The Miracle of Forex

My father, who owns a small parts store and garage for vintage British sports cars, called me up recently and droned on and on about how he... Read More

Forex Trading

Foreign exchange market, or better known as FOREX, is the world's largest and most prolific financial exchange market originated on 1973. Bearing the status of largest and... Read More

FOREX Trading Philosophy

Keen on starting FOREX trading? Why would you not be? Many beginning FOREX traders are captivated by the allure of easy money. FOREX websites offer 'risk-free' trading,... Read More

Commodity Trading - Advantages and Disadvantages

What Is Commodity Trading?Commodity futures markets allow commercial producers and commercial consumers to offset the risk of adverse future price movements in the commodities that they are... Read More

Forex Scams: How to Spot Them A Mile Away

In recent years, investors have witnessed increased number of investment opportunities and offerings. While the complexity and success of these investment products vary, technological innovation has made... Read More

Money Management - The Holy Grail Of Trading

Money management determines how much to risk on each individual trade. This is a vital element of any trading system - risk too much and the chances... Read More

What I Learnt Losing £60,000 My First Year as a Full-time Trader

During my first year as a local (independent trader) on the floor of LIFFE, I bought and sold 8804 FTSE futures contracts, about 40 contracts per day... Read More

Assessing the Opportunities Presented by the New Iraqi Currency

Could it be possible that you are staring right into the most spectacular financial opportunity of the century? Operation: Iraqi Freedom will undoubtedly be a war marked... Read More

Forex Broker Involvement Optional

To trade on the forex market, the largest financial market on the planet, one must use a forex broker. Not unlike a stock broker, a forex broker... Read More

The Yin and the Yang of Markets

I am reading a fantastic book on trading, first published in 1924, by Richard D. Wyckoff, titled "How I Trade and Invest in Stocks & Bonds". Although... Read More

Reality of Online Forex Trading

Foreign exchange trading is the trading of currencies. Most currencies can be traded. Huge amounts of currencies are traded 24 hours a day, 5 days a week.... Read More

The Nature of the Trading Business

Consider the following: As a trader you are in a business. Your strongest opponent has plenty of capital. He follows a program and he does it without... Read More

Online Forex Trading

Foreign exchange currency trading is also known as Forex trading, or FX, and has no single physical marketplace like the New York Stock Exchange does on Wall... Read More

How To Handle A String Of Losses

Everybody hates to lose and unfortunately no one is blessed with the ability of foresight, therefore losses are an unavoidable part of trading. When we enter a... Read More

A Fools Game

I received an email this week with a question (below) which caused me to think about the wisdom of pursuing trading as a career. Regardless of your... Read More

Forex Trading Systems

The foreign exchange currency market is the largest market in the world because it trades up to $1.9 trillion daily. There is an enormous scope of trade... Read More