The lure of the markets.
The lure of the markets is something that is present every day. Turn on your computer, switch on MT4 and suddenly price starts to flicker in the market watch window, a candle begins to rise or fall and instantly the temptation builds for you to place a trade. Self-discipline is the one part of trading you can control and therefore it’s critical that each day you look at your charts you are only looking to see one thing. Your edge. Once you enter a trade your ability to control price movement disappears, however, prior to entering a trade there is a lot of control you do have and you must use that control wisely. It is important in my opinion to be able to accurately benchmark the performance of an edge and to be able to do this correctly you cannot afford to fiddle with an edge and enter a trade because “it’s close enough”.
Your self-discipline is going to be the single biggest influencing factor to your trading results. It is something that needs to be worked on daily because there are so many outside influences that can impact your decision-making. Be steadfast, be disciplined and be decisive when you see your edge clearly.
One trade at a time. Go get ’em!
About the Author: Andrew Barnett
Andrew is a professional trader and successful investor who has a strong focus on education. He is a regular Sky News Money Channel Guest and one of Australia’s most awarded and respected financial experts, and is regularly contacted by the Australian Media for the latest on what is happening with the Australian Dollar. Director at LTG GoldRock, Andrew Barnett, guides thousands of traders around the world in the live market on a daily basis, advising them on buy and sell directions, as well as trading his own personal account. Andrew, a regular key-note speaker at trading and wealth-creation events throughout the Asia Pacific region, is an authorized representative registered with the Australian Securities and Investment Commission (ASIC).
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