Showing posts with the label the-disciplined- trader


LACK OF DISCIPLINE IN TRADERS Let’s say you are new to futures trading. Or let’s say you have traded futures in the past without much success and have decided to start fresh with a new approach and a clean slate. And you’ve done it all and followed every step. You have: • Determined how much money you can truly afford to risk • Opened a brokerage account with that amount of cash • Settled on a diversified portfolio of markets • Developed a trading system in which you have complete confidence • Developed specific, unambiguous entry and exit criteria • Back-tested your system and have generated good hypothetical results •Walked your system forward, paper traded it over new data and have generated good results • Sized your account so that you reasonably expect no more than a 25% draw down • Built in risk controls including stop-loss orders to minimize your risk You’re as ready as you can be. With high hopes and great anticipation you plac