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Discipline. A trader’s strength; a trader’s weakness.

QuestionsCategory: QuestionsDiscipline. A trader’s strength; a trader’s weakness.
Jill Miller asked 5 years ago

This may seem like a strange question but I need to get MUCH better at discipline.  I know what I should do - I just don't always do it.  It's very frustrating and sometimes I feel like I should stop trading.  I know you mentioned in the CANSLIM meetup meeting that in the past you had some BIG losses.  So I'm assuming you figured out how to follow your rules.  I need to do that NOW!  Any ideas would be appreciated!
After this past week and my NOT follow rules I am now sitting on some losses.  What would you suggest a trader do with those losses.  Cut them now and move on?  On Friday I watched the market rise initially and thought OK my positions are going to be OK.  then the market turned lower and I was like a deer with headlights - FROZEN.  Obviously, I'm not doing what it takes to be a successful trader and do it with a good feeling instead of a Dreaded feeling.
Thanks in advance for your help and ideas.

1 Answers
Avatar photoOwen Staff answered 5 years ago

Hi Jill,
Video from Patrick:
(at the end of this video, Pat makes reference to a video previously recorded.
I believe he is recalling the inclusion of this topic on Sunday night’s webinar)
https://youtu.be/uke0mhTJBVY