Trading With Discipline

Todays article is very relevant to all aspiring traders. A key aspect often missed is trading a strategy that suits your risk profile that sits comfortably with your own investing personality. Match it well and the degree of discipline increases.

Please enjoy the article below.

If your looking for stock market strategies in wealth creation, then we have 10 in our homestudy wealth program. see here - www.EducatedWealthSolutions.com/homestudy.asp and check it out

Disciplined trading is vital for lasting success. Profitable trading requires a combination of skill and odds. The winning trader implements proven trading strategies over and over, so that across a series of trades, the law of averages works in his or her favor. Unless you make trades, you have no chance of winning. It's just like in sports. Unless you step up to the plate, you cannot hit a home run. The more times you try, the more likely you will succeed. An important part of discipline is consistency. When a trader uses one approach one time, and a different approach at another time, performance is haphazard. It is essential to use a strategy consistently, following a specific trading plan on each and every single trade, so that across the series of trades, you will make an overall profit.

If you follow the plan sometimes and abandon it at other times, you throw off the probabilities, but many traders can't seem to stick with their plan. What precipitates a lapse in discipline? Many times, traders forget the consequences of not following a plan. They may suddenly see an opportunity to make a quick profit and decide to abandon risk limits. In another scenario, a trader may question his or her plan, and out of fear, abandon it. How can you make sure you stick with your trading plan? Many times, we forget why we need to follow a well-defined trading plan. A simple way to remember is to pull out an index card with the reasons and read it over and over again. You might write, "If I abandon my plan, I will lose in the long run." You may also list a few trades where you abandoned your plan and you regretted it. The images of the trade, along with the feelings of regret, will encourage you to stick with your plan. By putting the consequences of abandoning your plan right in front of you so that it is clearly in your awareness, you will be more likely to stick with your plan.

There are other reasons that trading plans are abandoned. One of the main reasons trading plans are abandoned is that they are not specified clearly enough. By specifying every aspect of a trading plan from how much you will risk to when you will enter and exit, you will have an easier time following your plan.

Another reason plans are abandoned concerns fear. When your money is on the line, it's natural to feel afraid. As much as you try to forget, it's hard not to worry about losing money. There are times when you may feel so panicked by the chaotic moves of the markets that you can't think clearly. You may feel agitated and on edge. A detailed trading plan, however, can help you stay calm during the storm of market action. The more clearly the plan is laid out, the easier it is to follow, especially when you are agitated and upset. And when the plan is easy to follow, it's likely that you'll stick with it. You'll be disciplined and in control of your emotions and thinking.

The difference between winning traders and unprofitable ones is the ability to muster unwavering self-control in response to chaotic, ever-changing markets. Trading is serious business. It's not a hobby, but many traders approach the endeavor as if it were recreational gambling. They don't develop a trading plan, and if they do, they tend to abandon it prematurely. Winning traders, however, are methodical. They carefully develop a trading plan, execute it, and stick with their plan. If you want to trade profitably, develop well-defined trading plans and follow them.

Article originally released by Innerworth

Added Homestudy Bonuses - Effective Immediately

Dear Everyone

I am writing to everyone as a special one off email to let you know of Jamie's latest enhanced bonuses on the homestudy. Starting immediately Jamie has extended the 2 year membership to 5 years.

To receive the full benefits of the homestudy, you must nominate which 4 day you are likely to attend within 30 days of enrolling for the homestudy.(You are able to change from one event to another at no cost). Seminars attract high expenditure so by designating a venue helps the organizers in preparing for the future.

The next event is on count down mode at the Milennium Hotel, Queenstown, New Zealand on the 29th June - 2nd July, 2007

You must attend the 4 day within 12 months of signing for the homestudy . If you nominate the seminar at point of sale or within 30 days and attend the 4 day within the 12 month period then you get 5 year membership including unlimited revisits to the 4 day and internet and business programs within that 5 years including email and forum access and support services.

PLUS
As a special bonus incentive for new members who enrol for the homestudy inside the 21 days will also receive the $1995 spouse 4 day ticket for free. If booking after the 21 days you have to pay for the spouse ticket so it is a real saving of $1995

ALSO
Another new bonus has also been added to the homestudy.
You can get access to select ASX listed shares at substantial discounts of market price creating instant profits and access investments usually only available to high net worth individuals. 6 months free subscription to 21st Century Investor Newsletter valued at $600.

With all these new added bonuses I see a real opportunity for you take advantage of the enhanced bonuses that can assist you in reaching your financial and lifestyle goals.

If you want to take up the offer, click here and order online at http://www.educatedwealthsolutions.com/homestudy.asp or reply to me and I will call you to place your order.

The program comes with a 100% 90 day money back guarantee. That's RISK FREE EDUCATION. What if the program was just half as good as we say it is. How much money will it cost you to not be doing these strategies!

Have a great day.

Kindest Regards
Brian

September News and Updates

HI everyone

I hope all is safe and well as another month flies by. In this update I want to pass on additional feedback from the team, inform you of some updated resources and provide you with a recommended reading list if you're keen to research more on trading.

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General Info and Housekeeping
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The US sub prime mortgage worries certainly put the wobbles into all the world markets. We see some incredible opportunities at the moment, but more than ever, sensible execution and responsible money management keep the bad stories away. It is quite normal for the markets to correct from time to time as punters reassess risk and the value of stocks. I'll be watching to see if there is another downturn that may turn into a trend reversal. I won't try and predict what will happen next but prefer to react to what the market actually does.

We have updated the graduate success stories resource on the forum where graduates are achieving some wonderful results. I love reading them as they keep me inspired. I am a strong believer that with the right education, support and appropriate actions, you'll produce results. Take a look and be inspired. See here for the link to Jamie's forum http://www.21stcenturyacademy.com/forum/

For those of you who are going to the Gold Coast 4 Day "Education for Life" Seminar this week end, I hope to hear all your wonderful stories and feedback. If you are new to us, you get complimentary tickets with all memberships to the homestudy. See here on what is covered - http://www.educatedwealthsolutions.com/4DayEvent.asp. Because this event has been fully booked out Jamie has scheduled another one for the Gold Coast on November 30th - December 3rd to accommodate the demand.

We have 2 days left before Jamie's Special Offer to get 2 free tickets to see Anthony Robbins on September 14th - 16th. If you are keen to pursue this homestudy opportunity, SMS me on 0423 523 866 so I can help reserve your seats.

I have also been asked what our relationship is to Jamie. We are licensed Business Partners and distributors to Jamie and the Academy. We completed the homestudy course in 2004 and actively and successfully use the strategies taught in the wealth program. We both love real estate and I just love the business of trading. I love the fact that I can offer these educational products that can offer investors greater value than the initial outlay.

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Recommended Reading - Trading
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Copied from an online book shop stating the top 10 trading books

1 Secrets of Candlestick Charting -- Louise Bedford
2 Trading in the Zone--Mark Douglas
3 Secrets of Writing Options--Louise Bedford
4 Trading Secrets-- Louise Bedford
5 Market Wizards-- Jack Schwager
6 Charting Secrets--Louise Bedford
7 Trading for a Living--Alexander Elder
8 Come Into My Trading Room --Alexander Elder
9 Rich Dad, Poor Dad--Robert Kiyosaki
10 Trade Your Way to Financial Freedom --Van Tharp

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Useful Websites
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Australian Stock Exchange - www.asx.com.au is always a great resource of online tutorials.

Secrets exposed - http://www.1shoppingcart.com/app/?af=651233 - Series of books that takes you up-close and personal with hundreds of Australasia's most successful people, in a range of topic areas.

We would love to hear what other useful websites you have found and use that can be of benefit to everyone.

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I look forward to hearing from you at some stage and hearing your progress, questions and thoughts.

Until next time, I wish you happy investing

Brian