From
thedisciplinedtrader.com
Email Address
nhallett@thedisciplinedtrader.com
Sent On
Mon, Oct 7, 2024 07:57 PM
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Hello Friend, How long should you wait for a trade to develop? Not long. What does "not long" mean?
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Hello Friend, How long should you wait for a trade to develop? Not long. What does "not long" mean? Understand that putting the odds on your side...and KEEPING those odds on your side.. is what profitable trading is all about. UN-profitable traders put on a trade when they get the stimulus to do so by their trading plan and subsequently defend their decision to take the trade even if the trade starts to move sideways. They wait and wait, continuing to make themselves "right" about the trade, many times mentally conceding a loss as the likely outcome. And somehow, that's OK. This is not the way to trade. You should have a limit to the number of 'candles' you are willing to wait before you bail with a small loss or small gain or break even. Your trading plan must honor 'statistical logic'. The logic you need to apply in the case of a trade not developing is... "The further from the entry trigger that you get, the less that trigger has an influence on price." Simply put, as time is spent without result, your odds of success will decrease. So, waiting and waiting for a trade to develop is the opposite of how you want to position yourself as a trader. I've written several books and dozens of papers on building and maintaining trading plans and I can tell you that the number of 'candles' you should allow yourself to wait varies with different plans. You have to test over time to arrive at what that number is for your plan. My advice: Find it and make it a rule. The kind of 'bleeding' that results from hanging on to a trade that is not developing properly is what can ruin prop traders and retail traders alike. Below is an offer I made this weekend and I'm extending it just for today. =================================== On Oct 2nd, just 4 days ago, he posted his experience trading LG. I think you'll be blown away. In this 1-minute rant about LG, he lists all the "gurus" he's tried before he traded LG. Listen for it. You likely own a couple of them. Take just a minute and view...and if you'd like to try Loaded Gun yourself, reply to this email and I'll make sure you get a price break just for giving this 1-minute video a look... [TAP HERE TO VIEW]( Stop wasting years of searching. Let the buck stop here. PS: If you'd like the see the offer page for Loaded Gun before you reply to this email for your discount code... [TAP HERE]() And, as always⦠Stay Disciplined! Norman Hallett, CEO / Tisha Hallett, Creative Director The Disciplined Trader [Unsubscribe]( Subconscious Training Corporation 6606 NW 66th Ave Parkland, Florida 33067 United States (954) 242-2719
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