Hello, my friend, and welcome to this post on “How Can I Be Disciplined in Trading?”. In this post, we’ll discuss how to master trading discipline by controlling our emotions while Trading, ultimately mastering trading psychology.
I hope you enjoy it!
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How Can I Be Disciplined in Trading? – Video
Hey, Barry Burns here with Top Dog Trading. Today, we’re advancing your trading skills, focusing on self-mastery, or mind mastery. This isn’t spooky stuff; it’s very practical and transformative. Many traders use trading logs, but often just to record entry and exit points, which you can easily get from your broker.
Instead, we’ll use these logs for mind transformation. Let me show you how. We’ll look beyond just trade data to include what you were thinking and feeling during the trade. For instance, you might note your logical thoughts and any emotional reactions. This is like observing your mind, similar to the observer concept in Buddhism.
All mastery is ultimately self-mastery
Barry Burns
3 Elements of an Effective Trading Log – Trading Discipline
When you log your trades, include three elements: the thought process, your feelings, and any mistakes made. Analyzing these patterns over time can reveal valuable insights. For example, you might notice that trades you felt uncertain about often resulted in losses, leading you to avoid such trades in the future.
Mistakes are defined as anything that breaks your trading rules. Reviewing these regularly can highlight recurring issues. You might find that adjusting your rules or adhering more strictly to them can improve your trading outcomes.
Wrapping up!
To track this effectively, I record my trades weekly and monthly, noting the number of mistakes and how they affected my profit and loss. By recalculating your results without these mistakes, you might discover you’re already a profitable trader if you just eliminate these errors. This realization can be very motivating and lead to significant behavioral changes.
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And finally, I am offering one of my favorite trade strategies called the Rubber Band Trade. Absolutely free. And I want you to go and make some money. Try before you buy, or well, actually try and never buy because there’s no charge for this trade at all. And I’ll give you the setups, the exits, all the rules for it. It’s an objective rule-based method based on price pattern action that I don’t think anyone else teaches.
I’ve never seen anything else teach this particular price structure. So go get that by clicking on the green icon in the top right-hand corner of the video there, or by clicking on the green button below, and that’ll take you to a page where you can opt-in, get the video for the rubber band trade strategy, along with some other great free tutorials, one of my little mini-courses, absolutely free, courtesy of Barry Burns here at Top Dog Trading.
Wrapping up
Feel free to ask questions in the comments, and I’ll address them in future videos. Remember, trading is not just about making money; it’s about what you can do with that money. Let’s make a positive impact together.
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BTW, if you’re interested in the indicator that I use personally for very precise entries and exits. I’m happy to share that with you. Just send me an email at support@topdogtrading.com, and I’ll show you how to get access to that indicator.
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