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Thursday, October 11, 2007

Discipline Pays, Fear Stings..

Another great day.. let me re-phrase that.. another great day in the market because it's a very gloomy weather outside reminding me of the winter and the wind chill about to come.. :..(..



Anyways, I took a few trades and made a nice chunk of profit but as always very limited compared to the move that carried out. As a beginner I have heard numerous times that being disciplined is the way to go to make money which stands true as I have made a good amount but it has also limited my profits. If you take a look at the charts I posted, I have exited the position after 1 point, more or less, in most cases. If I let the move carry out till the end(which is hard to figure out while it's being made) I could be banking a lot more. So I guess being disciplined is just another word for 'fear' making it look like there is no emotional element present during the trade. In reality, the fear of the unknown is what makes me scared and that means.. more studying and more practise of the charting patterns and fine tuning of my indicators.







Again, 'more practise' may just be another word to avoid the real problem.

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Day Trade Emini
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