When it comes to trading there are so many “gurus” out there teaching that they have the secret key to your trading success. After you take a few courses and trade for a few years you soon realize that regardless of the system you adopt being a successful trader truly comes down to DISCIPLINE.
It’s about being able to correctly interpret what the chart is telling you and then EXECUTE your trading plan based on the info you’re seeing. The trouble comes into play when the trade doesn’t go as we’d like. Most people have a difficult time accepting any form of failure and view a losing trade as an attack on their intelligence.
But truthfully this just isn’t the case. No one can control the market and sometimes despite all the signals and patterns lining up correctly the trade simply doesn’t go our way. We have to possess the awareness to understand this and simply close out the trade and reset to catch the next REAL setup. Unfortunately many of us either hold the trade too long in hopes that it reverses it’s position in our favor or we immediately revenge trade and go the other direction only to see our initial hypothesis come to fruition and deliver a 2nd losing trade.
In the end, the real secret to being a successful trader is being disciplined enough to wait on your trades, take your profits when your reach your targets, and then walk away green to trade another day. We developed ProfitSaver to help traders accomplish this because it’s something we’ve experienced ourselves. We always wished we had a magic “STOP TRADING” button that would protect us from ourselves on those angry trading days. Since the brokerages prefer for us to keep trading so they rack up fees we knew it was something we had to create for ourselves….and we’re so glad we did!