Uploaded by SchoolOfTrade on Dec 9, 2009
•In Video #1 we heard from Joseph James himself as he shared his story of how he developed the Discipline Cycle itself, and we were introduced to the First Phase, which is Discipline, to follow your rules and only take the very best trade set-ups according to your mechanical rules.
•In Video #2 we were introduced to Consistency, the second phase of this 360-degree cycle. This Consistency in your trading comes from seeing the same patterns and the same set-ups with consistency you will begin to see the same consistency in your trading as well.
•In Video #3 we learned about Confidence, the Confidence in our Set-Ups, Rules and entries
In this 4th video of this 5-video series we get introduced to the 4th phase of the Discipline Cycle:
Patience
Just ask my Grandma
Patience is one of the most important skills you can develop in anything you want to do, and trading is no different.
This is the Patience to wait for the best patterns, for all your rules to line upthis is the PATIENCE to wait for the very best opportunities in the market!
Without this patience, we risk taking trades that should be avoided, and this will hurt our long term success.
Remember
•Discipline Cycle® begins with Discipline to follow those rules,
•Discipline leads to Consistency in your trading,
•That Consistency leads to Confidence in your trading!
•Confidence develops the Patience to wait for the best trading opportunities!
Whats next?
Keep an eye out for the 5th and final video in this series to learn the final evolutionary phases of our
Discipline Cycleyou DONT want to miss the rest of this series!
Hope it helpsStick to those Rules!
See you in the Live Trade Room tomorrow @ 745am EST
Category:
Tags:
- Learn Tape Reading
- Learn to Day Trade
- Day Trading Futures
- Market Profile Strategies
- E-Mini Day Trading
- Euro Currency Futures
- Pound Currency Futures
- Russell Futures
- Dax Futures
- Crude Oil Futures
- Gold Futures
- Technical Indicators
- Range Charts
- Range Bars
- Ninja Trader Software
- How to be a scalper
- day trading system
- learn to read the tape
- trading sideways markets
- pace of tape indicator
- auto levels indicator
- disciplined trading
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