Tuesday, December 16, 2008

A watched market never moves

Paying inordinate attention to the market is a recipe for disaster. Unless you are a day trader which in itself is almost a certain way to quick poverty, watching every tick of the market will induce you to initiate trades before their time. It is easy to become bored with the tediousness of the market and desire action when none is required.

Allowing your trades to set up is a must for successful trading no matter your style or time frames. You cannot force it. Trading the markets for excitement is a form of gambling. Trading the markets for profit requires discipline, not adrenaline.



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