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3. How much more fun would you have if you managed your state of mind? |
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4. How would the quality of your life be enhanced if you were in a positive state of mind every day? |
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The concept of discipline is central to any discussion about profitable trading. When we talk about discipline we are not talking about raw willpowerthe ability to make your mind do something it does not want to do. Instead, we are talking about a disciplined state of mind that is unemotional, focused, and effective. |
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In an earlier section in this book we stated that success in trading only requires: |
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A statistically valid trading plan. |
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Good money management skills. |
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The discipline to trade your plan. |
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We can and will teach you how to achieve the first two in other parts of this book. |
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In this section, we will discuss how to build up your discipline. The end result, however, is totally up to you. We have proven that the real battle is within yourself. It is not you against the market; it is just you against you! |
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Think about some of the tried and true rules of trading: |
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The trend is your friend. |
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The first loss is your best loss. |
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This list goes on and on. We will explore more of these rules in more detail in Chapter 10. Rules like these are correct and they are easy to understand. |
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So, why doesn't everyone simply apply them and achieve immediate and enduring success? The answer is because for most people emotions get in the way. |
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