"Hey Joe! When you were teaching us at our Forex office in
Florida, you stressed discipline. Our head trader stresses
discipline. What I want to know is if discipline can be acquired
or is it just something you are born with? I'm having trouble
finding it in myself." - trader -
Personally, I believe discipline can be learned, although at
times it is very painful. When I began trading, I was a very
undisciplined person. But trading and the markets forced me to
become disciplined. Was the discipline already there and just
needed to be extracted? Or did I actually learn it? I can't truly
be sure.
One of the largest trading firms kept their offices near
Yeshivas. A yeshiva is a rabbinical school that produces rabbis
of the Jewish religion. The students coming out of the yeshiva
were highly disciplined and made excellent traders. Was the
discipline innate in those yeshiva students? Or did they learn it
under the strict supervision of the rabbis who controlled their
lives? I think they learned it.
I've mentioned previously that it can help to keep a journal
if you want to learn discipline. The journal I kept was very
basic and included what trades I made during the day and my
reasons for getting into the trade. It is what I did with the
journal that helped me to be disciplined. Anyone can make entries
into a journal. I let the contents of my journal keep me in line.
It became my supervisor. I took to heart what I wrote there. I no
longer keep that kind of journal because it has served its
purpose in making discipline into a habit in the way I trade.
Joe Ross, trader, author, trading educator is one of the most
eclectic traders in the business. His 47+ years include position
trading of shares, and futures. He day trades stock indices,
currencies, and forex. He trades futures spreads and options on
futures, and has written books about it all - 12 to be exact. Joe
is the discoverer of The Law of Charts?, and is famous for the
Ross hook? and the Traders Trick Entry?.
Trading Educators, Inc.
Trading Educators was founded in 1988 by Master Trader Joe Ross.
He is the president of Trading Educators and actively supports
his customers with his experience of more than 47 years of
trading.
The Team at Trading Educators is composed of an international
blend of experienced traders, all educated and proficient in the
Joe Ross methods. Our professional staff trades regularly in the
markets.
Since its foundation Joe Ross and the Team at Trading
Educators have taught thousands of satisfied customers who use
Joe's concepts to produce significant profits in today's
markets.
Sri Lanka Rupee, Stocks Drop After Currency Trading Band Removed Bloomberg The central bank narrowed the currency's trading band against the dollar on Feb. 3 and Feb. 6 and today, prior to announcing its removal. The monetary authority raised benchmark interest rates for the first time since 2007 on Feb.
India Eases Currency Trading Limits for Some Banks Wall Street Journal By SUDEEP JAIN MUMBAI -- India's central bank has asked banks to approach it individually for relaxing some foreign currency trading limits and has already eased restrictions for some banks, a top official said Monday. "Some limits, based on their ...
iFOREX Adds Oil to its list of Tradable Commodities MarketWatch (press release) ROAD TOWN, Tortola, Feb 09, 2012 (BUSINESS WIRE) -- Leading currency trading company, iFOREX, has recently expanded its services, giving all Forex trading accounts direct access to oil CFDs. Targeting an audience that has little or no experience with ...
This January Azerbaijan's exchange currency trading totaled $82.5 million Azerbaijan Business Center Baku, Fineko/abc.az. The Baku Interbank Stock Exchange (BBVB) has renewed statistics of its operations. BBVB reports that in January 2012 the nine participating banks concluded 28 deals in 36 trading sessions in e-trading system (BEST).
FOCUS: Technology Buoys Retail Currency Trading, Reshapes Old Models Wall Street Journal By Eva Szalay Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Retail foreign-exchange trading is emerging as one of the biggest growth areas in the currencies space, and some of the trading firms that facilitate these flows are building up a whole new ...
Morgan Stanley Currency-Trading Head Stephen Mettler Leaves Bank BusinessWeek By Michael J. Moore Jan. 26 (Bloomberg) -- Stephen Mettler, who oversaw Morgan Stanley's interest rates and foreign-exchange trading businesses, has left the bank. Mettler, who joined the firm in 1997, retired, according to an internal memo obtained by ...
Bank of England and ECB Hold Steady, Indonesia Cuts CNBC.com [CNBC] ----------------------- MULTI CURRENCIES VS THE DOLLAR Tune In: CNBC's "Money in Motion Currency Trading" airs on Fridays at 5:30pm and repeats on Saturdays at 7pm. Learn more: The essential vocabulary for currency trading is on Key Currency ...
RELATED ARTICLESForex Brokers - Helping
to Maximize Your Success
A Forex broker is a broker dealing in foreign exchange,
just like real estate broker who deals in real estate and
properties. Simply, a Forex broker is an advisor who
advises you about the forex market.
Disgruntled
The following situation happens quite often to many
traders. Look it over and see if it has been happening to
you: You have been faithfully following your trading plan
and the rules you've set for trading.
Stopping
Yourself
I read on a bulletin board a traders comment that on his
first outing trading the E-Mini S&P 500 he lost on each
of his trades. He noted though, that had he had a wider
stop each of his trades would have been profitable and that
therefore he would be trading with a wider stop in future.
Day Trading Course or
Day Trading Technique Seminar: Learn Day Trading
Education
Profitable day traders recognize that momentum trading is
among the fastest & most effective ways to harvest BIG
piles of cash in the stock market.The problem is that if
you don't know what stocks to look for and how to approach
them while limiting your risk, you won't even get close to
making some profits.
Stocks Trading -
Advantages and Disadvantages
What is Stocks Trading? Companies throughout the world issue
new stock shares every day. They do so to raise capital in
order to invest in the business.
Assessing the
Opportunities Presented by the New Iraqi
Currency
Could it be possible that you are staring right into the
most spectacular financial opportunity of the century?
Operation: Iraqi Freedom will undoubtedly be a war marked
in history for loss and tragedy, American victory, and the
rise of a nation with a new democratic government. But
could it also be a war historically remembered for the
financial opportunity it created for the sharp investors
who keenly recognized an ephemeral chance at the right
time?The War on Iraq ended with a nation placed on the
footstool of many new operations.
How To Control Fear And
Greed In Trading
There is an old saying that the market is driven by fear
and greed. Anyone that has placed more than a couple of
trades will surely have experienced these two emotions.
Forex Training: Follow
Your Gut or Your Broker
Which way will the forex market move? Do you just follow
your gut feeling? Or do you have Neo's sixth sense that
would let you be one with the market and feel the
underlying currents. Trading forex is a non stop action
movie but a good one, where you really don't know who will
win at the end.
Where is the Market
Going?
If you ask me whether the market will have moved up or down
by this time next year, well I may as well flip a coin,
because I don't know. If you ask me whether the market will
have moved up or down by this time next month, well again,
I may as well flip a coin, because I still don't know.
Learn Forex Trading - a
Guide for Beginners
One can learn forex trading as easily as one would like to
learn other subjects or train in other professions. The
criteria for learning forex trading is an analytical /
logical bent of mind and some number crunching abilities.
Business and the
Forex
The business world is a complex web of supply and demand.
Money and goods, physical or otherwise, pass through the
global market every single day.
Online Futures Trading -
Advantages and Disadvantages
What Is Online Futures Trading?A futures contract is an
agreement to buy or sell a commodity at a date in the
future. Everything about a futures contract is standardized
except its price.
Forex Scams: How to Spot
Them A Mile Away
In recent years, investors have witnessed increased number
of investment opportunities and offerings. While the
complexity and success of these investment products vary,
technological innovation has made the Forex market one of
the fastest growth areas.
Options Trading -
Advantages and Disadvantages
What is Options Trading?An option is simply granting
someone the right to buy or sell something in the future.
In the case of Dow index futures options, when someone buys
a Dow call option they are buying the right to purchase
that underlying Dow future at a specific price, known as
the "strike price," at a future point in time, known as the
"expiration date.
Forex Signal, Forex
Signals Advice
There are lot's of Forex signals providers out there. New
Forex traders might be thinking of looking for a reliable
Forex signals provider.
Day Trading Success- The
Key Is Survival
Most new traders tend to focus just about all their time
and energy on finding nearly perfect "setups", but trade
setups, even very good ones, are *not* the key to
successful trading. It's the *way* you trade your setups
that keeps your losses smaller than your gains.
Writing A Trading
Plan
All professional traders have a trading plan. Trading
futures is a zero sum game and those with a plan (and the
discipline to apply it) will succeed over those that have
no plan.
Money Management, Part
2
FEARING LOSSESThere is a huge difference between being risk
averse and fearing losses. You must hate to lose.
Forex Trading Can Be
Like Day-trading
Forex trading, or foreign currency trading, has become a
bit of a craze of late, especially since it is something
available to anyone who owns a computer. And anyone who is
willing to put in some training time can profit from forex
trading.
Day Trading the Index
Futures - How to Judge Good Entries
QUESTION: If the SP futures fall through support and go
straight down for another two points, and I want to get
short, should I a.) enter immediately, b.
MORE RESOURCES updated Thu. February / 09 / 2012
