I realised during the week that two of the concepts we discussed in previous years could be combined in a way to help with intraday discipline. The First Concept: Don’t Break the Chain This was introduced back in 2013 via the following article: Don’t Break the Chain – A Simple Tool to Improve Consistency Please…
We’ve all felt that temptation to move the stop. It’s easy to rationalise, at the time. “It just needs a little more room. And just this once. I promise!“ Here’s the reality though: You weren’t really “giving the trade more room”. You were scared of taking the loss and afraid to admit it. You didn’t…
Far too often we just accept the default options provided by our trading platform and other tools. Without any thought as to whether or not they can be improved. Ok, maybe not you, but I’m certainly guilty of this. It’s time to change that. A fortnight ago we discussed a habit I saw creeping into…
In the fallout of the Will Smith & Chris Rock incident this week, our social media world was overwhelmed with memes. Some of which were quite clever and make social media almost borderline bearable. But not this one. This one led to an involuntary “FFS!” response followed by rapid scrolling. Nope! Sorry. It’s not that…
Let me cherry-pick a perfect textbook example of the concept I want to discuss today. This was the opening sequence from Monday’s NQ futures, 1 minute chart: Brilliant uptrend, right? Right? No? Ok, maybe a downtrend then? My hope is that 100% of you had resistance to the idea of this being an uptrend. I…
How Can I Get More Discipline? Here is an excerpt from an email I recently received: EMAIL (Excerpt): … one of my biggest hurdles is still discipline. I’m beginning to think I might need some help in this area. Do you know of anyone who has successfully helped people with their discipline? RESPONSE: Poor discipline…
