Have you blown up your trading account before?
Have you blown up your trading account before?
Bill Lipschutz, the $12 billion Forex trader, says it’s not your strategy.
It’s your discipline.
Master these 5 discipline lessons from Lipschutz to trade part-time and still keep your day job:
- The Art of Inaction
Waiting is winning in the trading game
- Identify high-probability setups before entering trades
- Set alerts for specific price levels
- Practice mindfulness to curb impulsive actions
Patience pays. The market rewards those who wait
- Checklist Champion
A trading plan is your success roadmap
- Create a detailed pre-trade checklist
- Review checklist before every trade entry
- Evaluate adherence after each trading session
Stick to your plan. It’s your edge
- Time-Bound Triumph
Less trading often leads to more profits
- Set specific trading hours and limits
- Use a timer during trading sessions
- Step away when daily goals are met
Control your time, control your trades
- The Power of No
Saying no to bad trades builds wealth
- Define clear risk parameters for trades
- Use position sizing to limit exposure
- Automate stop-losses to remove emotion
Protect your capital. It’s your lifeline
- Mirror, Mirror on the Wall
Self-reflection separates amateurs from pros
- Schedule weekly trading performance reviews
- Analyze both winning and losing trades
- Identify patterns in your trading behavior
Face your flaws. Growth lies in discomfort
To learn more about How you can Start Trading for a living, sign up below for my Free Training on the “7-Steps to Financial Freedom through Trading”.
