Are You “Chasing” Trades? Here’s how to stop permanently…
Your trading plan has given you the “GO” to take your long position.
For whatever reason, you missed the initial entrance point and now you’re watching the market go up without you.
Has this happened to you recently?
Wait… I’m not done.
Your “almost” position continues higher and now you’re nearly halfway to where your system would have you take your profit. Boy, the market looks strong.
Should you get in “here” instead of just keep watching it go up? The market looks destined to hit your target and at least you’ll get the last part of the profit!
You hesitate a little more. The market goes up more.
You can’t stand it any more… You jump in!
Wait! What’s this? The market is stalling. It’s almost like they were waiting for you to get in to take it back down.
You can guess the rest. I mean, you’ve lived it, haven’t you?
We all have.
Many of us have lived it OVER and OVER again.
When will we learn not to chase markets?!
Gerry Schwartz, a trader from Los Angeles, HAS LEARNED not to chase markets.
How?
Watch Gerry’s 3-minute video in the middle of this page (scroll down to the middle of the page after tapping this link… he’s the guy in the glasses)…
What’s actually happening when we feel the urge to chase a market?
What’s happening is that we are trying to make it “all right” that you missed the trade.
If you recall from your own experience, as the market is going up without you, you actually start ROOTING AGAINST your trading methodology.
You want the market to come back down (so that you can either get in where you were supposed to… or even worse, to get in at a better price and call yourself a genius for getting in at a better price than you trading plan directed you).
It’s all about covering up your ill feelings about yourself for not being disciplined enough to take the darn signal and ACT, when your trading plan tells you to act. When you don’t take the signal, you feel like a jerk.
And in a way you are!
I mean, why spend all the time developing and backtesting your trading system if you’re not going to COMMIT to the signals it gives you!
The answer…Fear.
Mostly fear of failure.
But that’s for another email.
The truth is that it doesn’t matter WHY you lack trading discipline!
I mean it’s nice to know why so you can undo your poor thinking patters.
But the great thing is that you can develop positive discipline pattern as a trader by just doing a “little something” every morning before you start trading…
Like Gerry Schwartz.
Spend the next 3 minutes listening to Gerry on how he stays disciplined and doesn’t chase markets anymore.
Then ask yourself if YOU are ready to change.
(scroll down to the middle of this page to see Gerry’s 3 minute video…he’s the guy in the glasses)…
Your mind will keep you disciplined if you just spend a few minutes a day training it. Ask any consistently successful trader.
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