SMTina's Educational Lesson- The Disciplined Trader
Simply put: to show traders that you can make money with “small” consistent wins. Something happens to your psyche when you no longer look to make over 25-30k per trade. Your expectations are tempered and this does a few things that will ALWAYS work in your favor.
One: It allows you to focus on the process and less about the outcome.
Two: Focusing on the process, will hopefully allow you to make better trades.
Three: Focusing on “better” trades means you will: manage risk.
Four: Managing risk (thinking about what you will lose if you’re wrong) will lead to a more disciplined trader. Have a predefined entry (where will I buy this stock); predefined exit (where do I want to start unloading this stock).
Five: Being a disciplined trader, means you have a set of rules you consistently follow (Methodology).
Six: As a disciplined trader, you are aware that you will win some and you will lose some.
Seven: Disciplined Traders come out on top 99.9999999999% of the time!