How Strict Rules Can Save Your Trading – #Insights #PhilGoedeker #trader #tradingpsychology
📈 Rules and Discipline in Trading: How to Stay Consistent and Avoid Costly Mistakes!
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In this Com Lucro video, we dive into the crucial role of setting and following strict rules in trading. Just as discipline is essential in other areas of life, successful traders adhere to a solid set of guidelines that help them avoid significant losses and build consistency. We share an in-depth reflection on how discipline can protect weeks or months of hard work, preventing both financial and emotional setbacks. Join us as we explore how maintaining a disciplined mindset can strengthen your path in the financial markets.
👉 Key Points:
Importance of having a set of trading rules
How to avoid losses that could jeopardize weeks of progress
Emotional impact of losses and strategies to manage them
Consistency and a clear mindset for a solid journey in the financial markets
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#TradingDiscipline #TradingRules #ConsistentTrading #RiskManagement #FinancialMarkets #TradingPsychology #TraderMindset #TradingStrategies #FinancialLosses #TradingConsistency
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you know when I was young I grew up in a
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fairly strict house always knowing right
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from wrong and for the most part always
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been able to decipher what I should or
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should not be doing and now that I'm a
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parent I realize that having and
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enforcing a set of rules is extremely
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important part to an orderly and
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functional household and any Trader that
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wants to make it for the long haul must
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also have a strict set of rules and make
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sure we stick to them because at the end
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of the day what G are rules even if we
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break them maybe two to three times a
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year you know there's nothing worse to
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me personally than taking loss in the
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market that can wipe out weeks or maybe
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even months of trading you feel like the
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last several weeks or months got simply
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flushed down the toilet you know you
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spend day in day out grinding out wins
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grinding out trades only have everything
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you know be wiped out it can be mentally
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demoralizing and very hard to get your
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mind back on reset you know it's the
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financial part of the loss that hurts
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the most but the mental and emotional
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part we can can be just as bad because
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if you're not trading with a free and
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clear mind you may as well go home
