Trading can be very emotional, especially for less experienced and less successful traders. You need ‘discipline’ in your trading, otherwise you will continue to hang-on to losing trades longer than staying with winning trades.
Without discipline or risk management, you will run out of risk capital, before you can learn how to become a more successful trader.
While consulting with my friend and associate, Brian McAboy, on his latest book,‘The Subtle Trap of Trading’, (a must read for every trader), I was very impressed with his Suit of Armor Trade Planner.
With his permission, I am able to pass this along to you, with the hope that the few extra minutes that you take to Plan your next trade, will be more rewarding, both emotionally and financially, as you improve your trade discipline.
Go to ‘The Seven Traits of Winning Traders’ on our site for further helpful hints by Brian McAboy.
To receive your Free Copy of the Suit of Armor Trade Planner: Call us @ 1-800-929-9985, or e-mail bkozak@alaron.com
Required Disclaimer:
Hypothetical performance results have many inherent limitations, some of which are described below.No representation is being made that any account will or is likely to achieve profits or losses similiar to those shown throughout this website.In fact, there are frequently sharp differences between hypothetical performance trading results and the actual results subsequently acheived by any particular trading program. One of the limitations of hypothetical performance trading results is that they are generlly prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading.For example, the ability to withstand losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results.
REQUIRED FUTURES TRADING DISCLAIMER:
If you purchase or sell a commodity future or sell a commodity option, you may sustain a total loss of the initial margin funds and any additional funds that you deposit with your broker to establish or maintain your position. If the market moves against your position, you may be called upon by your broker to deposit a substantial amount of additional margin funds, on short notice, in order to maintain your position. If you do not provide the requested funds within the prescribed time, your position may be liquidated at a loss, and you will be liable for any resulting deficit in your account.
Trading in commodities involves a high degree of risk. The information above does not guarantee positive results, but can be used for informational purposes. Past performance is not indicative of future results.
