Discipline Cycle 3of5 Confidence Day Trading E-Mini Futures Crude Oil Futures Gold Futures
Our 3rd video of this 5-video series we talk more about the 5 evolutionary stages to our Discipline Cycle.
Where did we leave off last time?
•In Video #1 we heard from Joseph James himself as he shared his story of how he developed the Discipline Cycle itself, and we were introduced to the First Phase, which is Discipline, to follow your rules and only take the very best trade set-ups according to your mechanical rules.
•In Video #2 we were introduced to Consistency, the second phase of this 360-degree cycle. This Consistency in your trading comes from seeing the same patterns and the same set-ups with consistency you will begin to see the same consistency in your trading as well.
In this 3rd video of this 5-video series we get introduced to the 3rd phase of the Discipline Cycle:
Confidence
Confidence is like OXYGEN to a trader.
Without Confidence we may last for a few hours, day, weeks, but eventually we will die from lack of confidence as our trade account dwindles down lower and lower each stop we take b/c we dont have the confidence we need to take only the BEST patterns defined by our rules.
A professional trader would trade thousands of dollars for an ounce of confidence b/c we all know that a confident trader is a profitable trader, and without the confidence, traders know they wont last long.
Remember
•Discipline Cycle® begins with Discipline to follow those rules,
•Which leads to Consistency in your trading,
•That Consistency leads to Confidence in your trading!
Whats next?
Keep an eye out for the 4th and 5th videos in this series to learn the final evolutionary phases of our Discipline Cycleyou DONT want to miss the rest of this series!
Hope it helpStick to those Rules!
See you in the Live Trade Room tomorrow @ 745am EST
(Dont forget! Last day of Trading in 09 is Dec 11th!)
Duration : 0:4:55
