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Old 10-16-2006, 10:08 PM
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Soultrader is focusing on discipline.

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This member is the original thread starter. Re: A New Traders Journey to Success

Once you are able to trade following youre setups religiously you will turn into an automatic pilot mode. Meaning.... just by watching your charts you can idenitfy all your setups easily and take you take each trade as if you just got dealt a decent starting poker hand.

Stage 5 will come naturally with experience. Have a journal and identify why you took the setup, your psychology during the time of the trade, and rate each trade. Reflect back on it and fix whatever you need to fix. Practice will take you to Step 5. I think for most new traders getting past Stage 3 is the hardest. They will fail before they even reach stage 4.

Stage 6 is reached from experience. Traders start building intuition...something that can only develop through thousands and thousands of obsevertation and trading. Experience is the greatest teacher in trading.

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