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HAVING A SUCCESSFUL TRADING PLAN is STEP ONE to becoming a consistently successful trader, AND… it is actually the simplest part to accomplish. The tough part, for the vast majority of traders, is to control your emotions enough to run your tested trading plan without DOUBTING IT MID-STREAM. NOW THIS IS IMPORTANT… I’ve recently developed a concept called “Flashpoint!”™. The Flashpoint! for a trader is the moment in time where a trader makes the decision to either follow his/her trading plan command (good) or make an excuse not to (bad). In essence, all a trader does is make decisions at Flashpoints! … the plan gives you a signal, you take it (or not). Then after, say, taking the signal, a stop must be placed at a specific place according to plan.. another Flashpoint! A successful trader follows his or her plan without fail, where every Flashpoint! results in a decision to follow the plan… without hesitation. For most traders (every trader?).. this is a learned ability. Miriam Webster defines ‘flashpoint’ as… “a point at which someone or something bursts suddenly into action or being” WOW.. that’s perfect for a trader! OK… now I have a question for you…. “What Stops YOU From Making the RIGHT Decision Every Time (the decision to follow your trading plan)..when you reach a Flashpoint! ? I know that MOST of the time you may make the right Flashpoint decisions. But WHEN YOU DON’T.. what’s the reason? You see, your answer is VERY important. The market is not a forgiving environment.. and all it takes is one bad decision to ruin your trading results, and in extreme cases, even wipe out your account. Please dig deep and share your thought below.
