Blog: Let us discuss DISCIPLINE.

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4 comment(s). Last comment by Stock Prince (股票王子） 2021-02-23 20:13

wehcant

1,259 posts

Posted by wehcant > 2021-02-22 21:48 | Report Abuse

Trading turtle rules are still applicable today. In 1983, legendary commodity traders Richard Dennis and William Eckhardt held the turtle experiment to prove that anyone could be taught to trade. The answer is DISCIPLINE.

Stock Prince (股票王子）

5 posts

Posted by Stock Prince (股票王子） > 2021-02-23 20:06 | Report Abuse

Agree with you.

Stock Prince (股票王子）

5 posts

Posted by Stock Prince (股票王子） > 2021-02-23 20:10 | Report Abuse

Oftentimes, traders have the right strategy but when minor losing streak comes(which is inevitable), they are unable to be disciplined controlling losses, they hesitate cutting losses and hold positions hoping it will recover, which can be called "disposition effect" in behavioral finance. Due to this, some got their capital and profit burnt severely.

Stock Prince (股票王子）

5 posts

Posted by Stock Prince (股票王子） > 2021-02-23 20:13 | Report Abuse

Small loss+small win; small loss+big win;big loss+big win; big loss+small win. I will avoid "big loss" at all cost as it will break a trader's career. When big loss comes "what does not kill him might not make him stronger".

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