The Raw Truth Behind Trading Discipline
In today's episode of the Forged Trader podcast, Gates Adams openly shared his struggles with maintaining trading discipline and mindset. He recounted a challenging day where impulsive decisions led to significant losses, nearly causing him to quit trading and coaching. Gates discussed using a mindset tool to manage his emotions, realizing the importance of discipline in trading and other areas of life. Despite the difficulties, he remained committed to his journey, hoping to inspire listeners by sharing his experiences and the lessons learned.
“Trading is the ultimate test of self-control, a challenge that surpasses any I've faced in other areas of my life.”
What you will learn:
Facing Trading Challenges
Struggling with Discipline
Revelation on Discipline
Gaining Insight from Challenges
Connect with Gates Adams:
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RISK DISCLOSURE:
Futures and Forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing one's financial security or lifestyle. Only risk capital should be used for trading, and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
HYPOTHETICAL PERFORMANCE DISCLOSURE:
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 similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally 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 of actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses is 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 trading results.
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