{"id":20227,"date":"2022-10-20T07:30:14","date_gmt":"2022-10-20T11:30:14","guid":{"rendered":"https:\/\/www.jeffclarktrader.com\/?p=20227"},"modified":"2022-10-20T07:30:14","modified_gmt":"2022-10-20T11:30:14","slug":"three-simple-ways-to-become-a-disciplined-trader","status":"publish","type":"post","link":"https:\/\/jeffclarktrader.com\/market-minute\/three-simple-ways-to-become-a-disciplined-trader\/","title":{"rendered":"Three Simple Ways to Become a Disciplined Trader"},"content":{"rendered":"

Most traders lose money consistently.<\/p>\n

A study of Brazilian futures traders<\/a> found that over 97% of day traders lost money over 300 days.<\/p>\n

Another study conducted by the U.S. Securities and Exchange Commission (SEC)<\/a>, found that 70% of traders lose money every quarter on average and typically lose all their money within 12 months.<\/p>\n

I’m a very rare exception. In fact, while beta testing my forex strategy<\/a> I saw a 100% win-rate… a perfect 13 for 13 trades.<\/p>\n

But what makes me the exception has little to do with talent or luck.<\/p>\n

Instead, it has to do with the fact that I focus on the things that most traders find boring or tedious.<\/p>\n

If you focus on the same things I do, then it’ll greatly increase your odds of also being a consistently successful trader…<\/p>\n

Avoid Doing What Most Traders Do<\/h2>\n

My approach to cracking the code on trading is simple.<\/p>\n

If most traders lose money, then I want to avoid doing what most traders do. Most traders often take many trades almost every day.<\/p>\n

They also focus almost all their energy on learning to read a price chart or on how to pick a good stock, cryptocurrency, or whatever else they’re interested in trading.<\/p>\n

And while I do believe that learning how to read the market is a crucial skill, it isn’t any more important than being an expert on risk management.<\/p>\n

The problem is that risk management is boring. Nobody wants to spend time on it.<\/p>\n

Most traders think that if they can learn to predict the market, then they’ll make some money. But this just isn’t true and the statistics back me up.<\/p>\n

Furthermore, when you take a bunch of trades, you’re going to bury yourself in fees and commission costs. It’s far better to trade less frequently and to focus on high-quality trades instead.<\/p>\n

On average, I only take on one to two trades a week, which means I have to make those trades count.<\/p>\n

That’s why I focus so much on good risk management.<\/p>\n\n\n\n
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Free Trading Resources<\/strong><\/p>\n

Have you checked out Jeff’s free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career \u2013 at zero cost to you. Just click here<\/a> to check it out.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Three Steps to Follow on a Trade<\/h2>\n

Yesterday, I covered the technical analysis behind my most recent forex trade<\/a> on the U.S. dollar and Canadian dollar currency pair (USD\/CAD).<\/p>\n

Jeff Clark Alliance<\/em> members received my trade alert on October 5. By October 11, we were able to exit the trade for a great gain. But a lot happened between receiving the trade alert and exiting the position completely.<\/p>\n

You see, on every trade I like to follow a simple method. Here’s how it works:<\/p>\n

Step 1: Reduce Risk<\/strong><\/p>\n