The above three words have been written about many times by Bella and Steve and you have read about them in countless other places. Becoming consistently profitable in day trading requires the knowledge and use of all three!
I would like to give a simple thought from my trading yesterday intertwining the three principles… At one point yesterday if you kept your discipline, focused on the tape and had patience, you were posting on Stocktwits instead of forcing a trade.
I posted on Stocktwits at 1:10 pm: “Caught $MCP short this morning,now sitting on hands watching $RIMM chop people up”. Then at virtually the same instant GMAN posted: “Watching paint dry seems to be more enjoyable than this price action. Back to the grind.” Coincidence? Maybe, maybe not. What do you think?
Jeff Davis @Shaq48_Trading
One Comment on “Discipline, Focus and Patience”
Not at all a coincidence. It’s clear you guys share a common perspective, and have also mastered the ability to wait for compelling trades which satisfy your threshold for entry, an active challenge for me.