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Articles

Home > Currency Trading  > Ways to Acquire Discipline in Trading 

Feds arrest 2 Winnetka futures dealers on fraud charges - Chicago Tribune

The Money Times

Feds arrest 2 Winnetka futures dealers on fraud charges
Chicago Tribune, United States - 17 hours ago
The government calls Martin a "de facto" official of the currency-trading concern, although he was prohibited from holding a position with the company. ...
Calif man arrested in alleged fraud scheme BusinessWeek
2 charged in alleged $15M fraud scheme United Press International
Suburban men arrested for business fraud Crain's Chicago Business
CBS2 Chicago - CBS 2all 150 news articles

Ways to Acquire Discipline in Trading

One way to acquire discipline in trading...

"Hey Joe! When you were teaching us at our Forex office in Florida, you stressed discipline. Our head trader stresses discipline. What I want to know is if discipline can be acquired or is it just something you are born with? I'm having trouble finding it in myself." - trader -

Personally, I believe discipline can be learned, although at times it is very painful. When I began trading, I was a very undisciplined person. But trading and the markets forced me to become disciplined. Was the discipline already there and just needed to be extracted? Or did I actually learn it? I can't truly be sure.

One of the largest trading firms kept their offices near Yeshivas. A yeshiva is a rabbinical school that produces rabbis of the Jewish religion. The students coming out of the yeshiva were highly disciplined and made excellent traders. Was the discipline innate in those yeshiva students? Or did they learn it under the strict supervision of the rabbis who controlled their lives? I think they learned it.

I've mentioned previously that it can help to keep a journal if you want to learn discipline. The journal I kept was very basic and included what trades I made during the day and my reasons for getting into the trade. It is what I did with the journal that helped me to be disciplined. Anyone can make entries into a journal. I let the contents of my journal keep me in line. It became my supervisor. I took to heart what I wrote there. I no longer keep that kind of journal because it has served its purpose in making discipline into a habit in the way I trade.

Joe Ross
Trading Educators Inc.

Joe Ross, trader, author, trading educator is one of the most eclectic traders in the business. His 47+ years include position trading of shares, and futures. He day trades stock indices, currencies, and forex. He trades futures spreads and options on futures, and has written books about it all - 12 to be exact. Joe is the discoverer of The Law of Charts?, and is famous for the Ross hook? and the Traders Trick Entry?.

Trading Educators, Inc.
Trading Educators was founded in 1988 by Master Trader Joe Ross. He is the president of Trading Educators and actively supports his customers with his experience of more than 47 years of trading.

The Team at Trading Educators is composed of an international blend of experienced traders, all educated and proficient in the Joe Ross methods. Our professional staff trades regularly in the markets.

Since its foundation Joe Ross and the Team at Trading Educators have taught thousands of satisfied customers who use Joe's concepts to produce significant profits in today's markets.

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Dollar rises versus euro in late trading Wednesday (AP via Yahoo! Finance)
The dollar rose against the euro late Wednesday night in New York. The 16-nation currency traded at $1.3588, down slightly from $1.3614 in late afternoon trading on Wednesday. Singapore dollar falls to new multi-week low against US currency (Nasdaq)
(RTTNews) - Against its US counterpart, the Singapore dollar showed weakness during Thursday's early trading. At 1:15 am ET, the Singapore currency declined to a new multi-week low of 1.4850 against the US dollar, compared to 1.4723 hit late New York Wednesday. Dollar rises against the Canadian currency in trading late Wednesday night (Canadian Business)
The dollar continued rising against the Canadian dollar late Wednesday night in New York. The U.S. currency bought 1.1983 Canadian dollars, up Alaron Currency Comment (Ag Report)
CHICAGO - Jan 7/09 - SNS -- Following is the currency futures comment from Alaron Trading Corp. The DX opened lower at 83.18 against most major foreign currency markets after weak data on Mortgage Applications (- 8.2%) and the private sector ADP Employment Survey showing a loss of 693,000 jobs. Dollar moves higher against the Canadian currency in trading late Tuesday night (Canadian Business)
The dollar rose against the Canadian dollar late Tuesday night in New York. The U.S. currency bought 1.1850 Canadian dollars, up from 1.1796 Teen prefers currency trading over Myspace and is making money doing it (WHAS TV11 Louisville)
(WHAS11) - Multi-national corporations, Hedge funds and large financial institutions buy and sell trillions of dollars in currency everyday. While a student at Sacred Heart High School, Annie Cassaro decided to get a piece of that pie. Dollar higher versus euro in late trading (AP via Yahoo! Finance)
The dollar continued rising against the euro late Tuesday night in New York. The 16-nation currency traded at $1.3491, down from $1.3523 in late afternoon trading on Tuesday. EUR/USD: Trading the German Retail Sales (Daily FX via Yahoo! Finance)
The euro could strengthen against its currency counterparts throughout the following session as economists expect retail spending in Germany to increase 0.5% in November on the back of falling oil prices. Thailand Currency Climbs To 2-day High Against Dollar (Nasdaq)
(RTTNews) - During early Asian deals on Wednesday, the Thailand currency advanced against the US dollar. The dollar-baht pair that closed yesterday's trading at 35.0650 reached 34.9150 by about 9:35 pm ET. This set a 2-day high for the Thai baht. China to Encourage Foreign Currency Debt, May Allow Junk Bonds (Bloomberg)
Jan. 8 (Bloomberg) -- China will encourage sales of foreign currency debt and may allow small- and medium-sized companies to sell junk bonds in an effort to develop domestic capital markets.
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