{"id":44381,"date":"2016-09-27T21:21:40","date_gmt":"2016-09-28T01:21:40","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=44381"},"modified":"2016-09-30T10:31:34","modified_gmt":"2016-09-30T14:31:34","slug":"you-cannot-do-this-and-be-a-successful-trader","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/you-cannot-do-this-and-be-a-successful-trader","title":{"rendered":"You cannot do this and be a successful trader"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"600\" height=\"338\" src=\"https:\/\/www.youtube.com\/embed\/Zf8YbSibTts\" frameborder=\"0\" allowfullscreen><\/iframe><\/p>\n<p>Last Friday as I was walking off our trading floor, a beaming SMBU student yelped at me, &#8220;Bella I could hug you after today.&#8221; \u00a0He was very pleased with the progress he had made as a trader.<\/p>\n<p>Fast forward to today and that same trader caught me hitting the elevator for my walk home. \u00a0I asked him how trading went for him today.<\/p>\n<p>He said, &#8220;Bella as good as I did last Friday, I did as poorly today. \u00a0I just did not have the discipline to enter my trades at the price that I wanted.&#8221;<\/p>\n<p>I am going to write something now, for which you must follow no matter what product or time frame you trade.<\/p>\n<p>You cannot become a successful trader if you do not enter your positions at excellent prices!<\/p>\n<p>You cannot ever become a big trader.<\/p>\n<p>You cannot ever become a consistent trader.<\/p>\n<p>You cannot ever become a sustaining trader.<\/p>\n<p>Shark does this so well on our desk. \u00a0Team Shark members marvel at his trading technique with, &#8220;Shark will not enter a position at a bad price.&#8221; \u00a0He will just let the trade go if he does not get his entry price. \u00a0He trades big. \u00a0He trades consistently. \u00a0Fast forward ten years and he will be trading on a trading desk, if he so chooses.<\/p>\n<p>This is not an issue of discipline for traders. \u00a0This is an issue of survival. \u00a0This is an issue of trading technique. \u00a0The trading technique of the skilled trader is: we do not enter, save at excellent prices. \u00a0It&#8217;s not a trade if we cannot enter at excellent prices.<\/p>\n<p>If you catch yourself entering at forced prices, at prices that are not where you want, just understand you are developing habits and employing a trading technique that will not allow you to be successful long-term in the pursuit of trading. \u00a0Instead of saying, &#8220;I was not discliped&#8221;, when you enter at a bad price,\u00a0 say, &#8220;I will not be a trader if I continue to enter at poor prices.&#8221;<\/p>\n<p>That is a more accurate statement. \u00a0That is the trading truth. \u00a0And it is just poor trading technique that cannot be employed if your goal is to win.<\/p>\n<p><b>Related posts<\/b><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/the-setups-with-edge-from-winning-traders\">The setups with edge for winning traders<\/a><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/the-trade-that-propelled-one-trader-to-start-winning\">The trade that propelled this trader to win\u00a0<\/a><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/the-trade-that-propelled-one-trader-to-start-winning\">A favorite trade of active professional winning traders<\/a><\/p>\n<p>*no relevant positions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last Friday as I was walking off our trading floor, a beaming SMBU student yelped at me, &#8220;Bella I could hug you after today.&#8221; \u00a0He was very pleased with the progress he had made as a trader. Fast forward to today and that same trader caught me hitting the elevator for my walk home. \u00a0I asked him how trading went &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/you-cannot-do-this-and-be-a-successful-trader\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":44394,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[4674,18,1828,1193,653,1348,1354,1349],"class_list":["post-44381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-comments-2","tag-one-good-trade","tag-smb-capital","tag-smbu","tag-trader-education","tag-trader-training","tag-trading-author","tag-trading-coach","tag-trading-mentor"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>You cannot do this and be a successful trader | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/you-cannot-do-this-and-be-a-successful-trader\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"You cannot do this and be a successful trader | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Last Friday as I was walking off our trading floor, a beaming SMBU student yelped at me, &#8220;Bella I could hug you after today.&#8221; \u00a0He was very pleased with the progress he had made as a trader. Fast forward to today and that same trader caught me hitting the elevator for my walk home. \u00a0I asked him how trading went ... 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