After finally putting in a first green week (last week), the S&P 500 ETF Trust (NYSEARCA: SPY) is still trying to find the strength to mount a lasting uptrend.
Is this another bear market rally? Or a meaningful reversal to the upside?
These are the questions we’ve been asking all year.
And although we’re no closer to a definitive answer, I think one thing has become crystal clear…
If you aren’t disciplined in this market, you’ll lose.
The whirlwind price action we’ve seen over the past several weeks is the only evidence you need.
Imagine a trader approaching these up-and-down, green-to-red days without a disciplined game plan … do you think they’ll achieve roaring success?
No … probably not.
That’s why I’m so excited for later this week when my buddy Tim Bohen is revealing his brand-new strategy, tailor-made for brutal red days…
Get ready to hear all about Bohen’s Red-Day Moonshots strategy next Wednesday, October 26 at 8 p.m. Eastern. You won’t wanna miss this special one-time event … sign up FOR FREE by clicking right here!
Don’t sleep on this … few traders understand discipline as much as Bohen.
But what do I mean by discipline exactly? And what specific steps can you take to stay disciplined?
Keep reading and I’ll show you…
Why Discipline Matters
Developing a winning strategy is difficult — but executing your game plan with discipline is even more challenging.
You only need to look at social media for a few minutes to see hundreds of clueless idiots rambling on about their incredible trading strategies…
But how many of these Twitter clowns can deliver consistent returns, year after year, and prove it? The answer: very few.
BOHEN: “5 Red-Day Moonshots For The Next Meltdown”
This has nothing to do with shorting crashing stocks…
So I know what I’m saying sounds like it shouldn’t be possible…
But these are hidden moves that have soared as high as 102%, 172%, 217%.… on days most other stocks sell off.
It’s all going down during my SHOCKING Red-Day Moonshots event with Tim Sykes.
This is why you can’t call it a day after simply developing a strategy. You’ve gotta execute it consistently.
The setups aren’t going to trade themselves … there’s still a lot of work ahead for you. This is where discipline becomes so important…
Approach your trading like a sports team takes on a big game. If they run their plays perfectly all week in practice, that’s great — but they’ve still gotta deliver the goods on game day.
Trading your own money is a whole different ball game than developing a strategy. Emotion quickly become many traders’ biggest enemy.
Some people can do incredible technical analysis, but once they start actively trading, it’s a disaster. They become emotional wrecks who inevitably fail.
In the end, it’s all about discipline. You’ve gotta keep your eye on the prize and your mind on your goals.
The Key to Staying Disciplined
Now that we’ve established why traders must be disciplined … let’s talk about how exactly you can work to stay disciplined…
One of the biggest enemies of discipline is the fear of missing out. I see FOMO leading to bad trades all the time…
Traders will go on social media and see someone else making a play, then try to piggyback onto said play, regardless of whether it fits into their strategy or not.
This is a CRITICAL ERROR, one that I’ve seen ruin otherwise excellent traders.
You see, FOMO can lead to traders taking on setups they aren’t ready for. Even worse, it can spark a vicious cycle of overtrading, which can cause huge losses.
So, if you’re alerted to a play that looks intriguing, don’t simply jump into it without discipline.
$127k in just 24 hours?! 😳
Did you catch the Shadow Trades Summit with Tim Sykes and Mark Croock?
Mark pulled back the curtain on his shadow trades strategy…
Detailing step by step how he was able to make $127,000 in just 24 hours, during the middle of a market crash!
Do your own due diligence and ask yourself the following questions…
- Does the setup check all the boxes on ‘The 3-Item Checklist’?
- Does it fit into your game plan?
- Do you have a clear entry and exit strategy?
If you don’t answer yes to all of these questions, then you’re probably only interested in the play because of FOMO.
Discipline is the name of the game, Evolvers…
Don’t worry about what others are doing. The key to staying disciplined is to avoid FOMO at all costs.
Stick to your strategy and only trade the setups that fit.
And speaking of strategies, don’t forget to reserve your spot for Bohen’s Red-Day Moonshots event this Wednesday, October 26 at 8 p.m. Eastern. Sign up FOR FREE by clicking right here!