Through many years trading, I know the importance of being 100% disciplined and I also know that discipline must be 100%, not 99% or 99.99%. No matter how great my trading skills or past performance are, I can lose large trading capital in a relative short period of time if I can't be 100% following my rules and plan.
In order for me to be 100% disciplined, I created Virtual Discipline System and finally found a Discipline Partner who will manages or monitors the VDS to ensure I follow my rules an plan 100% or he can shut down my trading platform.
Our DP is a very reliable person and he is the perfect person to manage the VDS. What I want to see is how he does his jobs per our plan or train him to do so if he is not ready.
I made so tests on Sep 13... of course, it took some practice for our DP to perform his dutis according the VDS and his plan. He now fully understands the importance of his responsibilities which are to monitor my trades using the VDS and act as a safeguard to protect our client trading capital.
With our VDS managed by the DP, we are totally different than what I was before. Any past trade records other than what we have here can't be used any more. I am now forced to be 100% disciplined of following my trading rules and plan.
As long as I can do all the right things that are to follow my trading rules and plan 100%, A) Our client trading capital can be protected at least up to 70%; B) My trading results can be more consistent than even.
To me, all I need to do is to follow my trading plan and produce 5% weekly return for our clients.
To our DP, make sure you are the lifeguard for me and our clients per the VDS.
To our visitors or clients, trading Forex on margin is risky. Only invest money you can afford to lose to our program.
Many testings, especially the VDS must be tested before accepting new clients. Are they working well?
Still not doing well on my first trade but closed it before hitting SL. Make some improvements on other areas.
Must remember, all I need to do is to produce 5% weekly return and improve myself every day.
It's a short week and I did 3.9% on our live slave account.
I did follow my trading rules and plan much better than before because of the VDS and my DP. However, I need to be patient to wait for the best setups to start a trading day. I lost almost all the first trades of the day.
Yes, I must be patient for the best setups. Trading opportunities are unlimited. I should never be worry about missing trades. I must just need one or two good trades to make my week because all I need is to produce 5% weekly return for our clients.
Being 100% disciplined and following my rules and plan are more important than trading results. I must improve myself every day.
My first trade was a loss again even I was right about the direction. I must be patient to wait for the market to complete its consolidation before entering a position, especially the first one.
I did end today with 1.6% and I must remember all I need is to produce 5% weekly return consistently for our clients.
I must also achieve my other trading goal which is to make improvement on my trading and my mental skills.
Need to do weekly review later for find the areas I need to do better.
I was worry about what would be the outcome when I was trading. I must focus on doing the right things instead of the outcomes. If I can improve in this area, I may trade much better because emotion free trading is what I need the most.
We all know making the right trading decisions is ver difficulty. I told me to go short on EUR when the market pulls back per my trading rules which was a good thought. However, I went long as my trading decision, twice.
I told me to go short again if the market break 1.4025 but I did not do anything but watching the market moved down 40 pips in 10 minutes.
Making the right trading decision is tough and is the only thing matter to our performance even my thinkings are right at the first place.
Making wrong trading decision is part of mental weaknesses. I must learn and make constant improvement.
Anyway, I only focus on improve my self and produce 5% week return consistantly for our clients. Yes, only 5%/week.
It's a good trading week for meeting my 2 goals, 7.4% ROI and improvement for less trades (6 wins and 5 losses)
Must continue to trade with only the best possible setups next week. There will be some challenge because I am now offering our investment program to the public and auto trading the new live account if mt247 can set it up correctly before the market is open.
To overcome my emotion, I must accept that I may win or lose but I must do all the right things which is to follow my trading rules and plan. I also need to really enjoy losses as long as they are manageable because I must look into a longer term not every week for consistent returns.
Yes, all I need is 5% weekly return on average consistently (not every week) to produce 1,000% or more profit for our clients.