First and foremost, you need discipline and you don't need much else. You cannot be successful as a trader unless you have the ability to carry out your own decisions without second-guessing them every step of the way. A seat-of-the-pants trader is never successful because emotion always gets in the way – in fact, a seat-of-the-pants trader is trading almost exclusively on emotion. This kind of trader usually thinks s/he is performing analysis of the news or analysis of price and volume, but it is really just emotional reactions to those things, not analysis at all, and that is almost certain to fail over virtually any time frame. If you don't have and follow rules, then you are trading by emotion, the deadliest of trader sins.

"Sophisticated" technical analysts are among the worst traders because they think they are being scientific by using complicated formulas, but in fact, most technical indicators, especially the more complex ones, can be read any way you want to read them, and the trader can also select which indicator s/he wants to follow in any given situation, adding another level of subjectivity to the trading decision. Most technical analysts "interpret" the data to support the trading decision they have already made unconsciously, or to support the trade they have actually already made, and they don't have a clue that their choices of indicators, time frames and interpretation are all being governed by emotion.

Our service helps you to avoid emotional trading by providing a firm set of simple, common sense principles and clear guidance on how to implement them. We don't just train you in abstract principles, though. We show you in real time how to do it with specific advice on exactly what to do, when, and why. Along the way, we also point out the pitfalls and temptations that get in the way of successful trading.