| Stuart McPhee and Mark Cook tackle some stock | | | | crossed and every 'i' is dotted, all details are paid |
| market trading tips. | | | | attention to so I think that is a mindset. So I don't |
| Mark:'I have a saying Stuart, if you can find a job to | | | | think it has to be as quantitative as people think. I'm |
| do that you love, you'll never work a day in your life. | | | | going to be regimented to be out here at this point |
| And that is what trading is. I love to do it. It's like a | | | | and this point or only x amount of money. |
| hobby, it's like pleasure, and I get paid for it and get | | | | It's more the mindset of, I'm protecting my assets |
| paid very handsomely for it. But I don't want to | | | | and that's the number one focus of what I do. The |
| underemphasize the seriousness of it. You have to | | | | profits take care of themselves, the losses have to |
| go in there with a plan, you have to go in there with | | | | be governed. Now if that's discipline, that's what I |
| a habitual routine, you have to go in there with | | | | say. Discipline is not that every day I have to have a |
| desire, you have to go in there with passion and you | | | | black pen and a blue pen and I have to sit a certain |
| have to be tough.' | | | | way when I'm trading and I have to read the |
| Stuart: 'Character attributes of successful traders. I | | | | newspaper at a certain time. Those are more quirks |
| often talk about it. Is discipline overrated? Everyone | | | | than anything else. |
| talks about discipline, it's almost clichéd when | | | | But the other side of the thing is this, in a certain |
| it comes to trading. | | | | situation I will do this type of reaction to it every |
| I think discipline is not overrated at all.' | | | | time, because I know the probabilities are that it will |
| Mark:'And what I've found is one person might think | | | | work out. Not to say one won't work because one |
| they're undisciplined and another person thinks they're | | | | won't work at some time. Then you have to employ |
| very disciplined and when you compare the two, the | | | | the discipline knowing that you're bad to get out of |
| one that thinks they're undisciplined is more disciplined | | | | the thing. Discipline is a very integral part, but the |
| than the one who thinks they're disciplined. | | | | application and the definition of it is very widespread. |
| Stuart: 'Because their standards are higher.' | | | | Stuart:'We could list another twenty attributes and |
| Mark:'Well what you find with people, Stuart, and I'm | | | | you have mentioned passion before and desire and |
| sure you find this too, a person can be very | | | | focus and patience and confidence and we could |
| disciplined in one environment, in one situation and for | | | | keep rattling them off. But I think, personally, |
| a very finite period of time. Another person is | | | | discipline just stands at the top because discipline is |
| generally more disciplined and maybe for that very | | | | self control and how can you have some of these |
| focused time, the other one is more disciplined. One | | | | other attributes if you don't have some measure of |
| of the best stock market trading tips I can give, is | | | | self control over yourself? I think it all comes from a |
| the importance of being disciplined during the trade. | | | | deep desire within to heighten those attributes and |
| I'm a case of that. I don't consider myself a | | | | become more patient and disciplined. This is one of |
| disciplined person at all in my life. I'm very impulsive, | | | | the great stock market trading tips - be disciplined. |
| I'm an adrenalin junkie. But when I trade every 't' is | | | | |