The most important ingredient in achieving success in trading is discipline. It is something you must adhere to at all time if you ever hope to achieve any level of trading success. Trading discipline must be practiced 100 percent of the time, every trade, every day. Omitting this rule will always eventually result in painful losses.

A profitable trader condition himself to trade with discipline over and over again. The success of a trader achieving consistent profit in the markets is directly related to his discipline. Trading is 90 percent discipline. The formula is relatively simple, trade with discipline and you will succeed; trade without, you fail. A trader with discipline will put more money in his pocket then the one without. In short, trading with discipline equals to increased profits.

If you are in a losing streak, you should stop and take a break to review your trading discipline and have them followed in your next trade and size it down to a one contract no matter how big it is that you been regularly traded. The psychology reason is that you follow through with discipline to build back your trading confidence before betting big.

I always start my trade size with a one contract. If my next one or two days are profitable, then I ‘ll add more contracts to my original trade. This way I am certain that I am on the correct flow order of the trade before adding more.

When I make money from my trades, I am rewarded by the market moving in the direction of my position, however when I am not satisfied with a small winner, I usually take whatever available and continue to trade in the same direction by simply rolling my option positions. Rolling your option trades reduce you risk at the same time taking your profits.

Many times when you hang onto the trade with hopes of a larger gain, only to watch the market turn and move against you. When this happens, you’ll hesitate to cut your losses and hang onto the trade which will eventually deteriorates further into a much bigger loss.

Theres no need for you to be greedy. Its only one trade. You’ll be able to make many more trades every trading sessions and many more throughout your trading endeavor. Opportunity exists in the markets all of the time. Don’t be greedy, be discipline instead.

“Life has no other discipline to impose, if we would but realize it, than to accept life unquestioningly. Everything we shut our eyes to, everything we run away from, everything we deny, denigrate, or despise, serves to defeat us in the end. What seems nasty, painful, evil, can become a source of beauty, joy, and strength, if faced with an open mind. Every moment is a golden one for him who has the vision to recognize it as such.” - Henry Miller

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