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Discipline

The information on this page is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.

Discipline in trading is paramount. All good traders have good discipline.

Have you ever had a large loss which you wish you had managed better? As a follow-on to “Trailing stops / Running profits not losses”, Discipline is another key element to trading. Without it, one’s trading lifetime can be cut short prematurely. Closing loss-making positions early keeps capital intact and leaves one the opportunity to trade something with a better risk/reward, or retry the same trade again at a better entry point. At Accendo Markets you are not buying shares. You are trading CFDs, allowing you to change tack quickly. If a position goes wrong, you can close it and move on. This can mean the difference between big losses and decent profits. As we have said before, many decent profits versus a few small losses makes a profitable CFD trader.

The following 3 points are from Chapter 3 of “Trader Vic – Methods of a Wall Street Master” by Victor Sperandeo. Here he focuses on capital preservation, consistent profitability and pursuit of superior returns. Most lose money by risking too much per trade. Instead of focusing on big winners, he says, 1) protect capital, 2) work towards consistent returns and, 3) use part of profits to increase future risk. Trading is a long game. Big wins will come, but when they do you need to be able to trade to profit from them. After all, you only get one chance to lose everything.

Capital Protection

The author’s first question when taking a position is “what potential loss can I take on this trade”. The second is “what profit can I make”. A risk/reward ratio greater than 1:3 is considered good. Calling every trade correctly is highly unlikely. When a trade comes good, the reward should go some way to helping make up for the inevitable losses incurred elsewhere along the way. The trade should also be let run as far as it can, potentially using a trailing stop to lock in gains along the way.

Consistent Profitability

To gain capital you need to be consistently profitable. To be consistently profitable you have to preserve gains and minimise losses. The risk/reward balance needs to be continually assessed. Exposing oneself to the full value of one’s account on the first trade would be extreme. Putting all one’s eggs in one basket is paramount to gambling, which is not what CFDs are designed for. The aim is to find the best trading opportunity and use CFD leverage to magnify the returns. If a loss is taken, it should be as small as possible, leaving maximum capital for future trading.

Capital Use

One way to protect a £50K account, and prolong trading, could be to limit one’s expose to 20%/£10K per trade. Stops could then be used to limit trade risk to no more than 5%/£500 per trade. This would equate to risking just 1% of total capital per trade. If the trade went awry, and the stop loss triggered, 99% of the account value would remain available for future trading. Each time a trade is won or lost, the calculation would need to be redone based on the remaining capital in order to avoid taking more risk to make up for the loss. If a profit is made, half could then be banked and half used to increase risk on the next position, while using a stop loss would mean only risking a portion of profits while protection all capital and half of prior profits.

Summary

Discipline is tough, especially with trading being so individual and solitary. Pride can thus take over (refusal to admit to a bad trading decision). Nipping it in the bud means being able to continue trading. Sitting on losing positions can result in not being able to do anything about it.

Run the profits not the losses. If you are disciplined with your trading, your capital should last much longer.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
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156 Reviews

George

I have found Accendo staff very helpful,,and informed. I have traded with you for some years now and have no regrets. Keep up the good work!

Posted 1 month ago

Shaun D

since signing up for Accendo I have had two traders, Mark and Sam. I have found both of these to be very informative about how CFD's work and they have made it very easy for me. Since working with Sam (last four months) my trading knowledge has improved and I can make more informative decisions about which Company's to invest with. Keep up the good work Sam.

Posted 4 months ago

Anonymous

I am very happy with the service I get from Accendo Markets and in particular Amrit Panesar. He is very professional and pleasant to speak to and this counts for a lot.

Posted 6 months ago

Shreekant P

Its a good site for dealing stocks worldwide and having good staff.

Posted 7 months ago

Nick W

Krishan Appiah is one of the most dedicated / informative broker I have ever had.

Posted 7 months ago

Thomas I

Since I have been trading with Accendo Markets I have experienced much greater success than has been my experience with other trading companies mainly due to the help given by, what I consider to be my terminal with the trading floor, Mark, who has been most helpful in reminding me of the progress of my positions throughout the day and keeping me in touch with those positions so that I can more easily make successful trades when appropriate instead of missing out on opportunities through lack of attention. He draws my attention to the situations and enables me to make profitable trades. I am very happy with the situation at the moment and am enjoying the experience. Thomas Irving.

Posted 8 months ago

Kartik A

Accendo markets keep me connected with the market and its very well followed by Mr. Krishan Appiah ,which helps me to take certain decision on time.

Posted 8 months ago

Peter p

I have been trading with Accendo Markets and James Abbott my account manager for coming on 5 years now, James Abbott the senior trader of Accendo Markets provides me with up to minute information when I need it and find him very easy and professional to deal with. Whenever I need to trade or am not sure about anything James is always their to help with any queries I may have. The Accendo Platform I find very easy to use and navigate although it has been slightly changed over the years but definitely for the better. Personal when I do trade 90% of the time, I rather telephone call to place my trade dealings and if James is not there to take my call I find others at Accendo like Sam, Lee take my trades and are. All in all everyone at Accendo Markets are amazing to deal with and my relationship with Accendo is just as I like it. Peter Petrou

Posted 1 year ago

Mrs. J

"Our Trader, Aymen Azizi, has been nothing but attentive to our every need throughout our long relationship with him. No issue is too small, full explanations on all our questions."

Posted 1 year ago

Brian R

I have been with Accendo for a long time now, ten or twelve year's, probably more . As I told Sam (my trader) I thought that CFDs were better than sex . I stopped trading for a few years and only started back about a couple of months ago. But it is as if I had never been gone , so to speak. Sam has helped me every step of the way, at my age one forgets things. I have only praise for Accendo and as far as I am concerned the platform is the best . Now I am back trading at 71 years of age, I might even try sex again. Brian Robertson.

Posted 1 year ago

Jim W

I understand how to make a profit with CFDs. I am restricted by the range of companies I have knowledge of. Although, I am not sure that is a big problem. Tom Robertson is a very fine man.

Posted 1 year ago

Rebekah S

Well, I would not be trading without the help of my trader, Sam Alnakkash. He provided a really great overview of Accendo Markets, an insight into trading in general and how to get started in trading online. His advice, support and training has been fantastic all along the way, enabling me to start trading earlier than I would have done had I not had the support. He has also been very adept at understanding me as a client in order to help me achieve my trading goals. I still have a lot to learn and hope I will get there.

Posted 1 year ago

Nick z

I like the updates on shares I trade. Updates from Bloomberg and Reuters plus industry updates and breaking news. I've had Matt Grice and James Abbott and found both to be excellent. I would like to continue a personal service with James. He understands how and which stocks I trade.

Posted 1 year ago

Steve O

Excellent, knowledgable broker interaction and communication, coupled with very good research and analysis.

Posted 1 year ago

William P

Being new to direct trading I needed help and was given all the time and advice that I needed to feel fully able to make decisions on what I wanted to invest in. I asked for and got exactly the type of info I required provided by Tom Cook, who I would recommend to anyone looking for help.

Posted 1 year ago

Mr. W

I have been dealing with accendo for the past 8 years my broker Amrit I find him very helpful when he is there lol and had many offers to change but will not do it Bill Roberts

Posted 1 year ago

Zoran N

Very good all round service! Timely market information. (charts + trends coverage ) On the ball accounts managers ,quickly available and alert . Part of my success owed to my personal manager Mr Sam Springet , than you.

Posted 1 year ago

Mr Brian C

Easy to deal with.....

Posted 1 year ago

Muhammed S

Accendo markets are great for trading cfds and their research is second to none! Aymen manages my account is extremely helpful and always keeps me updated on market info. Thanks again

Posted 1 year ago

Mr Buta B

Always available, whenever I call I get straight through to someone that can and will help. The staff are very knowledgeable, helpful and easy to talk to.

Posted 1 year ago

Stephen B

Aymen Azizi keeps an eye on what is happening in the market and informs me with timely relevancy, email call, and txt.

Posted 1 year ago

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