2. Commit to only making changes when market is closed and

3. Go over your plan every morning before you trade.

The best way to enforce discipline is just by awareness. Keep records of your trades. On every trade, include an answer to simple question, "Was this trade part of my trading plan?". Yes or no. There is no in-between!

Be aware that undisciplined traders are almost guaranteed failures.

Ask yourself if you are keeping discipline, or are you just taking random trades that look good at moment?

You can't fix something if you do not know it is broken.

You must first be aware that you have a discipline problem!

If you do have discipline problem, there is an absolute answer for you!

The answer is this:

JUST DISCIPLINE YOURSELF... There is no alternative!

Copyright © 2005 I.E.C. Haramis

haramis@greekshares.com http://www.greekshares.com

3. Now subtract a profit that makes it all worth effort. This gives you highest price you can pay for house. Walk away if you can't get it for this price or less. Offer several thousand less, of course, to give yourself negotiating room.

An Example:

You find a fixer-upper, and determine you can get $98,000 for it when it's done. The expenses of buying will be $2,000. You get repair estimates of $8,000. Carrying costs will be $2,500. The sales commission will be $6,500. Other closing costs will be around $1,500. You figure $1,500 for "unexpected" costs. Finally, you want $10,000 for your effort.

Subtracting all of that from your expected sales price leaves $66,000. This is most you can pay, if you want a safe real estate investment. You offer $61,000, and walk away if you and seller can't settle on something under $66,000.

Always start at end (the eventual sales price) and work your way back. This is right way to safely invest in fixer-uppers.