One of the #1 mistakes traders make is this: they have a plan/method but instead of sticking with it, they let their emotions get the best of them and start making exceptions during a trade.

“This time, I’ll put a higher % of my capital at risk, just this time!”

“Ok, I’ll make this *one* exception.”

How many of you are guilty of the same thing as domainers?

Probably all of us 🙂

Here’s the thing: having a wishy washy “I feel like breaking the rules” attitude is often tempting, especially if you let emotions rather than reason take over. Maybe greed gets the best of you, maybe the desperate desire to break even during a certain situation where things went wrong and so on.

But such attitudes illustrate a lack of discipline that can cost you.

I’m not saying you should blindly follow the same strategy forever.

No.

Tweak it, make changes whenever necessary but don’t do it when under the influence of emotions such as the ones I mentioned.

Being flexible is great, learning from mistakes is great, making changes as well but only if you do all of these things for rational as opposed to emotional reasons.

By having the discipline to implement, tweak and follow a plan, you’re proving to yourself that you’re in it for the long haul. That you want to become better and better as a domainer, investor, trader or whatever.

Having a domaining plan is very important in my opinion and ultimately, it all boils down to discipline and hard work.

Take a look at the most successful domainers, investors, business owners or whatever and you will notice a pattern 🙂