This is one of my problems in trading. Sometimes, I find myself undisciplined while trading the market. What do you guys do to improve discipline in trading?
Set out step by step recipe for each trade type you take, then practice each until it becomes automatic, like walking.
If I’m making an exception, modifying my strategy, I simply don’t trade and keep practising.
i tried meditating and focusing on my set strategies and of course like @rkk134 lots of practice.
can do it because used to. experience is the best teacher.
I use stop loss and other automatic tools to not let my emotions take control over trading. It’s easy to do that just consult with your broker how they can limit your trading activity per request. Then you will feel much better because being discipline is impossible without trading.
First you must feel confident with the trading system used. In order to be confident, the trading system must be profitable.
DIcipline is a self impose quality , trader can develop inhim by efforts . He can use different tools as well as self control not to be trapped by market conditions he should remain balanced in emotions while trading. Just do what will beneficial in terms of trading not see his wishes because every wish is not possible to become true . Market is equal for everyone he has to find his share according to his talent .
Some useful tips to become a disciplined trader -
You must have a trading plan and should seriously follow it.
Do not over-trade. Trade small, smaller, smallest.
You should match your trading to your lifestyle.
Avoid intraday markets.
Do not focus much on financial news and avoid chat rooms,
Read good books on trading.
Put stop loss to your trading.
Meditation; it quality helps me a lot! I always do meditation before opening my trading chart (at morning).
The basic reasons behind your undisciplined trading life can be your absence of right attitude, lack of proper trading knowledge and lack of experience. Once you are set with proper trading plan it can guide you to complete your trading activities timely and in less risky manners by following discipline and patience.
Meditation & yoga! Especially the 1st one I mean meditation; this practice helps me a lot.
I really need to be consistent practicing. Thanks for this one, tommor.
You mean you’re not trading live and just practicing in your demo account?
I haven’t tried meditating while trading. Googled it and found this article: https://www.financemagnates.com/forex/brokers/the-surprising-benefits-of-meditation-for-trading/
I’ve got to try this one. Thanks for sharing!
Yep, how long have you been trading?
Is this something you do on a live trading account only?
Thanks for sharing these tips! I’ll keep this in mind.
I agree with this one
i have tried meditating myself, really helpful.