How to become a disciplined trader?

Beginner Questions Trading Psychology
5

can do it because used to. experience is the best teacher.

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6

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.

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7

First you must feel confident with the trading system used. In order to be confident, the trading system must be profitable.

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8

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 .

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9

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.

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10

Meditation; it quality helps me a lot! I always do meditation before opening my trading chart (at morning).

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11

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.

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12

Meditation & yoga! Especially the 1st one I mean meditation; this practice helps me a lot.

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13

I really need to be consistent practicing. Thanks for this one, tommor.

14

You mean you’re not trading live and just practicing in your demo account?

15

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!

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16

Yep, how long have you been trading?

17

Is this something you do on a live trading account only?

18

Thanks for sharing these tips! I’ll keep this in mind.

19

I agree with this one :sweat:

20

i have tried meditating myself, really helpful.

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21

when trading firstly , we can maintain discipline for a while but when emotion comes it not works as like before , the main problem is controlling emotions when trading.

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22

Exactly.

You’ll lose long term if you make exceptions, @baemax023

23

Question of discipline is common for many traders.I would recommend to you to practice. In the beginning try to stick with your strategy for 5 deals, then increase it to 10, and so on. No matter what happens during this period of trading time, try to stay disciplined for your defined number of deals

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24

Good summary. Practice is the answer.

Discipline for traders suggests they wish emotionally to do something which they know intellectually to be wrong. Sufficient practice for their reaction to become automatic removes the conflict. Nobody needs to use discipline to walk or run or breathe or ride a bike or write - discipline is irrelevant because the task is wholly automatic.

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