A trading plan is a key to discipline trading. Rest follow your gut and avoid the noise.
It takes time. Be ready to accept the defeat or losses and not making the scene out of every negative amount you received.
Patience is a massive key thing to learn on these markets. Find the right set up and stick to it. Have a trading plan and journal your trades, why you took it and your reasons behind it at the end of each trading day.
Ask your broker to limit max drawdown on your account, heard some brokers offer this feature. Know personally some guys who canât control themselves despite of having detailed trading plans, strict rules for entry and exit.
Thats the best advice. Patience,discipline and a good risk management strategy is all you need if you want to be successful.
100% correct!!
What I do is narrow down all the possible effects of trading without discipline and my mind changes completely. I certainly do not want to undergo any unnecessary loses that I could have just avoided if I had traded wisely. I have to take things the right way. That is how I roll and you should too.
Develop a strong trading plan.
Maintain trading journal.
Avoid revenge trading.
Donât feel sorry for yourself and stick to strategy, thatâs the secretâŚ
You can develop your discipline and confidence with more practice with demo trading and when you feel that now you have confidence then it is the time to trade live.
Discipline depends largely on your mood and whether youâre tired or cheerful. You should always come to the market full of energy, then there is no desire to rush and do stupid things.
Everything comes with experience, though mistakes happen even for the most profitable and disciplinedâŚ
Make a concrete, step-by-step action plan that you can put into practice. If youâre gonna notice that your emotions are getting in the way, just pause. Take your time, rush wonât help!
Everything comes with experience, sometimes you just have to make a few mistakes to understand how to act and how not to act. This is a cruel realityâŚ
Just trying to plan your actions in the market and try to stick to this plan, it is certainly not easy, but quite real, the main thing is not to make a fuss and try to act consistently, only it can help in my opinion.
only you know the answers ,stick with your ambitions to become
a successful trader,though stand back reflect why you going wrong, have other goals and new activities in your life also .Keep focused but sometime s too much effort not good
lol you could have spent on alcohol and drugs ruined your health too
Simple if you lose too much money. then, your consciousness is getting stronger and tougher and I myself am
nice topic , discipline trader is not a deal that can be done within very short time , its world best human attitude and habit that grows by passing a long time with regular practice. in Forex trading discipline trader means professional trader who passed a long time already in there.
You have to be aware of your trading. Trial and error is going to be the best teacher if you are new to trading. The first thing is to find something that works for you and stop changing strategies if you are currently doing that.
One thing I like about my broker is the trading analysis that done for you. Helps keep track of your overall progress. Once you see the numbers you will see why and learn more.