That’s okay. Everybody is.
Every trader wants to be a good and disciplined trader. If you can manage your time properly and do trade according to your plan you can become successful trader easily.
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Be calm and meditate for some time. You’ll soon be back on track.
What’s the name of this app that you are using to track your trades, please?
- Stick to Your Discipline.
- Lose the Crowd.
- Engage Your Trading Plan.
- Don’t Cut Corners.
- Avoid the Obvious.
- Don’t Break Your Rules.
- Avoid Market Gurus.
- Use Your Intuition.
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discipline in trading life really a important matter , because with no trading discipline the result of trading can be useless despite of good market knowledge , this discipline we the traders just have to carry for a long time , otherwise it will not works
Exercising and sports (other than chess :)) help to be disciplined.
I think it’s a good idea to try and be disciplined about all aspects of one’s life, that way it just becomes a habit you apply to trading too.
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Oanda (broker), provides this analysis.
Being a disciplined trader is a difficult game in live trading; it is more appropriate to be disciplined in demo trading. Discipline is, in my opinion, the most important and positive habit in a human being.
You need perseverance, practice, a good trading strategy, and a trading schedule to be a disciplined trader. Given how risky forex is, be prepared for any bad news in advance. Last but not least, consistency is the hallmark of all disciplined trading activities.
The secret to disciplined trading is a trading plan. Rest, listen to your gut, and stay away from the noise.
Some helpful pointers to develop your trading discipline -
- You must have a trading strategy, and you must adhere to it religiously.
- Limit your trading. Smaller, smaller, smallest trade.
- You ought to adjust your trading to fit your way of life.
- Avoid trading intraday.
[quote=“Fugy, post:113, topic:212400”]
Avoid trading intraday
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Been a daytrader doesn’t mean you have to automatically day trade every single day ,your still as selective and patience waiting for set ups .
Why been a day trader you have a tendency to lack more discipline
To be successful it’s probably the opposite
Point 3 is a good.point but 4 contradict s it
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Improving my discipline in life seemed to help in trading as well. I started being more strict on things like drinking soft drinks or eating junk food late at night, exercising, making myself go to bed by a certain time instead of scrolling mindlessly on my phone, etc. All of this made me think more about what I was doing, and then I was more strict on myself when it came to trading as well.
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Yes general health and metal well-being/trading performance probably interlinked
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Correct. How you do one thing in life is how you do everything. You cannot have sloppy habits outside of trading and hope your trading is not going to be sloppy.
Fact is (and very few people understand this) but if you sort yourself out first then your trading will sort itself out too.
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I totally agree with you!!
I would suggest you read some books that can help you out. ‘Trading in the zone’ and ‘The disciplined trader’. Both are written by Mark Douglas who is renowned for his works on the topic of trading psychology. These books have helped me a lot to develop discipline and confidence as a trader. Of course it won’t happen overnight as you will have to work your way towards it. But feeding your brain with the knowledge in such books can surely help a lot.
In order to be disciplined, treat trading as a business. Set reasonable trading goals and follow your trading plan consistently. Review your trades and performance. Make trading rules and keep them visible at all times. Have a trading strategy to follow. Maintain a trading journal and record your performance there. Take breaks whenever necessary. Make sure the place you trade has no distractions. Many inexperienced traders lose money due to inadequate risk management and a lack of trading discipline. To keep the discipline, you must have excellent self-control. Self control is like a muscle; you can train it.