i think discipline is built with experience and time. As long as you have a solid plan and do your best to stick to it. You will be fine but it is definitely not easy for beginners to have strict discipline compared to experienced traders.
You will not succeed if you lack discipline. So, if you want consistency, bring discipline not only to your trading but also to your life.
Trading requires discipline that cannot be overlooked.
As a trader, I believe that once a trader has faith in their trading strategy, they must have the self-control to stick with it, despite the unavoidable bad streaks.
To become a disciplined trader, in my opinion, you must learn to control your emotions and have the self-control to stick to your trading strategy.
I believe simulation trading can help you; since you are getting an opportunity here to open tons of trades within very short period of time; thatâs why I prefer back-testing!
This is a very good advise, donât be rash in making your decisions, you canât afford to make mistakes you can avoid in the market.
Being a trader it involves, thoroughly researching the forex markets, particularly the ones you are trading, and developing self-control. You must develop patience and the ability to restrain basic emotional inclinations like greed and fear if you want to retain discipline.
When you trade, you require consistency and discipline. When you stay consistent by pushing yourself a little more daily, you will become a disciplined trader in that way. Discipline does come with time, but it is possible only when you stay consistent.
Nowadays the situation is like when you seek advice from others, traders of different types and classes will give you different pieces of advice. So, you have to be selective about picking up an advice. Study the market more and more to take a conception about the market because it is congenial.
Use a notebook & write-down your mistakes on there; it will help you next time for you! Actually, donât expect too much improvement within very short period of time!
You need to keep trying to work on the process, spend time analysing the market so it gets easier to focus on the plan youâre executing. Practice on a demo account for a few months, make notes and learn market psychology. Then, switch to live trading and allow your experience to teach you. Best of luck.
Use a notebook to write-down your own trading mistakes, on the other hand, donât try to overcome your mistakes within short-period of time!
Discipline will come naturally as a result of the maintenance of the right attitude and interest in forex trading. When you remain consistent, you will gradually develop a habit of trading. That will develop discipline in trading. Discipline in trading is all about consistency first. If you stay consistent, you will develop discipline. A disciplined approach to forex is the key to success.
Keep two trading journals: one digital where you may record the results of each trade, and one hard copy where you can record your objectives and evaluate your weekly performance. Setting and achieving both short-term and long-term goals might aid you in developing greater discipline. Itâs crucial to trade while youâre at your most awake during the day. Being calm and certain will also be beneficial in the way of improving discipline.
A set routine helps a lot
Setting and achieving both short-term and long-term goals when trading can benefit in developing proper discipline. Itâs crucial to trade while youâre patient and confident during the day.
I couldnât agree more, you just have to work on your patience at all cost, else there will be problems.
I recommend a book, âTrading in the Zone.â
Yes, I have read it.Very insightful.
Just follow your trading plan strictly but also have a flexible approach towards your trading strategy. Make amendments if required. After all, we need to survive in the volatility of the market.