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Thread: How to enhance patient and discipline

  1. #1
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    How to enhance patient and discipline

    Other business needs that we work hard and work daily in other to be successful.

    Quite unfortunately we don't need to apply that method in forex trading, believe me, those that did made loss and quit trading, thinking that forex is a course.

    Come to think of it, when reading and learning from some well known good traders, they emphasize on the use of longer time frame which needs so much patient to benefit more. Trader like NIAL FULLER who we all know about his site makes use of the daily time frame in trading.

    From my experience here are key points one should have in mind to enhance patient and discipline.

    1. Making profits does not necessary mean that you should have so many opened trades. That way, refrain from over trading. Then patiently wait for a trade pattern to form, of course we all have our trading method, so wait for a good entry point.

    2. Know that the market moves like wave(fluctuates). In as much as you have made use of good risk management by using your stoploss, close your trading terminal and come back later the next day(if you are trading daily time frame) Always wanting to watch your trades could lead to wrong decision.

    3. When you have missed a trading opportunity(good entry point) always bear in mind that more will still come so don't go against your discipline to enter when it is late.

    GOOD LUCK WITH YOUR TRADE>

    THANKS.

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  2. #181
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    well all trader have their own stretchy for patience and discipline how ever i will tell you how i maintain mu discipline and patience i am part time trader so i usually analysis at the morning and i take take with profit tp and sl and never open mt4 for the whole day and at night i see mt4 by that i maintain my patience and dicipline :)

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  3. #182
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    well if you want to maintain discipline so alway think about loss before trade that will convert your to use money management and for the patience use tp and sl and avoid to open mt4 again and again that will maintain patience for your trade how ever analysis should be perfect :)

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  4. #183
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    indeed we ought not look to exchange more in the market but rather try to just exchange the exchanges that have the most noteworthy plausibility of influencing benefits for us as I to have come to realize that forex benefits don't rely upon the amount we exchange yet on how best we exchange

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  5. #184
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    A trader may have many kinds of trading plans. But a foreign currency exchange trader can’t trade accordingly as per his trading planning sometimes due to lack of patience and discipline. An immature trader can’t even able to carry out his trading activities as he may not hold patience or wait. A forex trader will need to practice trading and try to acquire trading knowledge so that he can try to deal with the market situations.

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  6. #185
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    Quote Originally Posted by Abraham Chrils View Post
    A trader may have many kinds of trading plans. But a foreign currency exchange trader can’t trade accordingly as per his trading planning sometimes due to lack of patience and discipline. An immature trader can’t even able to carry out his trading activities as he may not hold patience or wait. A forex trader will need to practice trading and try to acquire trading knowledge so that he can try to deal with the market situations.
    personally i think the only way we can enhance our knowledge about trading is for the trader to learn and understand how to handle the risk in trading,forex is risk based business and not till we have a good understand how to analyzed and manage what ever amount we might invest in forex business to make money as a trader might be hard.

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  7. #186
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    Quote Originally Posted by sharegistFX View Post
    Other business needs that we work hard and work daily in other to be successful.

    Quite unfortunately we don't need to apply that method in forex trading, believe me, those that did made loss and quit trading, thinking that forex is a course.

    Come to think of it, when reading and learning from some well known good traders, they emphasize on the use of longer time frame which needs so much patient to benefit more. Trader like NIAL FULLER who we all know about his site makes use of the daily time frame in trading.

    From my experience here are key points one should have in mind to enhance patient and discipline.

    1. Making profits does not necessary mean that you should have so many opened trades. That way, refrain from over trading. Then patiently wait for a trade pattern to form, of course we all have our trading method, so wait for a good entry point.

    2. Know that the market moves like wave(fluctuates). In as much as you have made use of good risk management by using your stoploss, close your trading terminal and come back later the next day(if you are trading daily time frame) Always wanting to watch your trades could lead to wrong decision.

    3. When you have missed a trading opportunity(good entry point) always bear in mind that more will still come so don't go against your discipline to enter when it is late.

    GOOD LUCK WITH YOUR TRADE>

    THANKS.
    The key thing is being in check of your emotions.... any interested reader please read this

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  8. #187
    Trader maryrosi's Avatar
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    Quote Originally Posted by Abraham Chrils View Post
    A trader may have many kinds of trading plans. But a foreign currency exchange trader can’t trade accordingly as per his trading planning sometimes due to lack of patience and discipline. An immature trader can’t even able to carry out his trading activities as he may not hold patience or wait. A forex trader will need to practice trading and try to acquire trading knowledge so that he can try to deal with the market situations.
    indeed, to be patient and discipline in trading is very difficult, but we have to practice continuously to do patience and discipline, because patience and discipline in trading has a very important role, many benefits that we can get if we trade patiently and discipline, we can profit consistently, far from marging calls and others.

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  9. #188
    Trader nadezhda84's Avatar
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    Quote Originally Posted by ara View Post
    Strongly agree, while many traders create threads about work hard in forex business, that is nonsense, that is very wrong. We do not need to spend a lot of time and energy to make profits consistently in forex trading, I do forex trading as part time business besides my main job for several years, it makes me relax and do not get much pressure in trade, now I have resign from my main job, but that does not mean I will spend my full time in forex trading all days, I just open the chart three to five times a day. That is enough.
    You made my day))

    If one wants to gamble, create a demo account, in which you gamble and lose as much money as you can. In turn, maintain a real account that you visit a couple of times per trading day to make real money. It is bad to look at the rate charts during all day long, one will inevitably initiate too many trades (the overtrading problem).

    Actually, I do spend some time for forex to read analytical reviews and analyze big trends in the markets to place limit orders for long-term waiting for the best price to buy.

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  10. #189
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    it important to understand the strategy used while trading forex because this is the only way we can survive the pressure of trading the market,if we understand our pattern of trading we are gonna understand the important and how to manage our emotion with the market and attitude toward trading the market.

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  11. #190
    Trader xauyuro's Avatar
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    Quote Originally Posted by sharegistFX View Post
    Other business needs that we work hard and work daily in other to be successful.

    Quite unfortunately we don't need to apply that method in forex trading, believe me, those that did made loss and quit trading, thinking that forex is a course.

    Come to think of it, when reading and learning from some well known good traders, they emphasize on the use of longer time frame which needs so much patient to benefit more. Trader like NIAL FULLER who we all know about his site makes use of the daily time frame in trading.

    From my experience here are key points one should have in mind to enhance patient and discipline.

    1. Making profits does not necessary mean that you should have so many opened trades. That way, refrain from over trading. Then patiently wait for a trade pattern to form, of course we all have our trading method, so wait for a good entry point.

    2. Know that the market moves like wave(fluctuates). In as much as you have made use of good risk management by using your stoploss, close your trading terminal and come back later the next day(if you are trading daily time frame) Always wanting to watch your trades could lead to wrong decision.

    3. When you have missed a trading opportunity(good entry point) always bear in mind that more will still come so don't go against your discipline to enter when it is late.

    GOOD LUCK WITH YOUR TRADE>

    THANKS.

    patience and discipline is one of the keys to success in trading.
    if you cannot be patient and discipline then the danger will lurk you.
    just like when you open a chart, then you see the market is slow, even sideways. So in these conditions don't force yourself to enter the market. because the price is not clear where to move. if you push yourself, this is tantamount to gambling, if the price rises then it is in accordance with the direction of your open order, but if the price drops then you will lose.
    if you have or learn a trading strategy, this strategy must have rules or rules for taking open trades. then obey the rules. this is included in your discipline in trading.

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