How to enhance patient and discipline
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  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. #2
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    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.
    I see no wrong doing when we have so many positions opened, because we could be good at making analysis and that could increase our chances of making more and more profits.

    However, you have made a good point and to add more to that, I will ask that the little time frame should be ignored because yes, we can make money trading it but not constant income can be made from them.

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    You know each trader is different so as their mindset and planning. You simply can't keep away from trading if you are a scalper. But surely long term trader or swing trader will wait for days. I am scalper I love to trade with the waves formed by a pair. So far I found the best way to get success is to follow higher time frame and follow the trend keeping in mind that you may lose your money so better use the SL. If you are a day trader or swing trader then avoid looking at the market all the time to stay calm. No matter what type of trader you are just follow your trading rules to get success.

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  4. #4
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    Well, all things in the market would still be linked to the discipline of the trader, even the adoption like managements you made mention. It is very good to know how to conduct oneself in the forex trading, because lots of things would occur which would want the trader to shift away from the good trading psychology they are working with. This is where the discipline of the trader comes in, and I believe that disciplined would only work with strong determination of the trader. Also, when the trader is well disciplined, I know that patience would follow naturally.

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    Quote Originally Posted by sharegistFX View Post
    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.
    exactly... we should all keep this in our minds that if something goes bad then definitely something good will always happen .. we should never give up nd we should focus on trading nd we should all do hardwork here.. :)

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    Quote Originally Posted by Talhazz View Post
    exactly... we should all keep this in our minds that if something goes bad then definitely something good will always happen .. we should never give up nd we should focus on trading nd we should all do hardwork here.. :)
    The market is full of good trading opportunities, that I have been able to see in the market, so you see there is no need trying to go against our trading discipline. Also when I was new in trading I think the opportunity comes but once applies to forex but I was so wrong, it does not, opportunity comes over and over again.

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    Trader lawners1791's Avatar
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    Quote Originally Posted by sharegistFX View Post
    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.
    those had with the decision as trader to prepare of sets with the rules on strategy to run of details with the customs of arrange on referring actions to gives of the further extents on competing with the good challenge to close of the numbers of target to manage with the terms of length with the trading plan.

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  8. #8
    Trader kagho's Avatar
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    yes we should not seek to trade more in the market but instead seek to only trade the trades that have the highest possibility of making profits for us as i have come to know that forex profits dont depend on how much we trade but on how best we trade

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  9. #9
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    Quote Originally Posted by cozard007 View Post
    Well, all things in the market would still be linked to the discipline
    You are right about that all is still be linked to a trader being disciplined. And discipline in this context means knowing that which works for us and the continuously use of it. That goes to say that just one word is the solution to all problems which so many traders have been facing. DISCIPLINE..

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  10. #10
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    Quote Originally Posted by sharegistFX View Post
    You are right about that all is still be linked to a trader being disciplined. And discipline in this context means knowing that which works for us and the continuously use of it. That goes to say that just one word is the solution to all problems which so many traders have been facing. DISCIPLINE..
    Well, the discipline is a very good thing, and as I have said, it is linked to everything the traders are doing. But it can not be used in the way you have explained it, the discipline can not do everything for the trader, because there are lot of things that amount to the success of traders, and the discipline is just the part of it and it is the psychology issue. I emphasized on disciplined on my last post since it is needed in the trading system, the management, the plan and even the psychology of the trader.

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