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Thread: ROLE OF DISCIPLINE IN TRADING

  1. #1
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    ROLE OF DISCIPLINE IN TRADING

    If i was asked when i started the trading of forex, i will say the knowing of the trend of the market is the only thing needed by traders, but the truth is that, we need more than that to make success out of forex trading. And many of the things that are affecting traders to make success is emotion, and the only cure to this is the discipline of the trader. Discipline is a virtue on its own, it remolds, rebuilds and put in shape the trader at all time, and this will not let traders to trade in a way that is not fit for a qualifying trader. This shows they will be trading within the scope of their trading system, and do not give room for emotional trauma to affect them while they trade what they know.

    Criterias to be disciplined; You can not just believe you will be disciplined, and you will actually be disciplined, you will be disciplined on purpose, and you will have the determination to overcome the side attractions that might affect the discipline.

    1. You have to have faith in your trading system
    2. You must trade with the amount that can not build your emotion
    3. You must have the determination that, you will either do what your trading plans say or do nothing in the market.

    If all these three criterias could be obeyed, i am sure that you will not have issue with discipline. And before the number one point could be achieved, i believe that the traders would have got the good trading system which they have believe over. And by good trading system, i mean the system that can give traders the winning of about 70% consistently, that will build the moral of the trader forver.

    Please share your view on this account too...

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  2. #11
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    Quote Originally Posted by cozard007 View Post
    Well, it is not a news anymore, traders will surely struggle with emotion, and it is not only losing traders or the new traders, the old traders and even the professional/successful traders are still struggling with emotion at certain point of their trading career. That is why the traders will need discipline, that is the only solution to this.
    it is not news any more in my thinking too, you have to be working with the discipline to fight the emotion you can be having and this is not going to go without helping the trader after all, and the working of traders will have to be sure on what they know.

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    Quote Originally Posted by silverlady View Post
    it is not news any more in my thinking too, you have to be working with the discipline to fight the emotion you can be having and this is not going to go without helping the trader after all, and the working of traders will have to be sure on what they know.
    Discipline is every where, and the real traders of this market should make sure they have it all. You have to be sure of the way you trade, and never let anything change you from its trading doings, that is the way you will really have the fullest you ever wanted in the market, and you have to be strict.

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  4. #13
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    Quote Originally Posted by cozard007 View Post
    Discipline is every where, and the real traders of this market should make sure they have it all. You have to be sure of the way you trade, and never let anything change you from its trading doings, that is the way you will really have the fullest you ever wanted in the market, and you have to be strict.
    Right, traders must be very strict in following their trading strategy, otherwise we may not become a profitable trader as we wanted and even will suffer huge loses, making mistakes in trading is common to newbies that is why they lost their account in a matter of weeks in trading, but there are also veteran traders that still cannot be discipline because they are bothered by their emotions all the time.

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    " Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "

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    Quote Originally Posted by samprazaan View Post
    [lang=id]we knew that discipline is the best foundation for us to stand in the market for trading forex, that will give us much advantages to work and get the best performance to manage the risk, traders with good discipline will get the right way at forex trading and the market pay them for the right thing[/lang]
    I suppose the good traders in this market has the portrait of the good ways they are trading, and without the discipline, there is nothing to be done. There might be a trader with the best trading strategy which can ever be used to make money, but when they are utilizing that strategy without discipline, it is the bad side they will always get is what they do.

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  6. #15
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    Quote Originally Posted by Sylvertee View Post
    I suppose the good traders in this market has the portrait of the good ways they are trading, and without the discipline, there is nothing to be done. There might be a trader with the best trading strategy which can ever be used to make money, but when they are utilizing that strategy without discipline, it is the bad side they will always get is what they do.
    [lang=id]do trading without good discipline will not give them a right thing place in the market, they can not keep stable the position in the market, sometimes they can make earning and sometimes face big losing and repeat it, that is not good situation and if they can not fix them with well[/lang]

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    Quote Originally Posted by samprazaan View Post
    [lang=id]do trading without good discipline will not give them a right thing place in the market, they can not keep stable the position in the market, sometimes they can make earning and sometimes face big losing and repeat it, that is not good situation and if they can not fix them with well[/lang]
    It is not a good thing to even think of that, discipline rules the right ways to trade the market, and when the trader is disciplined, they would have the best in what they are doing at all time. We can have the best in the way we are working, using our skills and making everything work for us in this market as well.

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  8. #17
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    Experience teaches us how to be disciplined and therefore is the key of success and with out it no body can success in his practical life and with out experience you can not run in any field of life so dear experience in any field is a plus point of the trader so that he can earn more more my dear.

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  9. #18
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    Quote Originally Posted by cozard007 View Post
    It is not a good thing to even think of that, discipline rules the right ways to trade the market, and when the trader is disciplined, they would have the best in what they are doing at all time. We can have the best in the way we are working, using our skills and making everything work for us in this market as well.
    Right, if we are discipline and we have the right and effective trading strategy we can survive and profitable in this market, but it is easier said than done to most traders that is why they we struggle a lot at the start in our trading especially if we dont have proper learning at the start, we learn trading at the start with the mindset of making money right away.

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    " Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "

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    You know we have good trading strategy and rules, therefore we need to have the ability to keep to that rule, therefore being disciplined is the way to have the right ability to keep to those needed rules, if we would want to become successful, then we should not start getting it into our head that discipline is the most thing that it takes.

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  11. #20
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    Quote Originally Posted by splash View Post
    You know we have good trading strategy and rules, therefore we need to have the ability to keep to that rule, therefore being disciplined is the way to have the right ability to keep to those needed rules, if we would want to become successful, then we should not start getting it into our head that discipline is the most thing that it takes.
    [lang=id]if we have good trading strategies and rules in there, it will become a great thing for traders and if only we can support them with good discipline also patience, that will lead us to reach the goals and get success in the market and if only we can keep it stable for all the time, remember, discipline is a must or without discipline then everything become nothing[/lang]

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