ROLE OF DISCIPLINE IN TRADING
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Thread: ROLE OF DISCIPLINE IN TRADING

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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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    this is what i have being looking for in the forex trading. i still do some thing that are out of control, but with threads like this, traders can make some meaningful change in their trading, so that it will not cause them to be losing their money in this forex business, and patience should come along with this.

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    The discipline of traders are really the best part to which every trader can make their success with ease. And the first thing to do before this is to make sure you are doing the trading in the right ways of analysis, if the analysis is good, then you could later add discipline to this, and it will help your trading earnings.

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    Trader techboy's Avatar
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    Quote Originally Posted by cozard007 View Post
    The discipline of traders are really the best part to which every trader can make their success with ease. And the first thing to do before this is to make sure you are doing the trading in the right ways of analysis, if the analysis is good, then you could later add discipline to this, and it will help your trading earnings.
    Discipline must come first in our trading, traders must exercise discipline at the very start of trading so that even if we have bad strategy we can still minimize our losing trades, but most of the time traders dont have proper recognition the importance of discipline and just go straight to real trading thinking that they can easily make money in the market.

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

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    Quote Originally Posted by silverlady View Post
    this is what i have being looking for in the forex trading. i still do some thing that are out of control, but with threads like this, traders can make some meaningful change in their trading, so that it will not cause them to be losing their money in this forex business, and patience should come along with this.
    It is not you alone, many traders are doing this and wish to control themselves, and this is what the discipline of traders are for, that can help the trader to fulfill their real decisions and experience of trading, and this discipline will fight the emotion and anxiety spirit that might be affecting what the trader can be doing, this is serious and it is important.

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    Quote Originally Posted by Sylvertee View Post
    It is not you alone, many traders are doing this and wish to control themselves, and this is what the discipline of traders are for, that can help the trader to fulfill their real decisions and experience of trading, and this discipline will fight the emotion and anxiety spirit that might be affecting what the trader can be doing, this is serious and it is important.
    Well, no one is a saint in the market trading, we all have the past and experience of traders will have to do with what the trader really know. You can simple try to do what is right by controlling yourself at the best, this is what will help you to again the success you ever needed in the market in the best approach.

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    Trader techboy's Avatar
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    Quote Originally Posted by cozard007 View Post
    Well, no one is a saint in the market trading, we all have the past and experience of traders will have to do with what the trader really know. You can simple try to do what is right by controlling yourself at the best, this is what will help you to again the success you ever needed in the market in the best approach.
    At the start traders struggle a lot in controlling their emotions especially if we are just self taught, but if we are determined to learn the in and out about trading then we can learn from our mistakes and we can progress as a good trader, we need to be serious and dedicated in our learning.

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

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    Quote Originally Posted by techboy View Post
    At the start traders struggle a lot in controlling their emotions especially if we are just self taught, but if we are determined to learn the in and out about trading then we can learn from our mistakes and we can progress as a good trader, we need to be serious and dedicated in our learning.
    it is all traders who are struggling with their emotion, and this is normal because we are doing the things of the business in the forex market. we have to trade with the risk and make the money in the good way which will help us to make the good part in our trading.

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    Quote Originally Posted by techboy View Post
    At the start traders struggle a lot in controlling their emotions especially if we are just self taught, but if we are determined to learn the in and out about trading then we can learn from our mistakes and we can progress as a good trader, we need to be serious and dedicated in our learning.
    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.

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    [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]

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