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Develop Trading Discipline

This forum is for new and aspiring Forex traders. Trading can be very risky but can also bring great rewards. No one starts with continuous success but many continue with the success. It's a continuous learning, unlearning and learning again. Ask your questions, share your frustrations and also smiles of success. The objective is to have more and more smiles. Hoping to have the pros to frequent this playground to coach the new team here.
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Re: Develop Trading Discipline

Postby Monir molla » Wed Jan 28, 2015 8:34 am

In reality, accurate trading skill always cannot bring profit in Forex. Besides for surviving in difficulty, you must follow some foremost discipline which will help you to fight the market. Maximum trader are failed due to not following the discipline as like money management, risk management , time management etc. so all we should go behind these for bring profit.
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Re: Develop Trading Discipline

Postby Habib Wahid » Sat Jan 31, 2015 4:12 pm

My demo trading experience always hives me right direction of trading. Because, I learned my trading from ‘Free Educational support’ of ExoFX trading broker. On the other hand, I can trade only fixed 2 pips trading spreads in any Forex currency. So, get a exact knowledge about my profit that makes me more discipline Forex trader. I never open so many trade in a same position.
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Re: Develop Trading Discipline

Postby forex_abode » Wed Feb 04, 2015 7:57 pm

The psychological aspect of trading is extremely important, and the reason for that is fairly simple: A trader is often darting in and out of stocks on short notice, and is forced to make quick decisions. To accomplish this, they need a certain presence of mind. They also, by extension, need discipline, so that they stick with previously established trading plans and know when to book profits and losses. Emotions simply can't get in the way.
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Re: Develop Trading Discipline

Postby Himanshurathee » Fri Feb 06, 2015 10:38 pm

Simply put, self-discipline involves the development of a mental framework which enables you to stay motivated and focused amidst conflicts and mistakes.Developing discipline is difficult, but it is a necessary and important trait for any trader whose goal is to someday become consistently profitable.
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Re: Develop Trading Discipline

Postby Charles Baksh » Wed May 06, 2015 12:46 am

In my view developing discipline is not easy because we need good knowledge and experience, so without that we will always struggle to maintain discipline. One more problem without been discipline is that we can get greedy extremely quickly, so that’s why we need to develop this habit first, I work with Nova FX broker, it has perfect education system and that helps me greatly to learn these things and I am able to work very well without any stressful at all.
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Re: Develop Trading Discipline

Postby matttrader » Wed May 06, 2015 9:41 am

It's impossible to trade without trading discipline otherwise your trading will turn to gambling. I try to stick to MM developed using demo trading with Hotforex and not exceed risk of 2% per trade. But sometimes news trading force me to change trading setup and take more risk.
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Re: Develop Trading Discipline

Postby Sininfinity » Fri Jun 19, 2015 2:56 pm

Agree with charles baksh. We are human beings and it is natural for us to get greedy very easily when we see there is a potential. That is why we must develop a good trading plan and follow it. It will bring profit in the long run.
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Re: Develop Trading Discipline

Postby Kikizyak » Sat Jun 20, 2015 7:42 am

The main problem is to stop yourself when you see that you're losing or even when you are getting profit. Just follow your plan and have clear goals.
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Re: Develop Trading Discipline

Postby Habib Wahid » Tue Jun 23, 2015 12:32 pm

In spite of having most accurate trading knowledge , it is not possible to make profit constancy , if you do not have the accurate trading discipline that is very much supportive to keep survive in this trading place for a long time. My trading platform GCI is very much supportive to make proper trading discipline by providing many trading facilities.
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Re: Develop Trading Discipline

Postby Joy Bahadur » Tue Jun 23, 2015 12:40 pm

I think, to become a discipline Forex trader, we need enough trading knowledge and space as well. In my live trading, 100% welcome bonus with big trading leverage facility from TradingBanks broker is the best combination for me in my real account. So, now small trading balance is well enough to make healthy profit.
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