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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 Tower » Wed Jun 24, 2015 5:15 am

Discipline in trading is very important, its importance is even more than having a strategy because even if you have a good strategy and you are not following discipline, your strategy will be useless.
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Re: Develop Trading Discipline

Postby Sininfinity » Wed Jun 24, 2015 5:29 am

Actually one compliments other. It is not like which one is more important. A trader needs both a good strategy and be disciplined with it. If a trader does not have one then it is incomplete.
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Re: Develop Trading Discipline

Postby Husam » Fri Jun 26, 2015 8:50 am

Thank you very much for this important thread. Basically, maximum new traders are not acquiring about trading discipline. They only want to make big profit without any logic. Definitely, I believe your post will make a sense about trading discipline. En passant, I think to be a discipline trader, first of all we need clear concept of trading. In addition, 2nd point will be our trading space. Because, if we make our trading much complicated then definitely, we will be unable to control ourselves. According to this matter, I am very lucky that I find more space from ECN broker TradingBanks. That’s way, I open my trade with my best effort.
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Re: Develop Trading Discipline

Postby Joy Bahadur » Mon Jun 29, 2015 8:09 am

Practically, despite of having accurate trading knowledge, it is not possible to make profit constancy, if you do not have the proper trading discipline that is very much supportive to keep survive in this volatile trading place. In my trading career, I at all times try to maintain my trading discipline for staying this trading place for a long time. As like, even though, I am getting 1:400 leverage fro my trading platform MxTrade but, for avoiding risk, I at all times use just 1:100. So, my trading life is very much comfort and flexible.
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Re: Develop Trading Discipline

Postby Tower » Wed Jul 08, 2015 6:12 am

Trading discipline is very important for any trader that wishes to make money from forex market. It is not possible to make money with a good profiting strategy if you are not disciplined.
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Re: Develop Trading Discipline

Postby Charles Baksh » Wed Jul 15, 2015 7:26 pm

Discipline is definitely the key in any work we do and if we are not good enough in that way then we won’t find any success. I am lucky that been working with brilliant company like Nova FX, I can always stay within my discipline levels due to their stable spread of 1.5 pips, high leverage up to 1:1000 and brilliant 111% bonus on deposit, it’s just too good and something that has really made my life easier and simple!
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Re: Develop Trading Discipline

Postby Sininfinity » Thu Jul 16, 2015 6:07 am

I heard this quote somewhere "Victory needs preparation" and for forex this is totally correct. Without discipline one can not succeed in the market. A good trading plan and following it is very important in this field.
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