How To Build Discipline In Forex Trading

[moonchild]

Discipline equals freedom, says Jocko Willink a navy seal who fought Houthis in Iraq and has a multi million dollar supplement company, in trading like in any endeavor, discipline is very important is the difference in achieving your goal or not, nirvana or hell etc.

Here's a training from one of the best traders that ever graced the planet earth, even though he's not here with us, his good memories and work will stay with us forever Dr David Paul, this training NJ in is aimed at building your trading discipline and removing fear from your execution.

Get a strategy, could be anything, and back test it, a 40% winning rate is good to go.

Define an entry point, from your strategy, develop an entry point and how you can exit the market.

Execute 20 trades with your strategy, do not hesitate, the moment you see a setup up just execute.

 

[btaliat]

Some of the ways to build discipline will include making sure that we learn how to use only what we can afford whenever we want to trade. There are sometimes when we may be tempted to trade with much money, our disciplinary level will allow us not trade.

And as well, we should learn how to stop reading after we must have met with our targeted price for a day or month as the case may be. Trading after meeting the target allow us to lose more as traders in the forex market.

 

[FinTrader]

I would say this: a trading strategy will not work without discipline, even the most profitable one. You need to be able to wait, not enter the market without following all the rules of the strategy, you cannot try to immediately return lost funds from an unsuccessful transaction, and you cannot trade a large lot, violating risk management. If you violate these rules, then any strategy will turn into a loss-making one.