Trading Discussion Test of Discipline by the Market

[theolove2021]

Another massive test of discipline by the market. Do you think you could have held this trade?

Like I said, this one was an extreme example, but this kind of thing happens all the time and it scares people out of their trades.

You’ve got to come to the realization that retracements are normal, and you should expect them.

So next time you open a trade, don’t expect your trade to move into profit and stay there – expect retracements which may look bad as some points in the trade, but the important thing to do is to see your trade plan through.

If you can get over this mental hurdle, you will start to see more success in the Forex market, because your trading will start yielding higher return on investment and make it easier to grow your account.

Keep trusting the process.

To your success.

Theophilus S.

 

[btaliat]

There is need for discipline when it comes it forex trading. There are times when there is too much profits may be the trade goes our ways. As a a good trader, you need to try to control your discipline level by trying not to put much money into it.

 

[Mataracy]

You are right with your statement. Some times some people especially those that are just starting business use to think that once you start a business the next thing is to be making profit all the time which is not so.
At time you make loose son time not that you don't know how to do business but because of the situation of the market. So one need to be very decipling in order to make it in business.

 

[Deleted member 51169]

Sincerely your topic is interesting and I love the niche you choose as a new member. Patience was the catch phrases for me, so I will comment on it. Forex trading just like the writer stated, it is a mental hurdle which in the course of trading you build the act of patience. Anyone who could be patience with his trade can do same in human relations because it is psychological.

 

[btaliat]

As it happenes in forex, it does happen in crypto trading. I could remember late 2017, bitcoins rose from less than $2000 to $19000 dollar but there was an investor that failed to collect the money hoping the price will still rise beyond that, only for the price to drop to $3000 in the year 2018.

 

[Setho]

It is always advisable that as a forex trader you should wait for the perfect entry and not just want to jump into trades anyhow because that will make you indiscipline and you might loose a lot of money from it. The market will always tempt you to lose your discipline but it is important that you should stick to the plan.

 

[Dita Walczak]

Discipline is very important in the market. It is necessary to work with the mentality that the trader can manage the discipline. Every trader must first maintain discipline. Then he will think about profit.

 

[btaliat]

As it happens in cryptocurrency, it applies in forex as well. There is need for discipline. This will let the traders know when to enter market and when to leave the market. This will also slow the traders not to be too greedy while trading to avoid missing losing much.

 

[Wisdom01]

I understand this point ,but most times you just need to follow up and stick with your plan at the end ,if you really want to gain from the market , because most times the volatility range and level can act otherwise ,it happen both in crypto and forex trading I think