Mindset, Health, Fitness
Some say 80% of success is mindset, 20% strategy. You can have an amazing strategy with poor mindset... View more
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DISCLIPLINE!! DISCLIPLINE!! DISCLIPLINE!!
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DISCLIPLINE!! DISCLIPLINE!! DISCLIPLINE!!
The financial markets are tough, and it’s easy to get caught up in the euphoria of winning or losing. However if you take a step back from your trades every now again- especially when things start going wrong -you’ll notice that discipline will be the one that you will be needing. It has played an integral role throughout my trading career as well! I remember during one particularly rough patch where everyone else was hyping a certain stock and I fought with that FOMO by making a trading plan and followed it no matter what. Its easier said than done. When you are in that situation, the easy way is to give in to the hype. Usually it takes experience and understanding to get that kind of discipline.
Once you have a trading plan, it will help to keep track of all your trading activities and stay disciplined so that the risks are kept at bay.
How does one develop that discipline? I’d say experience and will.
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2 Replies
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True discipline is a very important aspect of trading
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<pre data-placeholder=”Translation”>To trade forex, you must follow the rules. You will never be a successful trader if you trade outside the rules. So I suggest to make a trading plan and trade accordingly. If you lose by trading according to the plan, then you will calculate the reasons for the loss and create a new plan, thus one day you can become a successful trader.
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