METHOD OR DISCIPLINE?
Dec 08, 2021 at 07:24
Yes, People should avoid getting intimidated by earning rapid money. This is a reason for many trader's demise. In their greed of making rapid money they lose their mind and take bigger risk than they can handle. And after bad trades all they can do is blame the market.
Miembro desde Jul 23, 2020
posts 869
Dec 09, 2021 at 20:05
Both method and discipline are important in trading.
Miembro desde Jun 09, 2021
posts 44
Dec 16, 2021 at 04:26
This question be like “ Whether heart is more important or blood?” You need a heart to pump blood and blood is needed to bring oxygen to all parts of the body and you need both to basically keep yourself alive.
In the same way you need a method to take right actions in your trading and without discipline you can’t follow your method. Both things go side by side to make trading successful.
In the same way you need a method to take right actions in your trading and without discipline you can’t follow your method. Both things go side by side to make trading successful.
Miembro desde May 19, 2020
posts 402
Dec 16, 2021 at 13:14
The trading task must be solved from the point of view of these two components. Method and discipline. If you see your problem in discipline, then it is likely the cause lies in the imperfection of your method and vice versa. Therefore, it makes no sense to consider what exactly is the most important part in manual trading.
If you trust your trading 100% to an Ea, then of course, its setup and methodology will be of key importance.
If you trust your trading 100% to an Ea, then of course, its setup and methodology will be of key importance.
@Marcellus8610
Dec 17, 2021 at 19:27
I feel that both method and discipline are equally important for successful trading.
When we talk about method, i.e. trading strategy, we assume the theoretical knowledge of what to do something and how to do that. However, discipline is in charge of implementation this theory on practice. I mean that it is not enough just to know what to do, you should actually do the actions which are required in the current situation. Quite the same as you are ready to do something, but you don't know what to do. Neither of these approaches is able to bring any profits. So, in order to be a success on the market you should know and act.
When we talk about method, i.e. trading strategy, we assume the theoretical knowledge of what to do something and how to do that. However, discipline is in charge of implementation this theory on practice. I mean that it is not enough just to know what to do, you should actually do the actions which are required in the current situation. Quite the same as you are ready to do something, but you don't know what to do. Neither of these approaches is able to bring any profits. So, in order to be a success on the market you should know and act.
Dec 30, 2021 at 12:50
Akasuki
Every method is profitable if you know how to trade it and you must be disciplined
I agree with you on discipline, but the method/Strategy what ever you wish to call it MUST have an edge in your favour on the percentage wins verses loses.
So once you have your Strategy, Remember Trading is a Business an Occupation of work. (Not Gambling)
1.You wait for a trade set up.
2. Open your position. or (Positions if you average in to trades)
3.Stop , TP in place.
4.Win - Lose
Back again to number 1. and start again.
Trading should be Mundane , you are in full control of your emotions. You take the Wins and Loses
Win v Lose doesn't matter as your Strategy Edge (MUST) give you a positive £% outcome over the week-Month -Year.
Every method is profitable if you know how to trade it and you must be disciplined
I agree with you on discipline, but the method/Strategy what ever you wish to call it MUST have an edge in your favour on the percentage wins verses loses.
So once you have your Strategy, Remember Trading is a Business an Occupation of work. (Not Gambling)
1.You wait for a trade set up.
2. Open your position. or (Positions if you average in to trades)
3.Stop , TP in place.
4.Win - Lose
Back again to number 1. and start again.
Trading should be Mundane , you are in full control of your emotions. You take the Wins and Loses
Win v Lose doesn't matter as your Strategy Edge (MUST) give you a positive £% outcome over the week-Month -Year.
Not Specified
Dec 30, 2021 at 22:39
I think both are intercorrelation, the trader need a good method and then also they need good discipline to implement the method, because good method if they cant discipline hence will also useless, it will reduce trading performance of the trading methodology.
Miembro desde Oct 29, 2021
posts 70
Jan 05, 2022 at 04:21
Method and discipline are important aspects of forex trading. A trader who lacks either will likely not be successful in the markets. The method is what a trader uses to make decisions, while discipline is the ability to stick to those methods despite losing streaks or tempting opportunities. Most successful forex traders have both in abundance, and it's what helps them overcome the many challenges they face while trading.
Miembro desde Jul 20, 2020
posts 399
Jan 05, 2022 at 19:54
Tuxedo888 posted:
Akasuki
Every method is profitable if you know how to trade it and you must be disciplined
I agree with you on discipline, but the method/Strategy what ever you wish to call it MUST have an edge in your favour on the percentage wins verses loses.
So once you have your Strategy, Remember Trading is a Business an Occupation of work. (Not Gambling)
1.You wait for a trade set up.
2. Open your position. or (Positions if you average in to trades)
3.Stop , TP in place.
4.Win - Lose
Back again to number 1. and start again.
Trading should be Mundane , you are in full control of your emotions. You take the Wins and Loses
Win v Lose doesn't matter as your Strategy Edge (MUST) give you a positive £% outcome over the week-Month -Year.
Really nice post, i know for sure if people journalled their trades they would see they dont follow one of these steps in some way or another
Jan 05, 2022 at 23:26
I just think both is a correlation, method trading is about how trader decided to make new entries, then discipline also needed to keep trading work always on the track,
trader need to found profitable method and keep work fully discipline
trader need to found profitable method and keep work fully discipline
Jan 07, 2022 at 19:37
Both are significant and they contribute to your trading results equally much. That is why there should be no differentiation between which side to move. You need to be knowledgable and self-disciplined at the same time, otherwise, your trading will be unpredictable and there will be lots of losses which are sure to kill your trading account.
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