Discipline and Forex Trading

Discipline develops over time and then you can already see its effect

Demo is the most decent way of learning Forex trading, but I also use back testing feature of Mt4 trading platform. Yes, no doubt demo is useful, but it’s a slow process! Besides, back testing is quick process! I used back testing after practicing my demo for 5 months.

Discipline is the key for successful trading. A trader needs to be discipline to be successful. There are many traders who are a good analyst but a bad trader because they are not discipline. Every trader should read the book The Discipline Traders by Mark Douglas.

Adribaasmet posted:
Demo is the most decent way of learning Forex trading, but I also use back testing feature of Mt4 trading platform. Yes, no doubt demo is useful, but it’s a slow process! Besides, back testing is quick process! I used back testing after practicing my demo for 5 months.

Demo account is best for learning. however, you can learn how to deal with emotion in demo account.

Discipline is the most needed quality for successful trading. Without discipline consistent profit is not possible. Many good analysts fail to make regular money due to lack of discipline.

Without discipline in trading, it is not possible to make a profit. Discipline should be maintained for every trade. Successful traders do not trade without discipline. Many traders patiently maintain a lot of discipline and they will one day succeed in trading.

Do not believe in people who say trading is like gambling, the truth is far from that. I have disciplined myself in the last 2 years and seen a sea change in my win ratio. I can tell you without discipline you can forget about profits in trading.

Discipline is one of the most important traits, a trader should maintain. Discipline makes you confident and helps to achieve your goals.

blandpatsyy posted:
Do not believe in people who say trading is like gambling, the truth is far from that. I have disciplined myself in the last 2 years and seen a sea change in my win ratio. I can tell you without discipline you can forget about profits in trading.

I completely agree with you. It is essential to make a consistent profit and to do that, traders must require discipline.

blandpatsyy posted:
Do not believe in people who say trading is like gambling, the truth is far from that. I have disciplined myself in the last 2 years and seen a sea change in my win ratio. I can tell you without discipline you can forget about profits in trading.

There were many good posts. It was my failure when I did not maintain discipline and did not trade. The ratio of profitability was much lower. But since I became a disciplined trader, my trading results have changed.

in order to me , its more appropriate for you to finish the pre school level including demo account or micro for practicing.

Discipline is the most important thing in trading. Every successful trader has this quality. If you are not discipline you will make a lot of unnecessary trades. That's why discipline is important.

as discipline practice is important and for that demo is a good choice , but i dont like this, i always try to maintain live account with minor balance . its supportive to acquire live knowledge and experience.

Would love to know what are some of your methods way to stay disciplined for trading.

ohmaria posted:
Would love to know what are some of your methods way to stay disciplined for trading.

1. Write a trading plan
2. Stick to it

Discipline and patience are two key traits that I think all successful traders must have.

Discipline is very important. Even if you have necessary skills and knowledge, they are nothing if you are not disciplined.

Disciplined traders are mature traders and mature trading means confidence through knowledge and skill. Forex is losses, but your confidence can give you a competitive edge. You can protect your account through money management and risk management, and your learning will make you a more measured trader.

Discipline is the key to success in forex market, but it is very hard to reach. There are so many temtations and emotions during trading, and a trader should pull themselves together in order not to let emotions interfere in decision making process. It is an open secret that emotions lead to the loss of the budget. So, in order to avoid this negative situation, you've got to be disciplined.