Trade discipline

In every business, there are a number of predefined factors, without which your destination will never be reached. This is also true for Forex. Trading time, the money to invest in, stop losses, take advantage, etc. are some important factors. Each item in the forecast must be analyzed on the basis of proper business discipline. Set your targets every day and never trade after the targets have been reached.

If you want to make money from this market consistently, you need to be disciplined. This is a risky market. If you can not be disciplined with your profession you can not succeed.

The best thing to do is to set a goal in trading. If your goals are not right, you will never succeed. You have to trade according to the plan. I am not just saying trading, you need a plan if you want to do anything. Because nothing is possible without a plan. If you set a regular stop-loss that hits the stop loss you will not open the trade that day. And you have to set a target every day, do not expect more than the target. All in all, if you want to make a consistent profit, you need to maintain discipline and trade.

Thank for your replay

setting goalposts is important. if you dnt achieve, go back and see WHY, take the time to understand why things didnt go to plan befor you delve in again.

Discipline is everything in forex, more important than I reckon it is in other sorts of jobs or businesses. One emotionally wrapped trade and you can see your loss string initiating.

Trading discipline must be developed from the very beginning, because then it will be difficult to rebuild.

I do agree that discipline should be developed in the beginning, but how would they know and be ready for that? That is an important statement to be made.

Stick to a prove trading method.

The 10 golden rules of forex trading
1. Avoid forex trading software that claims to guarantee returns
2. Always use a demo trading account
3. Forex trading can be highly stressful – avoid emotional trading
4. Invest in a solid forex education
5. You can learn to trade forex successfully
6. Manage your forex capital wisely
7. Manage your investment-per-trade wisely
8. Use common sense
9. Ensure you use risk protection strategies at all times
10. Be especially cautious about overextending yourself with leverage

Yes, you are right. To make money fro this risky market you have to be very disciplined.

Gracewilson1995 posted:
The 10 golden rules of forex trading
1. Avoid forex trading software that claims to guarantee returns
2. Always use a demo trading account
3. Forex trading can be highly stressful – avoid emotional trading
4. Invest in a solid forex education
5. You can learn to trade forex successfully
6. Manage your forex capital wisely
7. Manage your investment-per-trade wisely
8. Use common sense
9. Ensure you use risk protection strategies at all times
10. Be especially cautious about overextending yourself with leverage

Good points!

Gracewilson1995 posted:
The 10 golden rules of forex trading
1. Avoid forex trading software that claims to guarantee returns
2. Always use a demo trading account
3. Forex trading can be highly stressful – avoid emotional trading
4. Invest in a solid forex education
5. You can learn to trade forex successfully
6. Manage your forex capital wisely
7. Manage your investment-per-trade wisely
8. Use common sense
9. Ensure you use risk protection strategies at all times
10. Be especially cautious about overextending yourself with leverage

This is very nice pointers to remember. Thank you for posting them

Discipline is very important if you want to survive in this risky market and want to make money from this market.

Gracewilson1995 posted:
The 10 golden rules of forex trading
1. Avoid forex trading software that claims to guarantee returns
2. Always use a demo trading account
3. Forex trading can be highly stressful – avoid emotional trading
4. Invest in a solid forex education
5. You can learn to trade forex successfully
6. Manage your forex capital wisely
7. Manage your investment-per-trade wisely
8. Use common sense
9. Ensure you use risk protection strategies at all times
10. Be especially cautious about overextending yourself with leverage

Very nice. It will help all the traders to easily remember all the points to trade in the fprex market.

Some Important Rules of Forex Trading Discipline

1. Money management
2. Risk management
3. Trade management
4. Trading plan
5. Good strategy
6. Always use stop loss
7. Market context
8. Trading without emotions
9. Stay away from greed and fear
10. Do regular meditation

The recommendations are really very sensible, all the points are weighty enough to start trading

LeviSievwright5 posted:
Some Important Rules of Forex Trading Discipline

1. Money management
2. Risk management
3. Trade management
4. Trading plan
5. Good strategy
6. Always use stop loss
7. Market context
8. Trading without emotions
9. Stay away from greed and fear
10. Do regular meditation

These are some really good points for disciplined trading. Really shouldn't miss out on any point.

If you wan to become successful in this market, discipline is very much important.