Tips for Discipline in Trading

monarchcb.com - Trading is a profession that demands very strict obedience. You must obey to carry out a series of trading system conditions. You also have to be able to control yourself so you don't raise your hand in anger, such as worry and greed. A successful trader is a trader who can always be obedient in his trading. But to be obedient is not easy. The following are some guidelines for becoming a compliant trader.

Obedience is basically a psychological development that allows you to stay motivated and focused in the midst of various obstacles. Obedience is an action to restrain oneself, against the will to achieve a goal. In a diet to lose weight, you must adhere to exercise and refrain from eating delicious food. On the other hand, in trading, you must comply with trading conditions and refrain from anger, worry and greed. If you are interested in knowing more about discipline, please read the post Bowl of Discipline Porridge

In trading stocks, forex, or gold, you definitely want to be an obedient trader, not an emotional trader. But order is not an inborn trait. Obedience must be trained. Practicing obedience also requires method and duration. Being an obedient trader is difficult, but obedience is a necessary and important character for every trader, the goal is that something tomorrow can profit in an unchanging way.

Here are some tips to help you become a compliant trader:

1. Make sure you have a Trading System

The Trading System will be your guide to determine when to enter and leave the market. How can you obey if you don't know what to try? So the initial guide is to have a Trading System. Read the next post for more news about the Trading System.

2. Record and paste the Trading System in an easily visible place

So that you don't forget, write down the provisions in the Trading System and paste it in an easily visible place. It can be in the cubicle, on the monitor screen, or on your activity table. So every time you want to start trading, you can read back the rules in the Trading System.

3. Learn first on a demo account

If you trade forex, then learn on a demo account. After you can be disciplined and profits do not change on a demo account for some time, then trade with real money.

4. If you make a mistake, accept it

Making mistakes is a natural thing in how to lead to order. You continue to be angry with yourself when you make a mistake, so that it will continue to affect the next trade. The lesson plan is not to do the same thing.

5. Every time you get injured, don't trade first

Stop for a moment every time the injury. Take the time to relax. If you push for trading, it will make you more angry to react to anger in the market.

5. Recognize your anger

If you find yourself breaking out in a cold sweat while trading, hoping to make a trading position, that means sovereign anger. Or if you are very happy when trading, that is also a sign of sovereign anger. Close your trading program immediately, and review what was tried. Remember that obedience wants a cool head, not anger.

6. Find a trading instructor or mentor who can greet you

Have an instructor who can greet you when you make a mistake. The instructor is to monitor trades and reassure you of the need to comply. This instructor can be a friend, companion, aged person, child, or anyone who understands trading. But it is recommended that this instructor not trade with you so that his thoughts are always objective.

7. After the profit, take a break

After profits, traders are generally more euphoric or happy too late. This can force traders to be more disobedient. Should after the profit, take a break for a while

8. Take a short break in the middle of the trading duration.

Staring at the pc screen and then pierce through it consumes energy. Free time in the middle of trading can bring back the drained anger. Allow your anger to subside.

9. For daily trading

Write down the trades tried in one day, what mistakes were tried, and so on. Review daily trading weekly or monthly to identify what needs improvement.

10. Always try to focus

If your mind is elsewhere (for example in other professions, family, companion, children, etc.), trading generally becomes unfocused and disobedient. When you're not in the mood, you don't need to trade. Always focus on the current market before opening a trading position.