Discipline, Mental Skills and the Psychology of Trading

Discipline - Majority of traders are not disciplined in their approach, else they would not be failing. These failed traders simply hate to hear the word Discipline!

Discipline allows you to more effectively plan your work (trades) and work (trade) your plan. Discipline – “Habit of Obedience” – yes the keyword being habit, i.e. have a Trading Plan and make a habit of following it. The golden rule should be No Signal – No Trade.

To sum-up this Mental skill set PAIR (Discipline / Passion): You must be disciplined AND remain emotionally detached from the market.


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