To Win You Must Have This!
Discipline is a hard trait to acquire for most traders.
To acquire discipline, you need to educate yourself and know everything about the currency trading system you are going to use.
Only by having a complete understanding of how and why your system works, will you acquire confidence in its ability to be successful and from this confidence comes discipline.
The reason many traders don’t succeed is they blindly follow experts and systems they don’t understand. As soon as they hit a few losses, their discipline goes because they don’t have confidence in what their doing.
The biggest mental barrier for any trader is executing his trading signals in the face of consecutive losses (all traders will have them and they can last for weeks or months) and it is in these periods that you must stick with your system and not throw in the towel.
It sounds easy to do but is anything but – it’s very hard. If you want to achieve success you need to base your strategy on the right knowledge to obtain confidence and achieve discipline.
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07-31-2008, 03:29 AM
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