Top 4 Reasons Why You Should Strive To Become A Super Disciplined Forex Trader

Before delving into the how or the why you should probably strive to become a super disciplined trader,

first you’ll have to understand what is meant by the term ‘discipline’.

Simply put, discipline is a habit which is shaped by the ability of our conscious mind to exercise will power with firm conviction, persistence and repetition especially when doing what we know we must to succeedwhether we feel/want to do it or not. Trust me when I tell you, without discipline you cannot succeed in any field whatsoever, that’s just the simple truth.

Having the ability to exert self discipline upon ones’ self at will is one of the key things you have

to master to become successful as a forex trader.

The stress associated with resisting the constant temptation of greed and anxiety always encouraging inexperienced traders to stay longer in a trade hoping for more profits or falling victim to whim trading born out of sheer boredom or gut feel about future price directions which almost always end up with huge losses are enough reasons for lots of people to back out of trading pretty prematurely.

Without an atom of doubt I can tell you that trading experience is one of the greatest assets any trader could ever wish for; you can’t buy experience you’d have to actually live it to love it. This is why it’s relatively easy for super traders to adhere strictly to their trading rules because they know from firsthand experience that the strategies and techniques constituting their trading methodology works and so they trust and follow it diligently.

Super disciplined traders do not only have the power to trade with the most minimal amount of stress but also to plan their trade entries, management and exits even before their orders get filled.

If Trading was a game of chess simply studying your opponent or thinking 5, 6, or even 10 steps ahead wouldn’t be enough for you to win, you’d have to work with a carefully thought out strategy that’ll tilt the odds in your favour judging by your opponents possible reactions as a result of observing their external psychology.

Trading experience can only be acquired through extended exposure to live markets, watching and learning how to interpret price action on a closer level with the help of fundamental and technical pointers such as the study of chart patterns, candlestick charting technique and Fibonacci trading among a host of others.

Super disciplined traders are more like consistent profit pulling machines due to their ability to adapt to whatever underlying

market conditions prevail at any moment, creating a favourable trading environment for themselves all the time.

Every candle on the chart has something of importance to tell a trader about the current market condition switching to a lower time frame only magnifies this to show the trader in more detail what really is happening under the hood, only strictly following a properly tested and proven trading plan can give you this type of trading edge and you cannot have a plan you follow without fail if you’re not a disciplined trader.

Why You Should Become a Super Disciplined Trader

There are so many advantages to becoming a super disciplined trader of which I choose to elaborate a bit on the top 5 in my humble opinion. Without further do;

Reason #1

Will Power

A strong will power can help you resist the urge to place trades just for the sake of doing something as opposed to waiting for a proper trade setup that agrees with at least one of the forex trading strategies in your trading system. Abiding by your trading methodology will make sure you don’t go off trading out of boredom either.

Reason #2

Conviction

Snoop around forex trading forum anywhere on the internet and you’ll find everyone voicing their opinion so actively you’d wonder how they managed to argue so much with pictures of their forex trading charts and still have time to manage their trades properly.

Am just saying, everyone’s entitled to their opinion but they’re not trading your money are they? So why change your bias after all logic and reasonable analysis tells you the euro will shoot higher just because you saw some over complicated technical analysis by some forum member forex trader only to short the euro incurring horrible losses?

Being a super disciplined trader, you’ll have a firm conviction in your trading abilities because your acquired trading experience would have exposed you to some rigorous tests making you trust your trading skills because you always turn out with consistent profits over the long run.

A strong trading conviction also makes trading much less stressful and much, much, much more fun.

Reason #3

Persistence

As a super disciplined trader you’ll become accustomed to persistence even if you’re currently facing a losing run in your trading.

Most people leave trading prematurely not even giving it a chance to be their gateway to financial freedom due to the fear of loss, if you’re anything like me, failing at trading only fires the obsession to conquer, I know, it really does feel great.

Reason #4

Repetition

Repetition makes trading become much more ordinary, taking the mystery out of trading making it no more than the regular everyday activity.

The first few times you started driving you must have had a hard time concentrating on all the things that had to be attended to, to make a car move safely right?

But what happens when you’ve been driving for say a year? It only gets easier and easier to the point where it’s a game of reflexes because you’ve done it so many times now. Repeatedly doing the same thing in your trading office each and every other trading day makes it become natural for you to trade with ease more like push button trading if we can call it that, but this only comes with extensive practice trading.

Hope you start shaping your trading habits like those of the highly successful forex traders, believe me it’s well worth it from a risk/reward point of view, traderly speaking:D

Hope you enjoyed reading this article don’t forget to drop your comments and/or questions if you have any, am always glad to help.

Cheers people…

Article Source: http://www.streetarticles.com/day-trading/top-4-reasons-why-you-should-strive-to-become-a-super-disciplined-forex-trader