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Thread: Discipline of mind is the key to successful operation

  1. #1
    Senior Member
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    Discipline of mind is the key to successful operation

    "Can become a successful investor or large traders, the market will follow you into action, breathing pulse, even leading the market direction." This is some of the investor's "dream." In fact, the idea is wrong.
    To be a successful investor or operator instead, must be strictly laid down their own "discipline" rather than be with nature. As the military demands of a regular daily routine. Although compliance is difficult, very hard, because it is a little more or less against the humanity. But I more than 10 years in the trading room to see the success of investors, large fund managers, such as the U.S. champion manipulator of people Mading Shu, Mr. Edwards, who are both strict discipline of the people trading investments.

    So in the end to observe the things which only comply with the "discipline" standard?

    Is very simple, all transactions over the preceding mention of the principles, such as:

    1, since the transaction set a clear plan;

    2, strict implementation of stop loss, stop interest alone;

    3, the admission should be admitted according to the signal;

    4, phased capital investment, followed by the establishment of the position, not desperate;

    5, not with sex but is that with the emotions into the appearance;

    6, no pre-trade drinking, overdraft physical and lifestyle to be a regular;

    7, examine and reflect on each transaction, to develop a discussion and make trade journal.

    I have in the past decade, encountered many failures of customers about their typical behavior patterns are as follows:
    1, conceited. Small trade, earn a little money is no problem, but not always make a lot of money;

    2, do not want to stop-loss, small hole bigger hole, big hole become a black hole;

    3, do not listen to others advice, bent;

    4, very superstitious, that deal with luck the success or failure, and never think about with their bad habits

    5, very big concerns, and never admit defeat transaction can always find an excuse to lose money, self-deception;

    6, once they lose money Jiejiuxiaochou, add unhappy unexpectedly melancholy;

    7, lack of expertise, often like to work behind closed doors.

    Why investors are more frequently committed errors, the lack of "discipline of the mind" mean? I think the reasons are threefold:

    First, the subjective sense too. Just think of "must make" did not think "if wrong." Often guilty of no less than stop-loss from illnesses such as single-or desperate.

    Second, the chances cause trouble. Often self-comforting, self-hypothetical "hope" instead of "facts", such as the ostrich when we come across only the head buried in the sand, the body is still exposed to danger. Would "not afraid of mistakes, afraid drag" principle aside, how can they lose money?

    Third, inertia. Knowing that "stop-loss single" must be issued as soon as possible, but always have the "look say" the idea, so long run how can he make money? !

    If we can overcome the above three points, could overcome the failures of seven previous behavior patterns, strengthen self-discipline, as soon as possible to join the ranks of winners.

  2. #2
    Member
    Join Date
    Apr 2012
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    80

    Re: Discipline of mind is the key to successful operation

    You got it right not only in forex trading in what ever business we are doing or we are about to do these are the essentail things we ought to have in mind perhaps i think one is missing which is reducing the level of greed in us as this can be a factor that will lead us to automatic bank rupy,though those above listed mind displine are some times hard to achieve perhaps its the way to get sucessful.

  3. #3

    Re: Discipline of mind is the key to successful operation

    @fxsniper. discipline, a clear mind, patience and calmness is the key to forex success. :good:

  4. #4
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    Dec 2014
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    Yes, it’s very crucial for anyone to be discipline in the working way, if we are not discipline enough then we probably will end up with several losses, so that’s why it becomes all so much more crucial that we work out discipline approach which will always be healthy for us. I think it far easier to do thanks to OctaFX broker and their mouth-watering facilities which include the low spread of 0.2 pips for all major pairs and 24/5 support as well!

  5. #5
    Quote Originally Posted by Morgan Dupree View Post
    Yes, it’s very crucial for anyone to be discipline in the working way, if we are not discipline enough then we probably will end up with several losses, so that’s why it becomes all so much more crucial that we work out discipline approach which will always be healthy for us. I think it far easier to do thanks to OctaFX broker and their mouth-watering facilities which include the low spread of 0.2 pips for all major pairs and 24/5 support as well!
    When you are disciplined, your are aware of the situation and details about your account is very well managed which inturn helps you to take quick decisions.

  6. #6
    Senior Member
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    Dec 2014
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    268
    Obviously, I don’t think there is much possibilities if one does not have control over his mind, so that’s why we need to make sure we are not just discipline, but must also have control over emotions. It is not anything easy to do, but if we make right effort than it’s not impossible either, so for me it’s completely possible especially with OctaFX broker using their low spread of 0.2 pips for all major pairs while that also keeps me completely relax.

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