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Discipline

4 Rules every successful trader should follow📈😎1. Trade according to the system. 2. Keep statistics. 3. Have strict risk management. 4. Adapt to the market. Trade according to the system When you trade without a system, it's gambling. Usually, when you ask a beginner why he has opened a position, he uncertainly begins to refer to the fact that someone gave him a signal, or that he thinks it's time for the coin to go in his direction. Trading is a job in which discipline is rewarded. That is why every trader has his own trading system, which he follows in every trade. It's like with the road rules, you can drive car without knowing them, but then you are almost guaranteed to get into an accident. Keep statistics Professional athletes constantly watch recordings of their performances and practice all the movements in front of a mirror, paying attention to every detail. It is vital to get better. For a trader, statistics is a riddle that helps him learn from his mistakes. You should write comments on each trade, filter them by reason of entry or closure, track the average risk, average profit, percentage of successful trades and analyze each trade in detail on a tradingview chart. Have strict risk management Sometimes the market goes against you and you feel the full range of emotions – hope, anger, disappointment, despair. On such days, you will lose all your money if you do not have clear rules. Set yourself a clear limit – no more than 3% of the deposit lost per day. For example, you have a deposit of $1000. You can't lose more than $30 a day. In this way, you no longer risk falling victim to a spiral of negative emotions, you will begin to be more responsible in the trades you open, and you will be able to create financial stability. Adapt to the market Institutional players are always coming up with new ways to entice young players to invest in their coins, and technicians are developing increasingly sophisticated robots. That is why our responsibility as traders is to develop faster than them and to not stand still. To do this, you need to monitor the market and watch which setups work best and which end up as traps. An obvious example: during a bull market, breakouts work upwards, and downward breakouts are usually false. The same is true for the bear market – downward breakouts are cool, upward breakouts are deception. In addition, you need to experiment with your trading algorithm and identify its weaknesses. Add new rules, test them, evaluate the difference. Follow these rules and I guarantee that you will earn much more from trading, and the process itself will give you more pleasure than ever. Good luck with your trades and see you in the DOM ✌️
Education
by Artem_Dishel
1
Patience and Discipline Key to become consistently profitable trader is to be patience and discipline Don't ever bend the rules thinking it will work just as well. it won't Don't be greedy. No matter how good the trade setup looks, stick to your rules and your predetermined order size. Trading can get boring, there are many times when nothing is happening in the market. Have patience and wait for the best setups. No matter what strategy you use, you will always have bad trades from time to time. Don't let your emotions cloud your judgement. Take the loss and move on. Every loss should be a lesson to learn from. study what happened, identify what mistake you've made, journal it down and try not to do it again. There are times where you didn't do anything wrong but still suffer a small loss. This is part of trading, don't try to explain what cannot be explained. The market makes random moves occasionally. If the strategy is not bad, don't change it, stick to it and always manage your risk. ALWAYS MANAGE YOUR RISK
Education
by AhKeongTheTrader
3
LET'S GET REAL: Fear of Losing! Hey Traders, Most traders battle it. I myself had to progress past this in order to achieve consistent returns trading the markets. It is seen as one of the hardest challenges to pass in terms of emotional discipline. Understanding yourself better so you can make decisions in a calm, composed and consistent manner is crucial to success. Today I wanted to touch on that. I wanted to talk about the fear of losing what spurred from my fear of losing, how I progressed through it (it still creeps in from time to time). Hopefully you can take from my story and how it improved your trading or how it can help you progress past that fear of losing. If anyone has any questions or maybe some other stories in the way they progressed through a fear of losing or a fear of being a failure, please feel free to share in the comments and I'll get back to you as soon as possible. Have a fantastic trading week!
Education
by the5erstrading
6
USD index rising to further significant levelsI see the dollar rising to further significant levels of which I have marked. I just aim to follow the cycle long term in this regard, I'll have a clear idea of the types of entries I should take seasonally as swing while still following the cycle on a weekly scale each quarter with a bias in relation to this long-term one I have noted on the USD. So I just have to follow the cycle according to the trading plan and better that system as I note further money gaining methods to maximize this cycle
TLong
by Serene_Quantum
1