Trading discipline will allow a trader to act instantly when an opportunity presents itself, and traders who are trading for a living need discipline to stick to their plans.
Trading discipline will allow a trader to act instantly when an opportunity presents itself, traders are trading for living need discipline to stick to plans.
Trading for Living and Trading Discipline

Trading for Living

  1. Follow the trend, Don’t be afraid to be a sheep.

2. Know why you are in the market to relieve  boredom / to make profit.

3. Use any good system and stick with it.

4. Apply money management techniques.

5. Do not over-trade

6. Take a position only when you know your profit goal and risk limit.

7. Don’t try to pick tops and bottoms, take your bite out of the middle.

8. Don’t trade too many markets with too little capital

9. Don’t trade illiquid markets

10. Resist from temptation and calculate Risk Reward ratio before you trade

11. Establish a trading plan. Decide entry & exit points. Profits are for those who act and not react.

12. Follow your plan with stop losses and always use stop loss orders.

13. Use technical signals to maintain discipline

14. Eliminate impulse trading, When you have made a successful trade avoid giving back some to the market

15. Trade with plan not greed hope or fear

16. Cut your losses short 

17. Let your profit run. Accumulate them 

18. Accept many small losses and stay still for few large gains

19. Standing aside is a position, Patience is crucial

20. Don’t trade with emotions

21. Approach the market with a reasonable time goal

22. Never add to a loosing position

23. Analyse your losses, learn from your losses 

 

Gratia Mario

The founder of traderma.com has 15 years of experience in the financial markets. She aims to make trading and investing easy to understand for everyone, and she has been interested in developing the money management techniques.

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Gratia Mario

The founder of traderma.com has 15 years of experience in the financial markets. She aims to make trading and investing easy to understand for everyone, and she has been interested in developing the money management techniques.

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