You can have a great trading method but you need Forex discipline to apply it. The fact is most traders cannot trade with discipline for two main reasons. If you do can’t overcome these two obstacles, you will lose too…

Discipline means – to execute your trading signals exactly as your system tells you to through periods of losses. All trading systems have losses and even the best traders can lose for weeks on end. You must ride these periods out with discipline, until you hit profits again.

Sounds easy?

Its not and most traders can’t do it, for two main reasons.

1. Confidence

Most traders never bother to learn Forex correctly. They follow junk Forex robots or mentors and as soon as they hit a losing streak, they have no confidence to continue.

To have discipline you must have confidence and that is based on knowing why the system will win long term. If you follow someone elses system and don’t know how and why it will succeed, you will lose discipline.

2. Ego

In the market most traders simply hate losing! They don’t see losing and keeping losses small as part of trading, they take it personally.

They get angry, frustrated and simply cannot take the market giving them losses and making them look stupid. They don’t see losses as a normal part of trading but as a failure on their behalf.

So How do You stay Disciplined?

The first step as we said earlier is to get a good solid Forex education and understand what you’re doing. You will then know, that even though your system is likely to lose in the short term, it will win long term.

The second step is to forget your ego. Accept the market price is always the right price and the market is not personally attacking you.

See losses as the overhead you have to incur (like any business does) to operate.

All businesses have expenses and in Forex it means losing periods; so long as your long term profits are bigger than your losses, that’s all that matters.

Don’t Underestimate it!

You will never win without discipline and if you can’t apply a system with discipline, you don’t have one and will lose! That’s why discipline is the key to currency trading success.

Kelly Price

http://www.articlesbase.com/currency-trading-articles/forex-trading-discipline-why-it-is-the-key-to-forex-trading-success-and-so-hard-to-achieve-748653.html

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