Maintaining discipline

Quote from Sqanp:

Sqanp:)



Yes you do just like i know who you are. Check Mate. :cool:



Good trading
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Be sure to get a new alias traderpro now that this one has been outed, I'm sure you can't wait to talk shit to me again.

I'm in your heard son, I own you and your wife. :cool:
 
Quote from nimble:

I have realized for many months that lack of self discipline is my biggest problem in becoming a consistent trader.

By nature, I am a very adaptable, flexible, and forgiving person. Somewhat a risk taker, and like to try out new things. Always curious.

As you already can tell, I have a predisposition that makes it hard for me to maintain discipline.

General wisdom says I should find a job that is suited for my personality and talent. Well, I am attached to the potential of monetary reward, and flexible hours of a trading career. I am working towards making trading my second/retirement career.

I have traded actively for 1.5 years now. Made a whole lot in a very short time and lost it all. Possibly I will finally find that trading really isn't my thing. At this point, I am not giving up. Not yet.

My main focus for the next many weeks, months, years is to train and maintain discipline. I will post in this thread readings or tools I have found regarding self-discipline, as well as my plan and progress.

I hope this thread and compilation will be useful to myself and others on the board.

Comments, suggestions or simply moral support or beating are very welcome!
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My biggest problem is also discipline. Iam also very impulsive and find it very difficult to stick to the rules. Iam taking time off from trading until I figure out how to stay disciplined. My problem is I stick to the rules for few months, make good money, but then become very complacent. I cant seem to stay disciplined for more than few months at a time. I hope you find a way to stay disciplined becuz its one of the keys to sucess
 
Quote from nimble:

I have realized for many months that lack of self discipline is my biggest problem in becoming a consistent trader.
By nature, I am a very adaptable, flexible, and forgiving person. Somewhat a risk taker, and like to try out new things. Always curious.
As you already can tell, I have a predisposition that makes it hard for me to maintain discipline.
More...

Maybe nimble you just do not want the benefits of successful trading badly enough.

Maybe you see yourself in one light whilst trading places different demands upon you which are in conflict.

Should this be the case, discipline (as you describe it) is not your answer.

regards
f9
 
Quote from fearless9:

Maybe nimble you just do not want the benefits of successful trading badly enough.

Maybe you see yourself in one light whilst trading places different demands upon you which are in conflict.

Should this be the case, discipline (as you describe it) is not your answer.

regards
f9
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He should try disciplining himself to make a set amount and quit when he is ahead ... works wonders for me.

Now when you've done that little exercise, try and see when it would be more advantageous to keep trading ... there are heavy trend days when the market just pours money into your pockets, can you figure out when this is happening?
***
Study, study, study.
 
fearless,

"Maybe you see yourself in one light whilst trading places different demands upon you which are in conflict."

Can you rephrase? Not sure what you mean here.
 
MandelbrotSet,

My problem is not stopping trading when I get a profit. My style gives me 2-3 trades everyday. When it works, I rarely get into trouble. It is when my first trade in the day gets into trouble or I missed a trade, I get into trouble the rest of the day.

I try to get 200-300 a day, but I don't force myself to get that as I will get stuck to that goal.

Part of the skill is to recognize days when it is NOT worth while to try any more. And part of it is to just have the discipline to "walk away". Usually recognizing is not the problem. Stepping away is the problem...
 
Thanks to all who has responded with content.

And for those who posted pages worth of spam on my thread, please consider some respect for me.

This thread will quickly become USELESS to me and anyone if the flaming continues.
 
Quote from MandelbrotSet:

Be sure to get a new alias traderpro now that this one has been outed, I'm sure you can't wait to talk shit to me again.

I'm in your heard son, I own you and your wife. :cool:
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LMAO, your not worth it. But too funny:cool:
 
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