I, along with many other independent trader have issues with discipline, breaking the rules of our system etc. I was wondering if anyone has advice on a good way to enforce discipline. One idea I thought of would be to have a trading partner, kind of like a workout partner. If anyone has any ideas or advice please chime in.
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Yes, maybe if I knew that I would be shocked I would follow my rules. The problem is that I can get away with it, or so I think, until I blow up my account.
When you lose enough money due to lack of discipline you eventually will either give up trading, or you will force discipline upon yourself. If you want to stay in the game there is no choice. edit: If I have the urge to trade something that is not my signal then I will trade it on the simulator.
In case you haven't noticed, when you're undisciplined, you lose. Tell yourself that over and over before the trading day begins. Follow the system strictly. If the market makes a sweet run and you didn't get a setup to allow you to be a part of it, brush it off. There's always another trade. Don't be in such a hurry to lose your money.
It's amazing. I have told myself that so many times, I have preached it to others and then in a moment of weakness I break my rules.
The only reason for this is you are in a HURRY to make money. Lots of money. I base this on your thread tuning 800 dollars into 250,000 by July. Have realistic attainable goals. Don't press for the big score. Try to be consistent.