The key to trading discipline isn't fortitude. It's not about being able to repeatedly resist temptations, every day, over and over. Trading discipline is about conviction. It's about really trusting your system with every bone in your body. Most traders don't REALLY trust their system. They follow along when it's sunny and run for shelter when it rains. Those who do their work to really know and trust their system inside out, don't need to struggle with it. They are instinctively drawn to follow it, for they truly know it works. If you're struggling with any aspect of your system - it's a sign there's something there you're not convinced about yet. Do the work to convince yourself, and then watch the discipline become so much easier.
i look at it like toilet paper - i didn't invent or make toilet paper yet i trust it do what it's supposed to do. i have conviction the tp will perform. this comes from experience of knowing it's going to work. if i blindfold myself and run across a freeway i can have all the conviction in the world but i will definitely be needing that toilet paper if i survive.
%% LOTS of chart work or price data helps; a lot of stupid stuff can be avoided if one knows any business has expenses [losses].. Lots of way to make money in any business that can make a bigger profit than expenses....................................................................................
To really trust a system you need to understand what is does. So, you start from your beliefs, objectives, low risk idea and then the tools to implement your low risk ideas, that can be a chart, indicator, whatever. Most people do it backwards and start with what they think that they see from a chart or indicator and look for a statistical evidence that would look like an edge. That is the biggest reason why people do not trust there system. It is not developed from beliefs and objectives, and therefore not understood.
You're not a sponsor. Pay up if you're going to force this shit on us. Trusting your system with every bone in your body... even if it's shit.
In this field if 1000 people attend a conference, at least 999 of them will offer an opinion why they assume the other 999 are losing. If I'm taking their money, that's the last thing on my mind is "why" they're losing. (This is not a team sport)
Imo, this is just more pie in the sky theory, it's like stating "Jesus will save you", having this wholehearted belief in a flawed belief. There is no system which is flawless, there is no system which you can anchor all your money on, there is no magic system. You can have a system but it won't be flawless and will only ever be partially trustworthy, some traders will have several systems.
The reality is, we'll believe and trust a system for some hours, days, weeks, or months, then we'll either tweak it or scrap it or ignore it and revisit it again at a later time.
Not sure who said this, but I like this definition. Discipline is an emotional mindset, and the capacity to face with serenity odds that are not included in our expectations.