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MyThoughts

Your own discipline in trading

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I can manage my stress and emotion in trading that's what really important to do in trading. I have also long patient and knowledge on what i am doing because that's very important in trading you need to have those traits to become successful.

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I have several rules when it comes to doing trading I am very disciplined in this aspect and one of the rules that I implement is not to get carried away by the excitement of making a lot of money overnight I keep my mind clear that everything is gradually I do not fall into the mistake of wanting to be rich overnight 

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I always control my self with discipline when trading so that i can reduce loss and increase my profit. Discipline is very important when trading because you will be able to manage your money and grow your capital.


Time is the ultimate weapon!

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I believe that the best option is that you just need to be calm and cold when trading, because sometimes you can go to a big loss if you do not know the proper rules, or just be aggressive, and this is a big trap for beginners!

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When I start trading, I will have studied the market well before I start any trading in cryptocurrencies in addition to that I monitor the price all the time.

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When it comes to trading, have set a certain rules for myself not to break in other not to lose my trade and one of those rules is to never be greedy and always be patient when trading. And I only invest when am sure the coins are up and profiting not when the market is in bearish.

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On 10/4/2019 at 7:21 PM, MyThoughts said:

Tell me about your own discipline in trading.
Maybe you have any personal rules on the trading floor?
Or your own rules relating to the way you feel?
For example, do not be drunk when trading. Or, if you start to really want to sleep, it is better not to make large transactions, otherwise you can make a serious mistake by inattention...

In trading you must be strategic, you can't strategy instinct to a person but you can help them to develop it. I tend to study the economics behind the price exchanges and it will let me give clue on how to anticipate the price changes.

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The currency market is something serious and therefore it is necessary to put seriousness to him, many believe that it is something easy and they place its money and to the few days they are losing it, in my case I apply much disiplina at the time of making my operations, I have my plan... I like to operate relaxed without anyone bothering me to be calm and with my mind set on the operation, so I can do things right.

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Well said the experience is the best teacher. We may learn about some of our experiences. That is why it is really advantageous if you have more experience with something. You may face so many struggles before you become successful in something. You will make many mistakes because that is part of the process of growing up but do not let those mistakes down you. If you have done mistakes you shouldn't quit trying it because once you have quit on it you will never make it right again. You will lose opportunities because of writing. Just try and try until you reach the things you want.

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I do have some general rules, like spending a good time analysing graphs to find potential entry points, but the most important rule for me is being in a positive emotional state such that emotions have minimum influence on my trading decisions. Also, I consider extremely important do not operate excessively, as chances increase of making an unsuccessful trade.

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Discipline is very important and having a routine to live better, but you must not be stressed or live badly, you must be very well rested and with your mind focused at one hundred percent, no emotions in the market, you must be rational and have all your senses awake at the time of executing an action that can cost a lot or little money, in this each one manages their risk according to their financial capacity, a disciplined person will have self-control and know when it is time to leave, they must dedicate Quality family moments and not dedicating a hundred percent to being in the market, resting very well, exercising and a balanced diet, that is all I hope someone will serve you


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Personally, I adhere to the goal that I set and that it lasts for months to reach the price to the price I want and stay away from speculation or trying to benefit from the daily differences in prices for currencies, so I never get nervous and I guarantee an acceptable profit in the end and finally I do not get out of a deal with a loss no matter what it takes and stick to the currencies of top 20 Only in my trading.

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On 11/21/2019 at 5:46 PM, Sumayya said:

I trade only little amount and that is when I already had my nap, at that time my brain is fresh and will concentrate more on trading only 

when you say little amount how much specifically are you talking about, arround how much do you order in a single trade.

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I suggest that when trading crypto always try to be patient. If you are new to this world of cryptocurrencies, then you need to gain confidence little by little. Before negotiating, check the purchase or sale price of your cryptocurrencies well, be careful of the wallet addresses, there are hacks that alter the addresses and people end up sending funds to unknown wallets.

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Always in Trading you have to have discipline and follow the rules that are imposed, if you stop following them yourself, all the negotiations that are made fall and become losses.

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Discipline is very important to become a good trader, always put limitations on how much you are going to trade per day and respect that plan regardless of the results you are obtaining, because if you are persistent and very disciplined sooner or later you will succeed. Discipline combined with a strong desire to succeed creates the best trading tool there is.

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Hi for sure you must not be drunk when trading or even slight sleepy so you must be fresh and got one good cup of coffee

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I always prefer the short term trading and choose the top 10 Crypto currencies and when price go low then I wait to come up.

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On 10/16/2019 at 11:07 PM, Scottsummers said:
On 10/16/2019 at 11:07 PM, Scottsummers said:

The main thing for me is to keep emotion out of it. And to be able to see what's going on without being distracted by feelings. Don't follow the crown and stick to your guns. If you set an order. Stick to it and don't increase your price just because someone else did. 

 

Holding up your feelings is rule number one of discipline trading in doing trading as it results into destruction of your patience which can result into burning up of your coins, so patient pays well in the crypto trading

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I think it would be better to assess yourself first so that you could become more comfortable to the decision you need to make. This kind of strategy would at least make you not to become hesitant to the situation that would stress you out in the process of thinking the best possible thing to do in that situation. The discipline that I am using in trading is observe first, in this way I could make an analysis to the market and to what transaction I am going to choose to deal with. This kind of process actually makes the basic principle to be more effective since you are trying to observe first , so that selling on high price and buying on cheap price would be easy to find in the market.

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Discipline in trading also goes with being careful, because your small mistake can flush out a huge account balance. My discipline will still be on the upside, greed is not in my arsenal. Being cautious is the key.

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On 10/16/2019 at 9:07 PM, Scottsummers said:

The main thing for me is to keep emotion out of it. And to be able to see what's going on without being distracted by feelings. Don't follow the crown and stick to your guns. If you set an order. Stick to it and don't increase your price just because someone else did. 

Emotion is the problem to so many traders and that is why what you should focus on is not getting emotional. When you are emotional you stand to blow your money. So I say it again don't be emotional 

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You must  have degnity and respect your business, mindful and have courage that you would one have successfully through your business these will help you control your emotions and settled your mind peace

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Here you must have a lot of discipline to avoid going into despair, also avoid trading failures, it is best to follow the plans without removing or not following what was planned, if that happens, trading would be gambling.

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There are several courses on YouTube about trading, you have to take advantage of the free and if possible prepare yourself when trading.

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