How to maintain discipline

Some of you might benefit from a little help with 'Discipline' certainement ?

Trade based on a sound analysis of the market, develop a trading plan for each market/pair with specific trade entry/management criteria, and trade your plan.

KP

Disciplined trading, I know, can be hard for the beginners especially. Just be realistic and strategize according to your trading plan. Don’t be confused. A confident trader is always disciplined.

Keeping a trading journal where you detail your trades - and how you ended up making them - can be helpful with maintaining discipline.

In my honest opinion, the best way to maintain discipline is to create a system that is robotic in nature. This this system is completely back tested and understood how it operates. It needs to be systematic, emotion needs to stay out of trading. Trading should be boring, excitement leads to losses. Develop your system, practice it, then practice it more. The more practice you do, the more discipline you will achieve.

-Nolo

To my mind, discipline is one of the most important elements of proper trading mindset.Many traders fail despite the fact the have profitable strategies just due to the lack of discipline. If the trader is not disciplined enough to act in accordance with the rules, everything else means nothing because such trader would make decisions based on emotions such as fear or greed. That is why discipline is necessary for anyone going to become a professional trader.
By the way, it is much easier to be disciplined for professional traders working in prop trading firms. If they would make something wrong or violate the rules, they will be forced to trade on demo for several days to learn the mistakes. Accoridng to the internal rules of such companies, it is not a problem if trader loses (even a lot of money) due to unexpected even or mistake in a calculations, but there is a zero tolerance to breaching the discipline. At the same time, retail home traders have to deal with discipline issues themselves without interference of mentors and team members. That is why it is so great to join various trading communities to share trades and experience, and also to solve the discipline issues together. If, for example, the trader would have to demonstrate all his trades and explain the reasons of each action like opening position or closing it.

Self discipline is not a trait that you are born with. It is not a talent exclusive to an elite few either. Anyone can practice self-discipline, but it is not as easy as it sounds. Having a specific goal is the first step towards developing self-discipline, as it will give you the motivation to get through trading each day.

Well said! If I might add something, it is a skill that you have to nurture. And as you grow, it will become easily adapted.

practise meditation to clear your thoughts and control your environment.

There's nothing to maintain: when you profit instead of losing discipline comes automatically.

To be honest, I needed some restrictions to get there, low leverage.. suffering, meditation, a bit of isolation, austerity... but I'm finally able to just execute a stupid plan.

btw, I'm aware of the risks.. thanks.

Discipline in our business is if not everything, it's a lot. All because it is your focus and concentration that helps you always find a way out of this situation and act as competently as possible. It doesn't matter how much time you spend in the market or if you can consider yourself a professional if you understand that you have a specific plan of action. I would also refer to your emotional state in the concept of discipline, because when you constantly give yourself time to relax and care, you take your trading time which could bring you money and new experience. The market is moving on its own and it won't wait for you to be ready. Maybe I think too strictly, but this approach has become for me a symbol of serious work and good earnings and I will not be able to work any other way.