A Series of What Separates Consistent Traders From the Crowd:  #1 Discipline

Here we go, another token article expressing the importance of discipline in your trading habits. Blah, blah, blah! Cut your losses short; don’t add on to a losing position and never risk more than you can afford to lose.

The reality of the situation is that mastering discipline in your trading endeavors is much more than sticking to a couple golden rules. Having discipline is the heart and soul behind every trade executed as well as the work ethic that goes into the planning of it.  It’s one of the MOST important aspects that separate consistent traders from the crowd of dreamers.

I will probably always fall short of mastering discipline in my trading but it’s always a driving force. Discipline is what gets me out of bed at 5:30AM, four hours before the market opens. It’s what keeps me grounded when my trading emotions get out of hand, and it’s also the force that does not allow me to exit a trade before my target.

As a trader, ask yourself where your disciplinary skill set is. Would you compare your discipline style to a college party animal or a military soldier in boot camp? I can assure you that an emphasized focus on discipline will assist in every advantage for padding your trading profits.