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Be Discipline!!!!!

Discussion in 'General Forex Talk' started by Geno88, Oct 12, 2009.

  1. Geno88

    Geno88 Recruit

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    Staying discipline and being patient is one of the things i really need to practice on......Today i had a lossing trade because of my lack of discipline and being impatient. I close my order early because i got a false signal but if i would have waited a few seconds that signal would have disappeared.....but this is a learning experience for me, it didnt blow my account....so all i can do is learn from it and continue my journey......

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    #1 Geno88, Oct 12, 2009
    Last edited: Oct 12, 2009
  2. Ricex

    Ricex Sergeant

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    That's unfortunate Geno88, happens to everybody from time to time though and part of being a human being. You are at least aware of it, recognise it and want to learn from it which is a positive outcome.

    Now try and analyse what spooked you and look into your money management to see if you could improve things there. Discipline is rooted in good money management.

    As far as I can make out from what you said, you bailed out of the trade before it hit your stop loss. When you place your next trade and the next after that make sure that you are happy with the amount of money you could potentially lose. Always look at it from this perspective.

    If your not happy with that amount, reduce your stake or reduce the stop loss until you arrive at what you find acceptable. There is for example no point in setting a 50pip stop if your going to panic and jump ship before it gets there.

    Good luck
     

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