Maintaining Trading Discipline; Easier Said Than Done

The most important trait of winning trader is "DISCIPLINE"
Sounds simple. And everyone should find this sentence easy to agree with.
Basically, it just means following a specific trading strategy and not deviating from it. But people differ in terms of their ability to maintain self-control and discipline.

Discipline vs. Emotions

It is easy to maintain discipline with a trading strategy when that strategy is having a profitable run. But "all" strategies have times when they are not profitable. Whether for days, weeks or even months. This is a fact of trading the markets and accepted by profitable market timers as the price of "doing business."
However, when a strategy is going through an unprofitable period, maintaining discipline is something else again. A trader, seeing losses , tries to find a reason why exiting the strategy is a good idea. Anything to take away the pain.

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