Joe, I appreciate the time you wrote this article, and it seems you have a sincere wish to help. But, you talk about this discipline like it's own entity in trading. I am sorry, but I have a big problem with the entire industry talking about discipline, and throwing around those "politically correct" terms that make every educator look good.
Here is the bottom line: No one is disciplined in approaching the markets! Why?because most traders don't have a methodology. Well, lets put it this way: most traders cant develop a winning methodology. If they do, and they see it works, whether in paper, or in rel life, then the "discipline" kicks in.
Ok, sometimes you over ride your own decision, and skip a trade, although the methodology tells to go long or short.
If over time you realize that you system is better than your gut... After a few trades, you decide to follow your system and apply it like a robot.
If you look well at the above 7 points, they all apply to people who trade on intuition and gut. What methodology tells you to add to a losing position? No Stop?
"trade what you see, not what you think." Sorry but people think...and what do they see? Daily chart chart is long, a weekly chart is short, so they make a bet. How could you not think?
I am a real trader Joe, and what I say is from experience.
Joe, again, I appreciate all the hard work you have done over the years, but this is also 2009. Human nature did not change, but technology allows you to implement things to test your methods which is entry, exits, drawdowns, odds, and risks. If one makes those work , and makes money you magically become disciplined.