What is trading discipline ?


Junior member
23 0
Van Tharp as you've pointed out is best known for his books, certainly not his trading. Just bear that in mind when following somebody's "wisdom" who has never actually traded for himself.

One of his clients was interviewed on the new Market Wizards (and he in market wizars). But I guess you know more than two people who have been interviewed there.



Junior member
23 0
I do not believe in people with preferences. Some of you can say to them self they do not care because they do not know what else I was going to publish .

Good buy.


I just want to apologize "with Tim" because I said here he have preference, but maybe he just have not seen what was happening.

I also know that he can not put on the said of the other user directly, because that makes it look as an unjust person, and he can not put on my side because that mean he will be losing an old user at the risk of a new user that he does not know.

Of course, I 'm not saying this for wanting to ingratiate to offer later holy grail, because as I said, I 'm not going to offer it, and, any way, I will also retire from this forum (to elete my user). So, the apology for said this message I am responding is because I said this too quickly (maybe he just was not in the forum in the moment, and is the most probably because he have not answered my message in a while), and I do not just delete the message because it has been a while and maybe other people saw that, so I must apologize (with a bit of shame) or people could think that he delete the message arbitrarily to hide something. Then, I apologize in public way to admit that I was wrong in this message: I admit I answered too quickly here.

Good luck.
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Junior member
18 1
discipline is one of the most important thing in life and in trading it is also required ....

There are many characteristics and skills required by traders in order for them to be successful in the financial markets. The ability to understand the inner workings of a company, its fundamentals and the ability to determine the direction of the trend are a few of the key traits needed, but not one of these is as important as the ability to contain emotions and maintain discipline.

Tutorial: Managing Risk And Diversification

Trading Psychology
The psychological aspect of trading is extremely important, and the reason for that is fairly simple: A trader is often darting in and out of stocks on short notice, and is forced to make quick decisions. To accomplish this, they need a certain presence of mind. They also, by extension, need discipline, so that they stick with previously established trading plans and know when to book profits and losses. Emotions simply can't get in the way. (To read more about trading psychology, see Master Your Trading Mindtraps or discuss at Trading Psychology forum.)

Understanding Fear
When a trader's screen is pulsating red (a sign that stocks are down) and bad news comes about a certain stock or the general market, it's not uncommon for the trader to get scared. When this happens, they may overreact and feel compelled to liquidate their holdings and go to cash or to refrain from taking any risks. Now, if they do that they may avoid certain losses - but they also will miss out on the gains.

Traders need to understand what fear is - simply a natural reaction to what they perceive as a threat (in this case perhaps to their profit or money-making potential). Quantifying the fear might help. Or that they may be able to better deal with fear by pondering what they are afraid of, and why they are afraid of it.

Also, by pondering this issue ahead of time and knowing how they may instinctively react to or perceive certain things, a trader can hope to isolate and identify those feelings during a trading session, and then try to focus on moving past the emotion. Of course this may not be easy, and may take practice, but it's necessary to the health of an investor's portfolio. (For more, see Understanding Investor Behavior.)

Greed Is Your Worst Enemy
There's an old saying on Wall Street that "pigs get slaughtered." This greed in investors causes them to hang on to winning positions too long, trying to get every last tick. This trait can be devastating to returns because the trader is always running the risk of getting whipsawed or blown out of a position.

Greed is not easy to overcome. That's because within many of us there seems to be an instinct to always try to do better, to try to get just a little more. A trader should recognize this instinct if it is present, and develop trade plans based upon rational business decisions, not on what amounts to an emotional whim or potentially harmful instinct. (Keep reading about this in When Fear And Greed Take Over.)

The Importance of Trading Rules
To get their heads in the right place before they feel the emotional or psychological crunch, investors can look at creating trading rules ahead of time. Traders can establish limits where they lay out guidelines based on their risk-reward relationship for when they will exit a trade - regardless of emotions. For example, if a stock is trading at $10/share, the trader might choose to get out at $10.25, or at $9.75 to put a stop loss or stop limit in and bail.


Legendary member
37,785 2,109
Wisdom ?

in the new world of the internet and most social media these days there are plenty of regurgitated posts , blogs and nice pictures where "publishers" share their wisdom and experience with us all ...............

wisdom on how to market your soul to how to live long and prosper whilst tap dancing on the lilypad of life ........free at first and then at some point the hit comes regarding greenback........

the wisdom mainly seems to come from 12 year olds who just did their first burp ........

so heres the truth of the matter ......................

get out there
make mistakes
get around the block a lot

that's it ...........


Svetlana Korj

Junior member
15 0
Trade discipline is the ability to stop in time. Do not make hasty action by emotions. Say to yourself "no" when you want to say "yes" and say to yourself "yes" when you want to say "no."


6 0
Don't second-guess yourself due to "the crowd." Let your plan (and your stops) do the second-guessing.

+1. And to follow your trading plan as well. Always cut losses when you have to.

Pat Riley

Established member
794 178
When I was startin out I used to play this game with one of the other traders, lovely lass, after hours. We were fixed income so we had ta pay each other for services which we always sold back for similar services to the other so was never out of pocket, but always in each others clothes if ya know what I mean. We used ta tie each other up with elasticated material because we were bond traders. Then we used to punish each other by using each others terminals for personal gratification, this is, selling ourselves a good clip at ridiculous levels. I like ta think this shaped me as a trader, but if I'm honest, it didn't - but it was fun.


4 0
Even though I'm more of a buy-and-hold investor, I can really enjoy to see stock markets go down. Since I'm still young, there's no sense in having markets at high P/Es. I'm a net buyer.

Since I can easily handle these drops without blinking, I would say I'm pretty disciplined :).
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