Are you a disciplined or undisciplined type of forex trader?

child trader get money illustration
Child trader illustration
The classification of the type of trader will greatly affect the success in trading.

It doesn't matter if you are a scalper, day, or swing trader. It doesn't matter whether you are a technical or fundamentalist.

Here I will not distinguish the type of trader based on the time frame or the type of analysis you use.

Whatever time frame you use or whatever type of analysis you use, you can become a successful trader.

For the time being, I am fad and classifying the type of trader into 2 simple groups.

But the difference between these two groups will lead to differences in the likelihood of success.

Here are 2 groups of traders :)

  1. Disciplined Trader
  2. Undisciplined Trader

Let's start with each explanation:

Disciplined Trader

Disciplined traders, namely traders who will open / close positions under the trading system adopted and always do not violate the system adopted. 

For more details the characteristics of disciplined traders, namely:
  • Have and follow a certain system and follow it consistently
  • Do not rely on signals or analysis results of other parties in trading and only trade if the system it adopts gives a positive signal
  • Understand the emotional effects of trading and can control emotions
  • Understand that to be a successful trader requires experience and does not expect instant success
  • Understanding the importance of risk management, money management, and trade management
  • Don't just take the opportunity to only take short-term profits
  • Understanding the importance of trading systems and that trading using a system that is appropriate to the situation and conditions as well as its style is the main asset for success.

Undisciplined Trader

Undisciplined traders, namely traders who will open / close positions without trading system adopted or always violate the system when having a trading system. 

For more details the characteristics of undisciplined traders, namely:
  • Don't have a system, and even have a system, it tends not to obey
  • Trading based on emotions
  • Trading based on recommendations from other parties whether it's other traders, internet sites, forums and so on, whereas sometimes each of these sources does not use the same method
  • Do not use risk management, money management or trade management
  • Don't understand that traders' characteristics are different
  • As long as you see the opportunity immediately taken with little consideration, only expect short-term profits
  • Thinking trading is easy and is a fast way to get rich

Well, now try to review yourself. From the points above, which one is more likely to describe your character in trading?

As for myself, I am still an undisciplined trader. Because of what? Because I still often violate the trading system created.

Especially trading systems related to money management. Where I often violate and increase the number of lots :)

But unfortunately, I have hit by Margin Calls several times because of this :(

Well, because of carelessness (undisciplined) it will be very vulnerable and a big loss opportunity.

According to Professionals, being a disciplined trader does not mean you immediately get a consistent profit.

However, to become a successful trader you must first become a disciplined trader because there are no successful traders from a group of undisciplined traders.

If you feel you have not become a disciplined trader, it does not mean you have received a verdict for failing to become a trader.

It's never too late to change, right?

Your present self is a form of the past. Your future self results from what you are doing now. So.

If you still feel like a failure, just forget the past.

Don't dwell on the past. Change yourself from now on. And enjoy the results in the future.

Even if you later decide not to become a trader, discipline habits are still good to apply in everyday life, whatever your profession.

So it would not hurt how to make discipline as our daily habits.

For the discussion this time, this post is just for fun, hopefully useful :) Thank you.

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