The 3 Mistakes most traders make from lack of discipline:

1 - Chasing losses - That’s deviating from your money management strategy. Because you
take a couple of losses and you want it back, so you overcompensate. This ends up being
this downward spiraling effect over time and it will completely wipe your account out.

2 - Panicking - Another reason why we don’t look at our trades during the day. You must
train yourself not to panic and just let the system do its job.

3 - Exit a winning trade too early - Its kind of the opposite of panicking. Both has to do with
exiting a trade too early. If you exit a winner by feel, it can happen that you miss the 500 pip
run, that brings you a lot of money.

The secret to great discipline is pretty simple:

You must use a system that tells you every time when you enter and when you exit
the trades. If your system is doing that, that means you are not doing it by yourself
and thats a good thing.

The key part that seems so easy, is just to never ever deviate from the system! But in the
end it is not that easy, because separating logic and emotions is hard to do. Even if you use
logic there is still a degree of emotion involved. But emotions are the killer of good decisions
making.

If you are trying to extract money out of the Forex market, you need to be at your best. But
when emotions come into play, you are not longer at your best...

Just think about the dumbest decisions you’ve done in your life. Im pretty sure, that emotions
played a very big part of that decision. Maybe you had a relationship where you stayed in
way too long and all that ended up as a huge time waste and you can´t get that time back...

Most of bad decisions depending on the emotional state. That’s why its so important, that we
never take emotional decisions when it comes to Forex. Emotions costs us a lot of money.
The only way that you are every time at your best, is sticking to your system and never
deviate from it.

Let the market do what it does!

Let’s say you have found a trade and you entered. Next comes the hardest part; Letting the
market do what it does! Its not easy, I know, but never interfere. Because interfering is like
not letting a proven system do what its supposed to do! If you do that, you trade with
emotions, so you fuck it all up.
The worst thing that can happen to you, is that you interfere and you are right with your
emotional decision. Because that justified this madness, and now you have a license to
trade by feel. This is the worst thing that can happen, when you play the long game. I know,
not looking at your trades during the day is tough to do, but if you do this, you can be sure
that you let the system run. This concept is crazy to a lot of people, because we got the apps
on our phone, we like to check it and see how our trades are doing every hour. Its not easy, I
know, but you don’t need to check how your trades running. You need to completely ignore
your trades during the day. Checking your trades one time a day is the best way to avoid
interfering.

If you are a person that does not have a lot of discipline in your life, you
must make some changes when you trade forex. Its normal that your
account goes up and down like a currency pair.