Risk warning: Trading is risky. Your capital is at risk. Exinity Limited is regulated by FSC (Mauritius).
Risk warning: Trading is risky. Your capital is at risk. Exinity Limited is regulated by FSC (Mauritius).

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How to Practice Discipline in Trading Technical Analysis

Forex Educational Video Series

How to Practice Discipline in Forex Trading

Discipline is an integral part of any forex trading strategy. Without discipline, a solid trading system and proper Risk Management rules lose all of their value. The good news is that – with some willpower on the trader’s part – discipline can be mastered. 

This involves carefully studying the forex markets – especially the ones you are trading – and mastering your self-control. In order to master discipline, you must practice patience and be able to control common emotional impulses like greed and fear. In more technical terms, proper discipline involves having and sticking to a trading plan. Create a schedule for your trading and know what signals will make you enter or exit a trade. Ensure that you apply proper risk management by sticking to your stop loss and take profit orders. 

If you follow the rules without trying to “outsmart” the market, you will find out that discipline is a prerequisite for success.

Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.

Risk Warning: There is a high level of risk involved with trading leveraged products such as forex and CFDs. You should not risk more than you can afford to lose, it is possible that you may lose more than your initial investment. You should not trade unless you fully understand the true extent of your exposure to the risk of loss. When trading, you must always take into consideration your level of experience. If the risks involved seem unclear to you, please seek independent financial advice.

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