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WHAT MAKES A TRADER A DISCIPLE TRADER?

disciple trader WHAT MAKES A TRADER A DISCIPLE TRADER?

A trader is someone who buys and sells, a share/option/futures/ any other commodities. He tries to earn profit while he trades. On the other hand, a disciplined trader, sticks to the strategies even when he incurs a loss. He studies the market and chooses the best trades. He is not worries about the rewards the trades would get him.

This is the key to be a successful trader. Only the disciplined traders can be successful.

Qualities of Disciplined Traders:

  1. Follows Strategies
  2. Trusts the process
  3. 3)Studies the market
  4. Moves along with the market

Follows Strategies
The trader before entering a trade, decides his strategy clearly and then enters the trade. His strictly follows the strategy during the trade. He exits the trade as per his plan and his strategy. He won’t exit if he thinks he has earned the maximum profit or fears of the market turning against him. This is the disciple that the trader has to train himself if he wants to succeed.

Trusts the process
The trader trusts the process that he undergoes, even if it results in loss. The process is what makes the trader understand the market. The strategies may go wrong once or twice in 10 trades. But the trader must not misunderstand the strategy due to the loss incurred. If the trader is sure that the strategy applied is applicable to the current trend of the market, then the trader can continue to use the same strategies in the future in similar situations.

Studies the market
The key to understand the market is to study the market. This includes studying the past market behavior, and also how the current market is working. The trader has to have adequate knowledge on the current news that could affect the market.

Moves along with the market
The successful trader does not assume the market. He follows the market. He doesn’t trade based on optimism, but on algorithm. This allows the trader to trade without getting his emotions mixed up.