What does discipline mean in trading? It means you do what you are told at right time.
You should not deviate at all otherwise you could undergo serious financial implications.
It sounds pretty simple.
I came across many novice traders who initially told me that it was very easy to develop discipline in stocks, futures, forex, currency, emini, options or any kind of trading but when they sat in front of computer they found it extremely difficult to control their emotions.
Yes, it is very difficult to control yourself when you see wild volatility in forex trading.
Commodity trading is risky like forex but there are also numbers of ways to limit risk in futures or in currency trading.
Many brokers are offering very low margin requirements to trade emini futures.
You can trade emini for as low as three hundred dollars margin.
Do you understand the implications of low margin for high risk trading? You could be wiped out in just one day.
You could also do day trading in stocks with low volatility but you should have a sound strategy with better risk management.
Emini trading is very popular among traders.
You can make good money trading S&P 500 or dow futures.
If you focus only one trading instrument like emini futures with discipline, you can earn full time income trading only couple of hours a day.
It sounds very simple and easy but practically majority of traders fail.
The reason behind their failure is very simple that they can't control their emotions.
Instead of following rules, failed traders do trading on hope.
Every market offers numerous day trading opportunities.
Aggressive traders can benefit from currency trading provided they have spare risk capital and they are also equipped with staunch discipline.
Forex can be traded on extremely low margin.
Commodities' trading is also volatile and very risky and it requires generally higher margin.
Stocks, on the other hand, require more capital for day trading.
Stocks are also useful for swing trading.
You can trade stocks on a daily basis or hold them for few days as a swing trader.
You have a choice of highly volatile stocks as well s slow moving securities.
Now you understand you can increase your exposure to multiple trading instruments in different markets whether it is a stock market or forex trading.
The only key to success is that you follow rules at all times and accept loss as part of trading.