I've talked to thousands of traders over the years. And while about half of them were using a strategy that doesn't work or that isn't time tested, the other half of them were using a winning strategy but still weren't winning. Nearly all of those traders who were using a good strategy but still not making money had one problem in common-- they were lacking trading discipline.

Trading discipline is a pretty broad term, and there can be literally thousands of reasons why traders lack discipline, but over the years I've narrowed it down to a few key moments and issues that cause traders to lose their discipline or never be able to find their discipline in the first place.

Not Able To Accept Losing Trades: This is probably by far the most common of all the reasons. I struggled with this in my trading because I (somehow) went for 2-3 months when I started trading without a single losing trade. Many other traders have winning streaks, and then when a losing trade comes their way (which it always does) they don't know how to react or handle it. The trader then ends up altering their trading plan, changing their mental state, and becoming increasingly alert and nervous; Before they know it, they've deviated from their trading plan and have lost their trading discipline.

Not Having Confidence In The Trading Plan: This is the second most common of all the reasons. Many traders simply don't trust their trading plan or don't trust their ability to execute their trading plan properly. This is a huge problem as the trader then second guesses every single decision they make and every signal they get from the trading strategy. This is probably the best opportunity for the trader to step back and either learn a new strategy or step back and reinforce their current strategy. A great tool to help traders overcome this step is our Advanced Price Action Course which breaks down each and every strategy and concept into easy to understand lessons, charts, and graphs that help most traders regain confidence in a strategy and regain their discipline.

Environmental Problems And Personal Problems: This is the third most common of all the reasons and probably the most difficult for us to help you with. Many traders trade from their home, where they are constantly distracted by family, children, pets, television, chores, the internet, phones, and a whole list of other distractions. Even if you trade from home, it's critical to your trading success that you outline a time of day for your trading and stick to it each and every single day. During this time you cannot allow any distractions--just as if you were at a real full time job sitting in the office. Likewise it's important to check your personal problems at the door when your trading. This isn't the time to be thinking about the fight you were in with your wife, the crazy in-laws, or any other personal struggles you may be having. Trading requires 100% of your mental attention and if you don't give it that then you will lose your trading discipline.

I could truly write a book of all the different problems traders encounter that cause them to lose their discipline but the bottom line is this: If you've lost your trading discipline or if you're new to trading and never gained your trading discipline in the first place, it's important to get that discipline back as soon as possible to protect your trading psychology, protect your trading account, and protect yourself. If you're struggling with gaining your trading discipline, click here to contact us or give us a call at 1-888-612-6123 and we'll be glad to offer any tips, pointers, or resources that we have available.