There are many must-have skills for any trader that help to make prompt and weighted decisions. A trader should know how to stay focused on trading and not get distracted by minor things. Intense concentration may lead to exhaustion, and that is why you should build discipline. If you enhance it, you will strengthen other aspects of a trader’s routine.

1. Find your weaknesses

Find out your weak points and start to work on them. Make a list and start with the most challenging things. I recommend you paying attention to your emotions first. Usually, newbie traders are controlled by their feelings and act under their influence by making compulsive and hastened decisions. Our top negative emotions are panic, greed, excitement, and disappointment. Here in IronTrade, we’ve collected the most frequent mistakes made by traders: closing trades early, opening them at the wrong time, choosing assets unwisely, and finally, making revenge trading. Create a list of your negative emotions and write them down. It will help you to understand that they are real and start taking measures to manage their impact.

Another issue that traders often face with is the lack of structure. It is absolutely ok if you do not know something (when to open/close a trade or how to use an indicator), but it is ok only as long as you work on it. We’ve already posted some articles about preparing a trading plan or setting up your own risk management system. Check them out – it definitely worth improving your trading discipline.

2. Work on your routine

When you realize what harms your discipline and understand what has to be improved, come up with a new routine and make sure you follow it no matter what. Stick to your intentions and think of what you’ve done to enhance your discipline.

Remember that discipline, like any habit, needs time to develop and will remain with you for a long time when developed. Remove bad habits from your life as much as possible and check from time to time how well you are doing. Keep track of your performance and notice changes! It will motivate you to move forward with your progress.

3. Indulge yourself

If you’re doing well, reward yourself. Even if you can not afford something big, just say something good. It is essential to stay stimulated.
If you did not work well, don’t get frustrated. We all are human beings, and discipline is a tricky thing. Just notice your mistakes and make sure you work on them in the future.