Discipline: you do exactly what you promised yourself
Most people think that the problem in the market is a lack of information.
In reality, it is a lack of discipline.
Almost everyone has a strategy.
The plan too.
But only a few can stick to it when it starts to hurt.
Discipline is not a feeling. It is a habit.
Discipline does not mean being strong once in a while.
It means repeating the right behavior even when you don't feel like it.
not deviating from the plan
not increasing risk after a loss
not chasing the market when it is moving away
don't take "just that one extra trade"
The market won't punish you right away.
But in the long run, it will punish every rule violation.
The biggest enemy: "this time it's different"
This sentence has destroyed more accounts than bad analysis.
"Now I feel it."
"This is clear."
"Stop loss adjustment, it will still turn around."
Discipline means accepting that you don't have control over the outcome,
but you have 100% control over the process.
The market rewards consistency, not brilliance
You don't need to be the smartest in the room.
You need to be the one who doesn't make a stupid mistake at the wrong time.
Professionals:
they win little, but often
lose quickly and in small amounts
keep repeating the same thing
Amateurs:
changes the rules on the go
take bigger risks after a loss
are looking for the "holy grail"
If you can't handle discipline, the market will teach you... dearly
The market is the best teacher.
But the tuition is taken in money.
Discipline is what keeps you in the game long enough to
to even be able to improve.