When it comes to forex trading (https://www.independentinvestor.com/forex/) there are always going to be winners and losers, it's part of the game. But what makes some do well while others quickly lose and run? One statement that holds true in the forex world is that the winners know how to "pace themselves" while the losers have no discipline. That's right; the one thing that I believe separates the Forex winners from the losers is discipline. Anyone can have a good trade, here and there. Anyone can make a string of good trades, but the real test is how well they exhibit discipline in their trading. I'll explain...

I really believe that discipline is one of the most underestimated characteristics in the trader's investment experience. There are probably many different reasons why, but I think a main reason is that they don't think they will ever have a period (or string) of losses. My friends, the sad reality is that all traders do, novice and experts, and staying the course is the key, but is very hard. Anyone who has ever declared that it is easy obviously hasn't traded forex (or any market for that matter). Being a "winner" in forex isn't a sign of your success, you must learn to survive trading during these periods of loses.

I know that I might be "preaching to the choir" on this one, but I just want to be sure that you understand that you are going to need discipline because you WILL face a period of losses, I don't care what system you are using, you will experience it. The hardest part about this sad reality is that you will have to learn to keep going even when the Market makes you look like a fool and decides to hand you some losses. My advice to you (novice or experts) is that you MUST have enough discipline in order to stay on your plotted course until you eventually hit that home run; otherwise it would have been better for you not to have ever had a system at all.

Now please don't get me wrong, you will definitely need a good Forex trading system; however more than that, you will also need the discipline to apply it. Here is my final bit of advice, and I say it all the time. If you don't have the needed discipline to execute your trading signals in line with the rules of your system, YOU WILL LOSE, no ifs, ands, or buts about it.

When I was younger, I learned that great rewards come with great risks. To most, forex trading looks quite easy, but of course it's not and why would it be when the rewards are so big? Once you understand that success will not just fall into your lap, you'll be halfway there. Then, if you accept that concept, then you will have to have the willingness to learn and apply yourself with discipline. My friends, your efforts will be well rewarded, trust me.