Two disciplines for trading

[henrythebest]

Buddhist monastic disciplines produce the power of meditation, the power of meditation produces wisdom, wisdom making you become a Buddha.

What are the disciplines in futures? (For individual traders) The two disciplines are enough. The others are not a problem after the two disciplines are done.

First discipline: Don't trade in too many varieties. Find a variety that suits your trading model. This is difficult for many individual traders, so many people fail. Trade in only one variety, do not look and care about other trading products. Can you insist on doing this for 3 years?

Second discipline: Don’t operate in too many trading models. Find one suits your personality, your fund size, and your mental capacity. In other words, the trading model needs to be concentrated on one kind. This is also difficult for many people. Some of them use model A this month, use model B next month and use model C in the third month. As a result, no one model is used well. Simple model should be repeated! Only when your own methods are consistent in long-term, you can understand the advantages and disadvantages of your trading model. One trick is enough to go all over the world.

When you constantly do these two disciplines for three years, somehow you gain the power to meditate. And then you gain endless wisdom, finally you will become a buddha with enough wisdom. Therefore, you wouldn’t struggling for profits in futures market.

When you gain success in markets after insisting single model in single variety for decades, someone may ask you how to earn so many RMB, you can smile and say "nothing magical, just practiced in this".

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[manggis97]

In my opinion we have to discipline with trading plan and risk management,  there are many trader loss much money because they don't have any risk management before start in to trading.  And learn about trend of market,  and use always stop loss for all open trading because the price action can be turn in to dump in a few minute.

[henrythebest]

In my opinion we have to discipline with trading plan and risk management,  there are many trader loss much money because they don't have any risk management before start in to trading.  And learn about trend of market,  and use always stop loss for all open trading because the price action can be turn in to dump in a few minute.

good point, i know some traders have no trading plan or terrible plan, they always stop loss, never take any profits. in the end, the countless of small stop loss kill them. a good plan i think it must allow some amplitude of price changes.

[bitbunnny]

It makes sense. To my opinion it's important to set the goal and strategy in trading and stick to it. If you don't have any kind of plan and you are changing trading methods and varieties in some moment you will get lost, that is for sure and you minimize your chances for profit.
But many unexperienced traders make exactly that mistake, they don't have the clear set goal and are making too much experiments so at the end they are not able to control the situation anymore and they end in losses.

[Xardasim]

First discipline: Don't trade in too many varieties. Find a variety that suits your trading model. This is difficult for many individual traders, so many people fail. Trade in only one variety, do not look and care about other trading products. Can you insist on doing this for 3 years?

Second discipline: Don’t operate in too many trading models. Find one suits your personality, your fund size, and your mental capacity. In other words, the trading model needs to be concentrated on one kind. This is also difficult for many people. Some of them use model A this month, use model B next month and use model C in the third month. As a result, no one model is used well. Simple model should be repeated! Only when your own methods are consistent in long-term, you can understand the advantages and disadvantages of your trading model. One trick is enough to go all over the world.

When you constantly do these two disciplines for three years, somehow you gain the power to meditate. And then you gain endless wisdom, finally you will become a buddha with enough wisdom. Therefore, you wouldn’t struggling for profits in futures market.

When you gain success in markets after insisting single model in single variety for decades, someone may ask you how to earn so many RMB, you can smile and say "nothing magical, just practiced in this".

Yeah, that could be true. We can apply it to others, except for cryptocurrency. Because you can find the right one here, but you can not go on with it until the end. Because great variability of prices also compels the choices to change. Even if you do not maintain your tactics, the market itself can reward you.

[Siren]

Crypto trading is not like selling and buying products in groceries or wet markets that has specific varieties cryptocurrencies has a lot of things to discover so how can you rely in single investments?finding trading materials is really hard so having an options is the best way,the only thing that matters in trading is the attitude,traders must not be greedy and shoukd be contented enough for small profits but consistent

[Capt00]

Crypto trading is not like selling and buying products in groceries or wet markets that has specific varieties cryptocurrencies has a lot of things to discover so how can you rely in single investments?finding trading materials is really hard so having an options is the best way,the only thing that matters in trading is the attitude,traders must not be greedy and shoukd be contented enough for small profits but consistent

That's the reason why some traders got failed in trading business because they want a huge profit or an instant profit without knowing the system of what they have invested. Crypto trading is not just as easy as what you've said, you need to have the deepest research in every coin you picked to trade and is just that worth it. However, the OP statement was very informative and applicable in trading.

[henrythebest]

trading can be difficult, risk is a unknown thing, but risk can be managed, i think this is the fundamental part of trading, god decided who will be rich, we just take care of ourselves being from bankruptcy.