Loading ...
Discipline in daily life helps us stay focused on reaching our goals practically while sticking to the relevant rules. This allows us to overcome obstacles pushing us to newer heights.
Similarly, imbibing discipline in trading means that traders stick to well-known rules and maintain a practical approach towards achieving their financial goals objective.
Developing disciplined trading with objectivity calls for mastering the art of managing powerful emotions such as fear and greed. Fear Of Missing Out (FOMO) in trading is an important part of trading psychology, but sometimes Joy Of Missing Out (JOMO) is a better emotion to have than FOMO.
However, it is easier said than done! Discipline in trading must come from within. The trader must have the willpower to stay firm on the decided plan and follow the trading strategy religiously.
Reckless Trading VS Disciplined Trading
| Reckless Trader | Disciplined Trader | |
Approach |
Has a casual approach towards trading, thinking it is easy and every order would lead to profits | Considers trading seriously and sets realistic goals |
| Avoids following a systematic strategy or a planned approach | Trades methodically and follows the plan consistently | |
Research |
Whimsically places orders based on random tips/advice/recommendations without any due diligence | Makes informed decisions backed by research and sufficient trading practice on demo accounts |
Risk Consideration |
Does not implement risk management tools to protect the portfolio | Is mindful of the risks at hand and adopts risk management tools to protect the investment portfolio |
Realistic |
Tends to overtrade, which could result in heightened losses | Is aware of the law of averages and does not panic when trades go otherwise. The disciplined trader understands that not all orders would result in returns |
Consistent Learning |
Does not upskill and remains unaware of advanced tools, new strategies required to stay ahead of the curve | Understands the importance of new trading strategies and keeps upskilling to stay aware of the current circumstances |
Emotional Quotient |
Panics with every order placed and obsessively watches his holdings | Has a better hold on emotions as the trader understands the influence emotions like fear and anxiety have on trading |
| Trades with anxiety and tends to stay clueless of what’s going on | Is watchful of the orders placed but does not obsess over it | |
Patience |
As the trader is on the whims of market movements, high chances the trader might incur losses higher than the amount the trader can afford to lose | Understands that with patience, experience and consistency comes success |
You are the best judge. Which category do you fit in?
To learn more, speak to us today
#InformedTrading with Century Financial
Century Financial has been at the forefront of financial investment in the region for more than three decades and has a profound understanding of the mindset of investors, making it the pioneer of the global financial markets investments. Century has always emphasized the idea that knowledgeable investors often make better judgments.
New opportunities and new developments are everywhere in the world of investing. In order to seize these possibilities, you must be quick and flexible.
With our in-depth market research, round-the-clock alerts, wide array of investment alternatives, and the world’s best trading platform, Century Financial keeps you one step ahead of the competition.
So that when it comes to making the most of financial opportunities, you have the knowledge to make the right call and the confidence to go through with it too.
#Youareindependentbutneveralone. #InformedTrading
Century Financial Consultancy LLC (CFC) is duly licensed and regulated by the Securities and Commodities Authority of UAE (SCA) under license numbers 2020000028 and 2020000081, to practice the activities of Trading broker in the international markets, Trading broker of the Over-The-Counter (OTC) derivatives and currencies in the spot market, Introduction, Financial Consultation and Financial Analysis, and Promotion. CFC is a Limited Liability Company incorporated under the laws of the UAE and registered with the Department of Economic Development of Dubai (registration number 768189).
CFC may provide research reports, analysis, opinions, forecasts, or information (collectively referred to as Information) through CFC’s Websites, or third-party websites, or in any of its newsletters, marketing materials, social media, individual and company e-mails, print and digital media, WhatsApp, SMS or other messaging services, letters, and presentations, individual conversations, lectures (including seminars/webinars) or in any other form of verbal or written communication (collectively referred to as Publications).
Any Information provided in this publication is provided only for marketing, educational and/or informational purposes. Under no circumstances is any Information meant to be construed as an offer, recommendation, advice, or solicitation to buy or sell trading positions, securities, or other financial products. CFC makes no representation or warranty as to the accuracy or completeness of any report or statistical data made in or in connection with this Publication and accepts no responsibility whatsoever for any loss or damage caused by any act or omission taken as a result of the use of the Information.
Please refer to the full risk disclosure mentioned on our website.
Regulated by SCA
Century Financial Consultancy LLC
Reach us:
-
Dubai
6th Floor, Building 4, Emaar Square,
Downtown Dubai, P.O. Box 65777,
Dubai, United Arab Emirates -
Abu Dhabi
Office 3014, 30th Floor
Tamouh Tower, Building 12, Marina Square,
Al Reem Island, Abu Dhabi - +971 (4) 356 2800
- info@century.ae
Disclaimer: Trading in financial products carries risk. Trading in leveraged Over-The-Counter (OTC) Derivative products (including Contracts for Difference (CFDs) and spot foreign exchange contracts) involves a significant risk of loss which can exceed deposits and may not be suitable for all investors. OTC Derivative products / CFDs are complex financial instruments that do not confer any claim or right to the underlying financial instrument. Transactions in these instruments are very risky, and you should trade only with the capital you can afford to lose. Before deciding to trade on these products, you should consider your investment objectives, risk tolerance and your level of experience. Accordingly, you should ensure that you understand the risks involved and seek independent advice from professionals, if necessary.
Century Financial Consultancy LLC (CFC) is duly licensed and regulated by the Securities and Commodities Authority of UAE (SCA) under license numbers 20200000028 and, 20200000081 to practice the activities of Trading broker in the international markets, Trading broker of the OTC derivatives and currencies in the spot market, Introduction, Financial Consultation and Financial Analysis, and Promotion. CFC is a Limited Liability Company incorporated under the laws of UAE and registered with the Department of Economic Development of Dubai (registration number 768189). CFC has its registered office at 601, Level 6, Building no. 4, Emaar Square, Downtown, Dubai, UAE, PO Box 65777.
Any content available on our website is presented solely to provide information and educate visitors. Under no circumstances is any of this content meant to be construed as an offer, recommendation, advice, or solicitation to buy or sell securities or other financial products.
This website's information is not intended for use by anybody residing outside UAE or where such use would violate local laws or regulations.
