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The Way to Trade: Discover Your Successful Trading Personality by John Piper

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Chapter 6: DISCIPLINE

The next level of the pyramid is discipline. It is said, and it is true, that without discipline you will be unable to make any progress. The reason is simple and comes in a number of guises. First, without discipline you will be unable to follow your own methodology, you will, in effect, have no methodology. Thus you will be doomed to trade emotionally, and that is not a winning approach. Second, you will not have the self discipline to overcome your own emotions and instincts. So in some ways these two factors overlap, but the second is far more pervasive than simply in operating your methodology.

The big question ...

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