CMS Forex: "A very important aspect to the psychology of trading is the ability to create and maintain a trading plan. As a famous saying in the market goes, “if you fail to plan, plan to fail.”
Planning is closely linked to the discipline of a trader. Experienced traders know that discipline and a trading methodology are key to long term survival in the financial markets. It’s common for very new traders to make money on demo accounts, but many times these same traders lose when entering the live market because they fail to exercise discipline when real money is involved."
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