Using Self Discipline To Pay The Bills
When writing articles about trading, I love addressing what I think are the leading factors to a trader’s ultimate success in reaching a consistently profitable status. There are multiple ways to achieve consistency and our main mission is to help traders find the right path to success.
I’m confident that the inability to manage human emotions is what prevents the vast majority of people from becoming successful traders in the long run. In particular, fear and anger are the most prominent among those emotions.
To me, cultivating gratitude has been the best medicine against the bad habits I used to have as a newbie. Once I introduced gratitude into my current practice, it has quickly become more than just a meaningless attitude but literally a deep-rooted lifestyle instead. This is what allows me to be a part of this amazing community. I love contributing to the community. I really feel like I get everything given back to me on a daily basis.
Here I am explaining more about what this form of “love” means to me and why it goes much further beyond words. It’s all about self awareness and self discipline of respecting the rules. In the beginning, let’s work on making your self-discipline pay the bills. Soon enough, you may be able to attract more wealth than you can imagine.
5 Pillars For Implementing Self Discipline
Here are the five pillars to take note of while implementing self-discipline into your daily life:
- Goal-oriented means making a list of what you want to achieve in your trading for both short and long term. More importantly, it means to constantly think about your goals because those thoughts will become your reality.
- Results-oriented means executing on those goals. In trading, it is translating into the continuous ability to stay in the game by being selective in order to trade only the highest quality setups. Key aspect here is to be practical on sticking to the plan built for each trade in terms of taking profit at targets or cutting losses.
- People-oriented means recognizing that in order to reach those goals, collaboration and cooperation with other individuals can help. Here is where a knowledgeable trading chat room comes into play. Being part of Warrior Trading for the past few years has been life changing for me.
- Health-oriented means showing self-respect by introducing habits of eating less, consuming higher quality foods, regularly exercising and getting plenty of rest. In order to operate at our best on a competitive arena such as the financial markets, we need to have a finely tuned body. This is an aspect which is easily forgotten.
- Honesty-oriented means to be truthful. Especially after that last losing trade, accepting the mistake of a mismanaged trade and having the courage to share that experience in an effort to learn from it is the way to go.
Look, I know this isn’t easy. Once you can break the mentality which brings bad results we can light up the path for a brighter future. Whatever we want to become, we have to decide. I’ve made my decision. Have you?
“I think of discipline as the continual everyday process of helping a child learn self-discipline.” – Fred Rogers
See you in the chat room.