Jan 09

How To Practice The Discipline Muscle

The way we think can affect our ability to create wealth and also our ability to create debt.Your brain is like a 7 year old child. Just like if you raise children and you give in to every tantrum you teach them that it is a good thing to have tantrums. Integrity and discipline are like a muscle that needs to be continuously trained. So when you say ‘no’ to taking a trade that is not part of your system the next time you say it you will say it without as much angst because those patterns in your brain get strengthened over time. And that will boost your confidence as you start knowing yourself as someone who has integrity and discipline.

Every time you give in to one of your own internal tantrums, you are making yourself a worse trader by creating your own behavioural disorder.

So if you are having an emotional tantrum, I want the donut, I don’t want to go to the gym, I want a real drink and not the nutritious green drink, then every time you give in to it, you are making it much more likely you will give into the next time you want to take a bad trade. Know what you want! Goal setting is critical for good decision making!

In the past I often felt compelled to ‘jump into a trade’ but then I stop and I ask myself: is that supportive of my goal?

The most successful people in life know what they want and act in ways that are consistent with what they want. They don’t just do what they feel like doing in the moment, they do what they said they would do.

So, I might want a triple decker cheeseburger and indulge in a whole block of chocolate! But when I give it some forethought, does over indulging in bad food fit any of the goals I have in my life?

I might want to ‘jump’ into the market and ride the runaway train, but is that congruent with my trading system and useful for my financial goals?

Discipline is not something that you do, it is a way of life. Your behaviours today will be influencing how your financial position, your brain, your overall health, your ability to enjoy life is 30 years from now.

Make decisions that fit all of your goals in your life!