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You must develop a great deal of discipline in order to excel at any endeavor. Without discipline you are on a sailboat without a rudder to steer by. You must have the discipline to do the research to develop a unique trading methodology. Discipline will allow you to test your new trading methodology in real time, using a small percentage of your available funds instead of all your funds. With discipline you will always trade according to your trading rules. Without discipline you will be unable to master your ego, create empowering beliefs, have faith, and develop confidence in your abilities. The lack of discipline will prevent your skill as a trader from progressing. |
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Everyone knows what discipline is, yet few look forward to undergoing the training and mental exercise needed to develop a highly disciplined trading methodology. You must develop rules that you always apply throughout the rigors of trading. The market will present adversity and prosperity to you; through it all you must maintain the discipline that your trading rules and methodology demand. |
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Discipline is when you behave according to a set of rules (beliefs). Discipline improves reaction speed, enhances personal abilities, and allows courage to spring forth. Discipline also lends a state of order to what in many cases was chaos. Most people become disciplined by performing a task repeatedly. |
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Discipline occurs when you take the time to learn new references, and erect a set of rules that you will obey at all cost (convictions). After you construct these rules (which in many cases took considerable time), you will rarely think about how long it took to obtain them when you must behave in a disciplined manner. Discipline dramatically increases the speed in which a particular task is accomplished. This is because there is no internal debate or doubt. Again, using a driving example, you are exercising discipline every time you drive. You have the discipline to obey the rules and follow the safe driving habits that you have learned by repeated experience and training. You react to different driving situations without hesitation. Think back to how you learned your driving discipline, even in situations that at the time may have seemed unnatural. When most of us first learned to drive in the snow, we had been driving for only a short while, and it was a new experience. We were taught that if the car went into a skid, the correct response was to turn the steering wheel into the direction of the skid. When we first heard this, our natural response was ''Why?" We thought it was not logicalthe wrong response. However, by sliding around in a snow-covered parking lot, we learned that turning into a skid was indeed the correct response. By repetition, in a nonlife-threatening environment, we developed the disci- |
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