In my regular scanning of what other bloggers are posting I came across a post on the Zen Habits blog which I think traders should give a read. It’s entitled 6 Small Things You Can Do When You Lack Discipline. Discipline is an often discussed subject where trading is concerned, especially in the “I can’t seem to stick to my trading system” way. That’s why when I first came across the entry I knew it was something I needed to share with my readers here.
To provide a quick view of the key points, here are the six things:
1. Forgive yourself.
2. Realize that discipline is an illusion.
3. Focus on motivation.
4. Make it easy.
5. Focus on enjoyment.
I particularly like #2, though all of the points are good. In particular, #4 I think speaks to something I have spoken and writtenÂ about frequently, and Brett Steenbarger recently wrote about as well – Are You Playing to Your Strengths?Â Discipline becomesÂ basically aÂ non-factor when you trade in a fashion which suits you. It becomes much easier.
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About the Author
John Forman, author of this blog, has traded for more than 20 years, is a professional market analyst, and authored The Essentials of Trading. He is an active participant in trading forums, consults for trading related businesses, as published literally dozens of trading articles, and has been quoted in a number of books and in the media.
** See John’s full bio.