Correct. It's things like this which are your trading edge. Edge does not necessarily mean you have some super secret trading system, but the way you approach trading with discipline is a huge advantage.
Re-thinking "Discipline"
- Thread starter formikatrading
- Start date
I agree. It is all to do with motivation. Strong reasons generate strong actions. Each time you do something you don't want to do your will power grows and the positive results provide additional motivation till one fine day that "something" becomes a habit you "want to do".
Discipline starts off as something you don't want to do but turns into a habit you take pleasure in doing.
Motivation is simply the "strong desire" to do something. But it can be a tricky animal. There is positive motivation and negative motivation. Some of the greatest things ever achieved were done so through negative motivation. Discipline on the other hand is what keeps you on track to reach your desired end. Motivation without discipline is like a steam engine train that has the water ..has coal...but no one to do WHAT needs to be done, HOW it needs to be done, WHEN it needs to be done. That water has to be heated. Someone has to shovel coal and at the precise time to keep that train on track. The engineer can desperately want the train to get from point A to point B but without discipline it ain't gonna happen.
Strong reasons or desires ALONE don't ALWAYS generate strong actions. Most of the time they simply don't. Ever seen anyone excited and motivated almost to a frenzy but they never did diddly-squat. Motivation WITHOUT discipline is wasted desire..energy..and excitement. That is, much ado without any acomplishment.
It takes a synergy. Motivation + Plan with goals + Discipline = Achievement. The motivation can be positive or negative. The plan is the details. The discipline is the execution. Most people who never accomplish their goals fail because the "process" broke down in one of these areas.
It starts with a motive. But motive without a plan...well you get the idea. A motive with a plan but no discipline....well you get the extended idea.
As traders we are motivated to learn trading with the goal of making money. But between this motivation and the achievement of this desire comes plans and discipline. Most never get beyond the motivation. Most fail.
Why am i here typing this before 5 a.m.? Because i have a desire..a motive..why are you on ET? Why do I read ET posts? Why do you? The motives may be varied but they are there. There may be primary AND secondary motives.
An example of all this. For instance, we all know that part of our plan is to educate ourselves as concerns trading. But most are not really disciplined to do it. They just want some magical indicator to dish out the $$$. Take, for instance, Al Brooks books on price action. Hands down the most thorough treatment of price action out there. But most simply don't have the DISCIPLINE to wade through his works to internalize the concepts, then practice those concepts, then use those concepts in live trading. They read a few dozen pages and determine this is hogwash. Circle talking. Their initial impression is " it cannot be understood" so they falter..stumble...and leave the scene. They never "push through". They have no discipline to understand and pull out and practice the concepts embedded in Brooks writings.
ROFLMAO............
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Now the "mind" with all the psychological implications embedded therein is a "horse of a different color". It is the greatest asset we have as traders. It is also our worst enemy. It too is a tricky animal. Generally lazy..and looks for shortcuts..Forms faulty biases and many times steers us upon an undesired path that leads to undesired achievements...like "i managed to blow my account out again!" Doing samathing. Same mental or cognitive errors all leading to same end.
The "will" is our choir director. Because of our will we can have discipline. But, our will cannot stop our minds from generating thoughts. We must learn to get perspective on the thoughts our minds generate. Your thoughts emanate from your mind but they are not you! But they can motivate you and can provoke your emotions and tease your will to act. Once you act your are headed to one end or the other. Your "will" puts you "in gear" so to speak.
Sometimes..actually most of the time ....your mind will lead you down the wrong road as pertains to trading. However, without it we cannot trade. With it we can become better traders. It depends on our we view it, use it, and manage it and the myriad of thoughts it generates.
Do not think of a red juicy apple. See, I told you not to but you just did anyway. You cannot control your mind with your will. But you can learn to manage it's incessant thoughts.
The "will" is our choir director. Because of our will we can have discipline. But, our will cannot stop our minds from generating thoughts. We must learn to get perspective on the thoughts our minds generate. Your thoughts emanate from your mind but they are not you! But they can motivate you and can provoke your emotions and tease your will to act. Once you act your are headed to one end or the other. Your "will" puts you "in gear" so to speak.
Sometimes..actually most of the time ....your mind will lead you down the wrong road as pertains to trading. However, without it we cannot trade. With it we can become better traders. It depends on our we view it, use it, and manage it and the myriad of thoughts it generates.
Do not think of a red juicy apple. See, I told you not to but you just did anyway. You cannot control your mind with your will. But you can learn to manage it's incessant thoughts.
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Yes, discipline can most certainly lead to a habit that in itself gives one pleasure and a sense of achievement and even contentment. On the other side of the coin, some habits can lead to boredum and mediocracy.
Discipline is just one of those things you either have or you don't throu years of habit. It is very much like a personality trait not a skill that you can easily implement. I think it is a waste of time for someone without discipline to try to become a discipline person. If it's unnatural to them they'll just end up going back to becoming what they feel is natural to them.
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Tony Robbins is just a motivational speaker.I see you have no designs on being the next Tony Ribbons
