Impatience is one of the most common forms of resistance to the practice of good trading.
In a way, it represents your mind’s attempts to hold on, to solve a problem where there is none, thereby creating one in that process.
In short, here’s how: Every day, Do things that are HARD.
Run that extra mile. Read a few more pages. Take that cold shower. Meditate a little longer. Spend a little less time on your phone.
In everything that you do, Push a little harder!
Do your best, no matter what you do.
We’ve all done it before… we have a plan, we come in the market well prepared, but then, we end up behaving in ways that are destructive.
It hurts! So, naturally, we resolve to behave differently in the future.
The entrenched belief is that the way to change behavior A is to begin behavior B.
This is an extremely short and straight to the point guide to becoming an emotionally stable trader.
I won’t bore you with the same old platitudes – control your risk, don’t overtrade, follow your plan…
Those are all very important. But you all know that, right?
Ok, great… What else is new?
We all behave impulsively from time to time…
We talk without considering whether we might be hurting the person next to us.
We eat that last piece of pie even though we’re on a diet.
We’re driving, someone recklessly cuts in front of us, and so we feel an urgent need to lash out at him.
We buy and sell where we really shouldn’t, without thinking through the consequences.