Trading, be it in stocks, forex or options, is both an art and a science. It requires an innate aptitude coupled with an attitude that can develop through experience and self-discipline.
We are all gifted with natural potential, and once we recognize this and utilize it to its fullest magnitude, we will discover an immense sense of gratification as we realize the positive impact that we make to the world around us, while simultaneously profiting monetarily from what we enjoy doing.
We also need a method to deal with the madness that encompasses the trading activities, as self-discipline and established processes enable us to minimize the risk and maximize our throughput.
Unleashing Your Potential with Pure Positivity
It always begins with what added value you can offer and what progressive difference you can make to society at large with your innate potential – both known and hidden. Unleashing this potential to its fullest is something you should strive for when you choose to take up day trading as a career.
Most people switch over to the day-trading career from another profession. This transition happens when they realize that they are unhappy with what their professional life is offering them and therefore they cannot express the best version of themselves in that situation. And when they switch over to trading, they discover a passion that opens the door for unleashing their fullest potential.
There can be no constraint on what positive difference one can make today or yonder by enabling others to perform at their peak when one wholeheartedly gives back to society at large what one has learned.
Your intention is far more significant than your actions and words.
For a day trader, it’s not the “speculation” that is at the core, but it is the joy and love of doing work with a natural passion and enthusiasm that keeps building up the momentum of his fantastic journey. There is no way he won’t continue moving forward when he encounters stumbling blocks in his path.
When you start a new day with an attitude of joyfully embracing whatever may come your way with positivity, and enjoy learning lessons from every experience, on your journey to your next milestone, you know the zest you possess is priceless.
Most people do not consciously think about doing things to make the world a better place, and when someone does so with selfless efforts, his actions matter much more than what others could imagine.
Earning Your Daily Bread Through Self-Discipline
One cannot survive on positivity and intent alone. There is bread to be bought, and there are bills to be paid.
One must strive to reach a consistently profitable status and to achieve this; one must know and leverage the factors that lead to a trader’s ultimate success. Consistency in gainful performance in trading can be reached in multiple ways, and traders should find the right path to success by discovering what works for them predictably.
The most significant challenge that traders face is in managing their emotions. Inability to control human emotions is what prevents the vast majority of people from becoming successful traders in the long run. The most prominent among these emotions are fear and anger.
Newbie traders are influenced by old habits that subconsciously guide them in the way they make trading decisions. But they must let go of one shore to reach another. An effective way to discard old habits that are not relevant to their new profession of trading is to cultivate gratitude.
Once traders introduce gratitude into their current practice, it quickly becomes more than just a meaningless attitude; it becomes a deep-rooted lifestyle instead. This lifestyle is what constitutes to the sustenance of the beautiful communities of traders. They start contributing to the community and love the satisfaction that they derive from it. It feels as if everything is being given back to them daily.
Loving the attitude of gratitude leads to destinations far beyond the initial expectations. The power of gratitude lies in the inculcation of self-awareness and self-discipline of respecting the rules. In the beginning, this self-discipline can be used to buy bread and to pay the bills. And as the momentum builds up with time and experience, much more wealth can be attracted than thought possible.
The Five Strategies to Develop Self-Discipline
Making self-discipline as an ingrained habit requires a lot of effort, and the five fundamental strategies that lead to developing this habit until it becomes second-nature are:
- Goal-oriented: Identifying short-term and long-term goals and listing down what you want to achieve in your trading is a prerequisite because these goals become the reference points against which every achievement will be measured. Equally important is the perpetual focus on goals because when you think about your goals all the time, those thoughts eventually become your reality.
- Results-oriented: Goals are meant to be achieved, and result-orientation is all about executing on those goals. In trading, it translates into the continuous ability to stay in the game by being selective to trade only the highest quality setups. The critical aspect here is to be practical on sticking to the plan built for each trade regarding taking profit at targets or cutting losses.
- People-oriented: While processes and systems provide the tools, reaching goals also depends upon collaboration and cooperation with other individuals. These are people in your professional circle. The ideal forum for interacting with a broader group of people in the same boat or those who can assist you is a knowledgeable trading chat room.
- Health-oriented: You need to maintain a healthy body and a sharp relaxed mind to perform at your peak level. It’s a way to show respect to yourself by introducing habits of eating healthy foods in the right quantities, regularly exercising and getting plenty of rest. After all, fitness is vital when you operate a competitive arena such as the financial markets.
- Honesty-oriented: Honesty is the best policy. The one person to whom you must always be truthful to is yourself. Especially after that last losing trade, accepting the mistake of a mismanaged deal and having the courage to share that experience to learn from it, is the way to go.
In summary, while realizing and unleashing your true potential provides you with the self-gratification from having discovered and lived your life’s purpose, self-discipline is paramount in ensuring your survival through a consistent gainful performance in trading.