You're a Product of Your Training
"Chasing what can't be done is madness. But the base person is unable to do anything else."
— Marcus Aurelius, Meditations
Today's meditation states that "an investor without discipline is not an investor--he's a gambler." The exact same can be said of a trader without discipline too of course. If we can't keep our discipline, how can we stick purely to potential trades that fit the rules/criteria for our strategies? Quite simply we can't! If our mind isn't in control of itself, we will become impatient and ill disciplined, breaking our rules. We must be aware of our own mindset and that we need to stick to what works for us 100% of the time, if we want to stand a chance of being consistently successful when trading.
By developing strategies and putting in place rules and criteria that must be met before we enter a trade, it means that we are training ourselves to create the best habits possible. This will replace the ignorance and ill discipline and we will behave differently when trading, because we will have the correct mindset. We must however do this every time that we trade, day in day out, rinse and repeat, so it becomes second nature to do what we plan to do, before entering a trade. The more we practice and execute our trades, the more confident we will become.
Our trades will then become a product of what we have trained ourselves to do.
Yes, "you're a product of your training!"
Food for thought maybe?