Skip to main content

A DISCIPLINED LIFE

“It’ s one of the most prevalent myths of our culture: self-discipline.”
—Leo Babauta

There is this pervasive idea that the successful person is the “disciplined person” who leads a “disciplined life.” It’s a lie. The truth is we don’t need any more discipline than we already have. We just need to direct and manage it a little better. Contrary to what most people believe, success is not a marathon of disciplined action. Achievement doesn’t require you to be a full-time disciplined person where your every action is trained and where control is the solution to every situation. Success is actually a short race a sprint fueled by discipline just long enough for habit to kick in and take over.
When we know something that needs to be done but isn’t currently getting done, we often say, “I just need more discipline.” Actually, we need the habit of doing it. And we need just enough discipline to build the habit.

You don’t need to be a disciplined person to be successful. In fact, you can become successful with less discipline than you think, for one simple reason: success is about doing the right thing, not about doing everything right.

The trick to success is to choose the right habit and bring just enough discipline to establish it. That’s it. That’s all the discipline you need. As this habit becomes part of your life, you’ll start looking like a disciplined person, but you won’t be one. What you will be is someone who has something regularly working for you because you regularly worked on it. You’ll be a person who used selected discipline to build a powerful habit.

SELECTED DISCIPLINE WORKS SWIMMINGLY
When you do the right thing, it can liberate you from having to monitor everything.

SIXTY-SIX DAYS TO THE SWEET SPOT
The right discipline goes a long way, and habits are hard only in the beginning. Over time, the habit you’re after becomes easier and easier to sustain. It’s true. Habits require much less energy and effort to maintain than to begin. Put up with the discipline long enough to turn it into a habit, and the journey feels different. Lock in one habit so it becomes part of your life, and you can effectively ride the routine with less wear and tear on yourself. The hard stuff becomes habit, and habit makes the hard stuff easy.

Once a new behavior becomes a habit, it takes less discipline to maintain.

It takes an average of 66 days to acquire a new habit.
Self-help circles tend to preach that it takes 21 days to make a change, but modem science doesn’t back that up. It takes time to develop the right habit, so don’t give up too soon. Decide what the right one is, then give yourself all the time you need and apply all the discipline you can summon to develop it.

BIG IDEAS 
1. Don’t be a disciplined person. Be a person of powerful habits and use selected discipline to develop them.
2. Build one habit at a time. Success is sequential, not simultaneous. No one actually has the discipline to acquire more than one powerful new habit at a time. Super-successful people aren’t superhuman at all; they’ve just used selected discipline to develop a few significant habits. One at a time. Over time.
3. Give each habit enough time. Stick with the discipline long enough for it to become routine. Habits, on average, take 66 days to form. Once a habit is solidly established, you can either build on that habit or, if appropriate, build another one. 

If you are what you repeatedly do, then achievement isn’t an action you take but a habit you forge into your life. You don’t have to seek out success. Harness the power of selected discipline to build the right habit, and extraordinary results will find you. 

Comments

Popular posts from this blog

Maximizing Your Profits with Scoring

SETTING YOUR MAXIMUM INTRADAY TRADING LOSS First things first: set a max intraday trading loss. There will be days when you just do not have it. Why do you think coaches pull their players when they are not playing well? They are more harmful on the field than off. When you are underperforming, you are hurting your team and your trading business. You need a system to yank yourself over to the bench. A stop loss is your answer. TRADING BASED UPON THE TIME OF DAY A good trader makes note of what time of day it is, when he trades most profitably, and adjusts his trading to fit such times. Your numbers at the end of the month will not reflect your true trading potential. Make the most trades with the most size during the trading periods that statistically are most profitable for you. Money saved during your weaker trading periods is money earned. Consistency The fact is that most trades you make will start working for you right away. But the new traders also hold stocks that are trading ag...

CAN A FIRM ALWAYS SPOT THE NEXT GREAT TRADER?

 No. But a prop firm can tell who has a poor chance to become a CPT. To be good at anything will take everything you have. Not having developed the skills to work hard is a turn-off. Trading is a skill learned by doing, not just by reading a lot, theorizing, or the faux art of “paper trading.” THE PROS AND CONS OF RECRUITING EXPERIENCED TRADERS Loyalty is a good thing to a point, but it cannot trump logistics and reality. losing money should really bother you. If I am negative three days in a row, I spend a long evening on my couch with a bottle of red wine and comfort food. As traders, we can all recite the memorable line from Wall Street: “A man looks in the abyss, there is nothing staring back at him. At that moment he discovers his character. That keeps the man out of the abyss.”  Traders don’t talk about how they want to trade, what they want to read about trading, or how they wish they could talk about trading. Traders trade, read about trading, and talk about trading.

Reading the Tape

 Dr. Steenbarger, aka the godfather of modern trading psychology, wrote: “My experience is that an understanding of (and ability to read) order flow is one important factor that separates the older, successful generation of day traders from the newbies who only know simple chart patterns and indicator readings.” continue working on the skill of reading the tape and to sell the stock on the offer when the tape showed weakness. “Reading the tape must be learned through personal experience and long observation.” keep in mind that nothing can top experience. Don’t give up. It is not always this easy to Read the Tape. But there are plays where it really is simple. And reading the tape will offer pattern recognition plays that you can exploit. Overcoming a Confirmation Bias We all fight confirmation bias. But it will harm our performance if we do not overcome it. Let the tape talk to you. And use online vehicles like StockTwits and your peers sitting next to you to gain second ...