Everyone knows discipline is the key to trading. What I think most traders donât know is there is two types of discipline. One is the discipline it takes to get your ass off the couch to go to the gym when you donât want too. Itâs a one time event, once youâre their its done. Trading is like a diet, it requires discipline all day long. Every time you walk by Wendyâs or Pizza hut. Every time your in the checkout counter at the store. Trading is the same way, there are opportunities to over trade every second of the day. Anyway it took me about a year for this little thought, tell me your opinion. White
I think going to the gym (or doing some other form of exercise) requires the same type of discipline as a diet....a choice that is incorporated into your lifestyle and practiced on a daily (or other regular) basis.... Have to agree with you, though, that trading is a very disciplined activity.....whether it is THE key, or not????...other key factors may be required are sufficient capital, experience/training, conducive lifestyle, as examples...
Mental discipline vs. physical discipline are two very different things.I go to the gym to relieve stress after trading but it is almost a comfortable numb feeling, that's not mental discipline built up to 5 miles running using this same mental state, or lack of I should say. But how about picking up a calculus book (to someone who never got past trig) and systematically going through it to self teach yourself, that's the mental discipline that's needed for trading.Do this while friends and family call you a fool for even trying, but still succeed in finishing. That's the mental discipline that it takes to trade as a career, not just for 1 week,month,year.
One thing though is not to over-pressure yourself... If working out becomes a stress then it will affect your trading... Having the right mental condition for extra-curricular zoning is equally important as pre-zoning for trading...
discipline is mental, there is no "physical" discipline. Diet, Exercise and Trading have key inspirations to have that discipline. The first two are for looks and health and the third is for money. All three inspirations help you get laid.
Whether it's trading, losing weight, or pursuing any other goal, the most difficult part isn't in knowing what to do or how; it is in making the decision to do it and stick to it. http://www.elitetrader.com/vb/showthread.php?s=&postid=271933#post271933 Sounds pretty simple, doesn't it???
some may disagree (however, imo, your opinion is only valid if you are in great shape and know what that takes), but i think this all the time. i have lifted weights/exercised/counted calories every day for like 4 years. just like in trading, you have to get the knowledge of what to do. then you need to apply it. then you need to be consistent. although there are many differences, i think the whole process is similar. people have said that success is about ATTITUDE and i totally believe that. if you want to get in shape, you must have the right attitude. you must really want to change. if you don't want it, you won't keep at it and you'll fail. this can be applied to trading, or anything else. i am in perfect shape and i am proud that i stuck with it over the last few years. i will continue to lift/exercise/eat right for the rest of my life. i have the same exact attitude towards trading. i will just keep at it and do whatever it takes, not stopping. i know as long as i have the right attitude, i will eventually make it.