With constant threads saying "I'm still finding a style that fits me" and "How can you become disciplined?" I thought it's funny how people compromise the lack of discipline by saying "This style doesn't fit me" But I may be wrong... it just might not be "Fitting" for them... I'm really not sure where the division lies but I'll start out by writing my opinion: "Fitting Style" is finding a methodology that syncs with your psychological setups. "Lack of Discipline" is emotional impulses like greed, hope and fear that overrides a rational action. Anyways... any thoughts?
I will preface my reply by saying that this is my opinion. Discipline= the fortitude to stay the course. Discipline is required to be successful in anything. Now as for style or method it's something completely different. There is another division between style and method. Two people can have the same method, and yet have different styles in practicing the method. There are many fundamental parallels between trading and martial arts. Frankly, there is no set of rules, but here's my breakdown: 1) Discipline = fortitude to stay the course 2) Method= The way in which the course is identified 3) Style = How the course is traveled I'd like to see some other opinions. Be well!
Discipline is not absolute. Many traders tried trading intraday and found that it is too messy to deal with, may find success in trading longer time frame. It is similar to a professional athlete who may be able to keep training for cross country runs with high discipline, but could not keep his/her discipline training for 400m runs. It is easier to have discipline with something matching your personality. To be able to trade against your personality requires more than discipline, you need exceptional determination too.
For some reason your post also makes a lot of sense if you replace discipline and determination... Here... Determination is not absolute. Many traders tried trading intraday and found that it is too messy to deal with, may find success in trading longer time frame. It is similar to a professional athlete who may be able to keep training for cross country runs with high determination, but could not keep his/her determination training for 400m runs. It is easier to have determination with something matching your personality. To be able to trade against your personality requires more than determination, you need exceptional discipline too. So determination is included in discipline...
That makes a lot of sense...I always wondered why someone could have the discipline to make a million dollars trading, but couldn't lose that 50 lbs of fat around his waste. I guess dieting doesn't fit their personality. Great post!
I never thought of that ... determination and discipline do indeed have so many things in common. Thanks for pointing that out!
Some say you can't be financially successful and slim at the same time. The good news is I have gone up one waist size, now I need to get some new slacks.