What's the best way to train yourself in discipline? How do you keep at it and maintain self-control, especially during those times when your motivation isn't there? I'd love to hear any practical advice, habits, or personal stories that might help.
There isn't any low motivation. If it isn't worth having, why start?
Practice, Practice, Practice. Practice until it hurts, and then Practice more.
I mean, that's what doctors do to you. They even call it a Practice, because they are Practicing on you. Does anybody understand that they don't really know what they are doing, because they need to keep Practicing?
For training of your discipline in trading you have to start from training of your discipline in other fields of life because if you're disciplined in other fields of life it will definitely reflect in the way you approach the market. Starts from simple habits like becoming more organized, and exercising more discipline with food, with choices, with relationships, with habits etc. If you are able to imbibe the culture of discipline in yourself, practicing discipline in trading becomes easier and less stressful for you because discipline is already your thing. You will be able to follow your strategy and trading plan better to protect your capital and make profit, you will be able stay consistent and watch your emotions accepting losses where and when necessary.
Focus and stick to your goal. And then execute those clear plans and objectives with high determination and focus so that the rate of success will increase compared to those who are doing without thinking logically, if they what they did are effective or ineffectice.
Discipline is a result of constant practice until you start to unlock it and learn the highest form of discipline, even if it means enduring hardships and struggles first prior to achieving the best form of discipline training.
Before anyone steps in their foot into trading there is something that propels them to start trading and for you to make profits from trading or investing you must develop a personal strategy that would help you. To further more, you must also make research while trading this is what would guide you to a successful trading, and of course if your energy is low then you have to keep your courageous and think of those that are already making it through trading. Although, everyone must not have the same grace and luck while trading, again this depends on the types of trading you are venturing which would also determines your results, which many traders today do not know about trading before they venture into trading.
I would clearly agree on personal research, because it is the backbone to become a successful trader. There are professional traders and merchant traders who know the ins and outs and don't bother much about much analysis before venturing into the market.
These kind of traders also started from the bottom and as a newbie trader it is important to be reminded of the success stories of others and not just hope, but put in the work and effort to meet their standards.
One thing about trading besides research is also discipline, consistency, emotional control and a well defined strategy that must convey your risk management skills including financial skills.
Those who have self-control doesn't need motivation at first place and those who lack self-control should first work on their emotions to be better at self-control and also to improve their self-discipline. It takes time to discipline yourself as a trader but once you're disciplined then it won't be hard for you to make profit in trading.
You have to rewire your brain. It's very hard to do something when your motivation is low but believe me, simply write down things on paper and think like, you are forced to do them and there is no other choice. You think that you can't do it? If you think that, then imagine that someone points a gun on your head. What are you gonna do then? Of course you'll do what you are told. If this is not enough for you, then imagine that no one can live in prison but when they are forced to live, they simply live. You have to force yourself to do things and over time it will become natural to you and you'll automatically do it!
I don't think you can do anything if there is no motivation for it. You have to be motivated to do something successfully because there could be difficulties and hardships when you are doing something, you will surely feel uncomfortable for the time being because you are leaving your comfort zone to try and achieve something, and most people give up easily when they have to leave their comfort zone because they have been living that way for the whole life, and suddenly when they have to change, they can't accept it easily.
So, motivation is the first step, because it will keep pushing you to not give up halfway through the journey. The second thing that you need is focus. You can't achieve anything if you lose focus easily. When you want to learn or build consistency and self-control, you will need to learn to stay focused so that you don't easily get distracted, because if you get distracted easily, you won't be able to become consistent with anything.
Such good advice this is for overall training, not only for trading but also for your overall lifestyle. It isn't easy to change your overall lifestyle just to discipline yourself in trading.
For me, mistakes are the one thing that makes me disciplined, so my advice to OP is why not make some mistakes by not following the rules first? At first it's going to hurt, but mistakes will make you strong, and you can use those experiences to traumatize yourself next time you see the same scenario. Meaning you are learning from those mistakes and becoming disciplined in any trading decisions.
We should be working on our emotion while trading as that is the most common things that affects trading, although I understand finances are hardly to be managed while trading, as it just as gambling where you wouldn't know the out of the game. Perhaps; trading seems to be more better and when a trader knows what they are doing is able to navigate all things that concerns trading they would be that cool for them to gain more experiences and derives more knowledge from outside trading, and of course information is power anyone who wants to excel in gambling more be devoted to and hunger for materials that would boost your trading experiences.
The OP mentioned "when motivation is low," which is relevant when someone's initially high motivation is lowered by failed training results repeatedly .
I remember studying hard to master TA, but in practice, achieving good portfolio results or meeting targets was more difficult. It had a psychological impact, disrupting my ability to maintain discipline, leading me to conclude that trading simply wasn't for me.
Setting clear goals and having a good follow up system and then striking every phase that's a good way to approach a better training discipline, and then you tebd to build consistency by meeting up targeted plans and in that case I don't think your motivation tends to be low because what actually fuels a consistent discipline is high motivation so by that self control too is mastered to help limits failure.
For me, we can relate it to our habits. Just think about things you frequently do all the time - you become good at it, right? You are slowly mastering it.
So for me, this applies to such behaviours in trading, like building consistency and self control. It's more "Experience is the best teacher".
That's right, because without realizing it when we have implemented our activities with emotions of course our focus on the goal will no longer be directed especially with our activities regarding trading of course focus is one of the things we must do in order to avoid things that we deserve, even though sometimes we say we understand trading too much but I think we should not involve our emotions in the work we do every day especially in the trading field where we know that a little carelessness will cause very painful losses so that's what I can say maybe I haven't been in the trading field for too long but if the problem is losses I think not everyone likes things that don't guarantee increased experience.
Learn and practices. It is what you needs to do to have discipline. And related to trading, no stops learning because the market always moves. If you don't improve yourself, you will hard to follow the market.
You needs to learning about self control because trading can affects your emotions. If market moves to other directions and affects your emotions, you will confuses. But If you have skills, you can controls your emotions and searching for the way to get out from the worst situation.
Learning analysis, having good control, patience, managing your funds and other things is something that you need. Maybe more things you need to learn so there is no stop time to learning more.
Discipline is the simple word but many traders has been failed to managed their discipline and eventually they have been give up for crypto trading because cannot conquer their emotion and actually there are many things to training discipline but for trading the simple advices is you should know how to control your emotion because in my opinion this is basic thing to train your discipline besides that while trading you should set your own goal for the profit or loss and being consistent to run that but the most important is do not greed because this behaviour can trapped you to big loss
You did not mention what kind of discipline you need to maintain. I assume you are talking about maintaining discipline in crypto trading. The most important thing for a new trader is fund management. And the second is risk management. The combined efforts of these two things can make you a skilled trader. To maintain discipline in trading, you need to have patience and allocate a certain amount of funds without being greedy to get extra profits. Maintain mental stability while trading.
Self control requires keeping a distance from short-term trading risks and developing a trend towards long term investments. The habit of consistently saving Bitcoin will be one of the main ways to self control rather than trading in the hope of getting high profits.
Trade more, lose more, and gain more experience. Numb yourself with those losses, and you will learn discipline. Take note that those who are successful traders currently did lost money back when they're starting. They continued to trade, they learned from their losses, and learned from their experience until they know how to control themselves, and their emotions already. Having a working strategy will help you be disciplined as well. As long as you follow your strategy, being disciplined will follow.
If your motivation is low, just think of why you're doing it. If you want to make money in the future then that's your motivation. Many uses that as a motivation that's why when they lose money, they'll stop for a moment then they'll deposit again and trade. Building consistency in trading is kind of hard especially if you're constantly losing. You need to spend more money as you lose more of course. As for self-control, having a strategy will help you gain that one.
Practical tips? Habits? Experiences? Just trade, trade, and trade. If you lose, learn from it and adjust. If you win, put it in a journal. Don't jump on strategies as well. Use one strategy for maybe around a month or two then look at your journal if you win on using it or not. If you lost, that's the time you find another one. Trading is hard especially if you're a newbie because it will really test yourself, and how good you are at controlling yourself. Good luck OP.
You would be the only one could answer these things on which you are the ones will be able to make up these realizations and would act accordingly and be able to make out some adjustments. Best advice is that you should be learning all the things that you would be able to encounter along the way on which you will be needing up to consider those errors that you had encountered and make out some analysis through it. Rinse and repeat until you would be finding yourself that you do become that profitable or you are on the positive side. Although its not something that would be that so easy because once you would be able to encounter things then you would be needing up to consider out on making those adjustments. There are just that situations that you do feel like on giving up but of course it will definitely be taking up some time you would be considering it out.
Just go along the way and adjust accordingly. It will be that impossible that you wont be able to determine those problems then make out some solution or adjustment and make yourself that way more better along the way.