Before we can start being a consistently profitable trader and investor, we must be able to assimilate the mindset associated with being a successful person. Successful people have several common traits. One of them is self discipline.
Self-discipline is the ability to control one's feelings and overcome one's weaknesses. It is the ability to pursue what one thinks is right, despite temptations to abandon it. Self-discipline allows you to have satisfaction and happiness after completing a task or project. Self discipline allows you to focus your mind and energies on what matters until they are accomplished (family, relationships, goals).
Self-discipline is commonly believed as being harsh on yourself, being limited and restrictive in your life, but on the contrary, it is not. Self-discipline means self-control, which is a sign of inner strength- that you can control your actions and reactions that will lead you to an improved self for you and others around you.
It is what keeps you going when you face hard times, and makes bad times easier to get through. It gives you the power to stick to your decisions without changing your mind every now and then, as it structures your approach to your goals. It helps you to overcome addictions, procrastination and laziness.
It is a very tough road to the top (whatever top means to you). Not many people reach that place and only after understanding the importance of our lives and purpose we can begin the road to become self disciplined. We must see the light at the end of the tunnel.
To improve your self discipline commit to the following:
List your priorities. Decide which areas of life are important to you. List them including skills/behaviors that you must develop to improve in those areas. Develop a plan (if is not in writing, it is not a plan) to make the learning and execution of those skills part of your daily life.
List the reasons. Write down the benefits and the desired outcome of practicing the listed/skill/behaviors. Post your list/benefits/plan where you can see them daily. On days where your motivation is not at its best (on the top floor of the mood elevator or at least curious) reread your list. Have a disciplined approach to achieving your goals. One of the best ways to do that is by developing routines and systems that support your progress.
Get rid of excuses. Take time and write down every reason why you might not be able to follow through with your plan. Even if a reason seems legitimate you must find a way to overcome it, be creative. Challenge your reasons/excuses. Do not give yourself any reasons to stop doing what you must do. Only by being self disciplined you have the power to achieve your dreams.
H.Jackson Brown Jr. said, “Talent without discipline is like an octopus on roller skates. There is plenty of action, but you never know which way is going. Forward, backwards, sideways?” Progress is the missing element...
If you know you have talent and you have had a lot of motion but have not achieved your goals you may want to look at your self-discipline.
Self-discipline alone will not cut it. Commitment, focus, competence are other important ingredients on the road to success.
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