you are not bringing your bad habits to the trading table. Your moral
constitution, work ethic, and personal beliefs will mirror your trading
habits. If you are a rule breaker, then there is no point in trying to learn a
new successful skill that requires rules to be followed. If it is in your
character to break rules, then learning a new successful skill that can
change your financial future is useless. You will simply break the rules and
self-destruct.
I know a person who is habitually late to work. Despite the fact that his
employer requires him to arrive on time, he doesn’t seem to believe that
showing up on time is that important, which is why he has had to change
jobs four times in the past year.
As a result of his tardiness, he is repeatedly terminated. Yet he refuses
to change his behavior. He is more willing to go through the trouble of
searching for a new job than he is to change a simple, yet critical, destructive
personal habit. What I find with most unsuccessful people is that they
fail to see the importance of following rules that will lead to their success,
such as showing up on time. The truth is, changing little unproductive
habits makes a huge difference to one’s success.
People underestimate how important preparation is for success.
However, the reason they get locked into poverty and mediocrity—only
getting by—is that they show up to the battlefield totally unprepared and
unprotected. Their focus quickly turns from the cause they were fighting
for to survival and self-preservation. “I didn’t bring the proper armor to
fight this war, I didn’t think I’d be here this long, I don’t have enough food
to survive, I don’t have enough ammunition,” and so forth. With that
survival mentality, one’s attitude turns from that of a conquerer to that of a
crumbler.
To survive the coming learning curve and successfully transition to a
productive career trading on Forex, you will need to properly arm yourself.
Creating your personal constitution is like acquiring the best helmet possible
to protect your most important asset—your mind. Your mind is the
epicenter of your body and the control tower of your destiny.
You first need to identify, and perhaps define, who you truly are. The
following exercise will help you discover your personal constitution. Once
you have completed this exercise, you will be able to see what you
need to change in your personal life to become a successful trader. This
exercise is what I call a litmus test. (A Litmus test commonly refers to a
test done to determine substance.) Taking this personal litmus test
forces you to face the brutal reality of whether you are made of “gold” or
“fools’ gold.”
Read More : Follow The Rules In Your Trading System
