A quick word on discipline
In trading, there is no one to be accountable to except yourself – in the end, it’s just you and your trading account operating in the market. There are no customers, likely no outside investors, no staff…it’s just you. This is very freeing, but also incredibly dangerous.
There is no one to place any constraints on your actions, nothing to stop you from completely blowing yourself up – the market presents unlimited opportunity, both for success and for complete destruction. There is no one to guard you from those downsides except you...
The amount of discipline required to be your own boss is massive, and most don't have it.
It's also a business of one...that makes it even harder.
Most don't have what it takes to be their own boss. Most aren't self-disciplined enough.
Internal discipline (ie self discipline) is a very rare quality.
Most have external discipline in their lives -- someone else forcing them to be disciplined: a boss, a company, etc.
You’ve heard the quote 'the pain of discipline or the pain of regret’?
Also applicable in trading is 'the pain of internal discipline or the pain of external discipline.'
Discipline in life will be forced on you one way or another. It can either be you doing that forcing, or someone/something else, but discipline will be forced. The world won’t give you anything otherwise.
I’ll have more to say on this in the coming weeks and months, but I’ll leave you with one of my personal trading rules:
"The market takes from the undisciplined and gives to the disciplined.”