Discipline is one of the most important aspects about being a professional and successful investor or trader. All of those people that have ever been involved in trading and spread betting know how important this is. Some feel that discipline is only need once you have found a strategy that works for you and seems to have good returns. However, even small thing like developing your strategy are going to require that you have a little discipline.
May be you have decided that you are going to be a spread better that uses a strategy requiring you to sit in front of a screen for hours at a time. Would you have the right discipline to be able to do this? Are you going to be able to make a profit out of it? Will you have the patience to wait as the trades are coming in? This will all tell you whether you are in trading for just the excitement or are you really looking to make some money out of it.
Those traders that are already successful might want to stick with what they know, since it seems they have already found the discipline and strategy that is going to work out best for them. If this sounds like you, then you have already found a strategy that is going to bring you great returns in the long run. However, for those that are not seeing any excitement in their method of spread betting, you might want to control yourself a little and learn some discipline.
Moving along Ready and Steady
In order to move on to a higher level of performance, you will need to move beyond your personal zone of comfort. When you are able to do this, you will more likely to gain all of the rewards that come with working at a level higher than before. When you don’t stretch yourself and work towards higher goals, you are more likely to fail or even limit your ability for performance.
Spread betters will also need to learn how to stretch themselves in order to keep the trading interesting, and allow them to find new opportunity and possibility. You will find that reaching out of your comfort level; you are able to find better opportunities that are more rewarding. This is a method known as “expanding the mind.” If you cease to expand, you might find yourself bored with what you are doing.
Methods Of Stretching for Traders
There are many different ways that traders can stretch themselves further to get out of their routine rut or to seek more discipline. Below are a few examples of how a trader might stretch themselves based on their own preference and what they are most comfortable with:
- Trade only part of the day
- Take larger risks
- Take more trades
- Take fewer trades
- Try other markets
- Look into other methods
- Read books and listen to talks
- Improve environment and tools
- Engage in self-improvement
These are just a few of the ways that a trader could learn to stretch themselves further.
Elliot Howe is a professional spread better. He has learned over the years that discipline in spread betting is what gets him so far. In order to learn discipline, you must be willing to stretch yourself beyond the norm.