Do it once.

Trading is about proving to yourself you can do things.  As you get over these barriers you realize that you were holding yourself back for no reason.  This will give you confidence to defeat the next one.

The first step is to recognize it.  This is where it is important to see outside yourself.  You can do this by writing, taking a break, talking about it, reading about trading, reading something completely opposite of trading, etc.

Here are a list of some of the barriers:

Making twice your goal.

Getting to your goal and then stopping.

Stopping when you are limit down.

Almost getting to your limit down and then goal.

Sitting at your station and doing nothing.

One of the hardest thing that I had to learn was to sit and do nothing.  For some it is to do anything. I thought I had to be trading at all times.  I had a crappy day and it was because I had over traded.   I sat at my station and prepared to trade.  I just didn’t take a trade.  It took me doing it once to prove  that I was capable of doing.  Once you do it once, you can BEGIN to see how it is helpful.

Remember, action creates motivation, motivation does not create action.

There are always barriers but we determine how big they are.  Do it once.

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16 Responses to Do it once.

  1. […] Sometimes you just need to do nothing.  (Trader Habits) […]

  2. Eli,

    This post is another good’un. 

    You say “Remember, action creates motivation, motivation does not create action.” and I’ve never heard this before. Can I enquire if this is your nugget of wisdom or where did you get it?

    Rich

  3. […] viaDo it once. | traderhabits.com. […]

  4. @grove_under says:

    Eli:
    Great blog, especially for people like me who are only several months into full-time trading. 

    I agree, your point about doing nothing is so much tougher than it sounds.  Overtrading is an easy trap to fall into, so my goal this week is to trade based on a focused and very selective trading plan, and begin building up my discipline. 

    That means I will be sitting around a lot, doing “nothing.”  But I accept that, because that’s part of the plan.

    Keep up the great posts!

  5. Anonymous says:

    Great post Eli.   “Action creates motivation, motivation does not create action.”

    Gold.

  6. Tarhini_smb says:

    awesome post Eli. One of those really small things that could do so much for someone. Love the idea, Ive noticed it really works 

    • Eradke says:

      People are too afraid to take the small steps because they do not know if it is worth it but you wont know it is worth it till you take the small steps.

  7. […] that you know you can do it, you have to do it.   I felt the need to rebuild my account.  Maybe it is human nature to destroy ourselves.  I do […]

  8. […] that you know you can do it, you have to do it.   I felt the need to rebuild my account.  Maybe it is human nature to destroy ourselves.  I do […]

  9. […] the mistake is.  You know why it is important to not make that mistake and understanding why.  Do it once.  And know that there is no such thing as a bad trade. For those that are already in a deep […]

  10. […] I always say, do it once, the good habits that […]

  11. […] that you know you can do it, you have to do it.   I felt the need to rebuild my account.  Maybe it is human nature to destroy ourselves.  I do […]

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