I first started coaching professional traders several years ago.
Back then, I was obsessed with cracking the code on trading.
It was obvious that trading was something really difficult to master, and I wouldn’t rest until I figured out why.
After countless hours of research and in-depth coaching sessions with dozens of traders, I had finally figured out an important part of the equation…
I realized that what makes trading so hard is very similar to why so many people struggle with losing weight or quitting smoking.
All these activities require an extraordinary amount of discipline. And most folks struggle with discipline.
Things that require discipline tend to be hard and uncomfortable. And they often involve delayed gratification.
In other words, both trading and losing weight require a massive upfront commitment of energy, while the results take quite some time to see.
This just isn’t a deal that most people are willing to accept. Most people want quick results with as little effort as possible.
That’s why the few that are willing to put in the time and effort, and are ready to embrace the grind, will rise above the many that aren’t.
I know this sounds harsh, but it’s simply the truth.
The good news is that I’ve come up with a few tricks that can help traders figure this all out.
Free Trading Resources
Have you checked out Jeff’s free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career – at zero cost to you. Just click here to check it out.
My best tip is for traders to treat trading the same way they would a performance sport.
High-performing athletes tend to stick to a routine. They usually go to sleep at a certain hour, eat certain foods, and train at certain times of the day every day.
Good trading shouldn’t be all that different. Of course, you don’t have to maintain the same strict diet as a professional athlete, but the concepts are very similar.
For example, I tend to go to sleep at the same time every day. This makes getting up early much easier. I also look at the market at the same hours every day.
This approach gives me structure and gets rid of a lot of unnecessary thinking and planning that I would otherwise have to do.
I don’t have to wonder about when I’m going to scan the market to look for trades, this has already been decided in advance.
Having a structured routine doesn’t only take a lot of the guesswork out of my trading day, it also makes it easier to stay disciplined.
Every trader can benefit from putting some structure around their trading. Of course, not everybody can dedicate hours every day to look at the charts.
But in my experience, even the busiest traders can add structure to their trading routines. For instance, when I was working my corporate nine-to-five, I couldn’t trade during the daytime.
That’s when I decided to start trading the currency markets, which are open 24 hours a day. This allowed me to structure a trading routine for when I got home from work.
[If you have a busy schedule – or simply want to learn about the currency markets – check out my trading advisory right here. In addition to regular trade recommendations, you’ll receive detailed market updates and step-by-step breakdowns of each position.]
The bottom line is that having structure is incredibly beneficial.
Structuring your trading means spending less time on the logistics of trading—like being at your desk, having the right computer and software—and more on the actual trading process itself.
Do you have a trading routine?
Let us know your thoughts – and any questions you have – at [email protected].