Many times, the things that we want to achieve are not necessarily difficult or complicated, but just require consistent effort. Doing even the smallest thing every day can add up to huge results. But often take these baby steps for granted and we tell ourselves that we will “do it tomorrow.” Before we know it, six months have passed and we have not accomplished anything.
I am totally guilty of this too.
But how can we solve this? I have been thinking about this for awhile and at the core, it really comes down to forming the right habits. The hardest part is getting started. Once the momentum is built, it is much easier to keep it going and even take it to the next level.
How do we form these valuable habits?
How Good Habits Are Formed
Over the years, we either consciously or unconsciously form habits in all areas of our lives. Sometimes the habits are positive, like brushing our teeth…and sometimes they are harmful, like eating junk food.
Good or bad, they are formed by constant repetition. We do them so often that they become deeply engrained in our subconscious. Many times, when we are tired or not paying attention, we perform these habits automatically.
A good example might be starting to drive to work on a weekend, even when you want to go to the park. I have done this one before. Since you drive to work so often, as soon as you start heading in that direction, if you are not paying attention, your subconscious takes over and you follow your habit.
Zen Habits has the best article that I have read on how to create new habits. You should check it out immediately after you finish reading this post.
If you want the short version, then the basic idea is that you need to start small and actually do as little as possible in the beginning. He recommends 5-10 minutes.
Yup, that’s it.
Even though this might not seem like enough to actually make a difference, it is huge. You have to start with something that you will actually do.
Many times, we do not do something because we feel overwhelmed at all the things that will be involved. If we give ourselves permission to stop after a few minutes, it really takes the pressure off. This concept has personally been a huge help to me.
The second major point is that you have to figure out what your triggers are that get you to do bad habits. Then replace the bad habit with the good habit you want to form. Just be sure to use the same trigger. Anthony Robbins also has some excellent exercises for forming new habits, so you should check those out also.
Finally, you should also find a way to reward yourself each time you complete the action that you are trying to make a habit. Anyway, click here to read the complete Zen Habits article.
Let’s Work Together
I am currently using an app to keep track of the good trading habits that I want to form. If you would like to participate, feel free to join in. Lift is available for both iPhone and Android and it is totally free. After you download the app, you can search for the habit that you want to develop.
I am currently participating in the following trading related habits. The natural tendency might be to focus on building habits like watching the news or taking a small trade every day. But I feel that these two habits are the best way to focus on the process of trading and are the highest leverage activities.
- Journal Trades – For this habit, I am journaling my trades every day. If I have not taken any trades for the day, I’m journaling setups that happened and how I would have traded them.
- Backtest – I commit to doing at least 1 hour of backtesting every single day. This also includes adding material to The Currency Alliance on a daily basis. It doesn’t matter if it is just adding system ideas or actually testing, I really believe that it can be a very beneficial community.
If you are also interested in other habits that I am a part of, then you can also check out:
- Meditate – I meditate for at least 5 minutes every day. It helps me clear my head and concentrate on what needs to be done. I’m working my way up to longer times, but I have been pretty good, logging 18 days in a row so far.
- Review Goals AM – I have been downright terrible at reviewing my goals on a regular basis and that is one of the reasons that I have not achieved a lot of them. So this habit will involve me reviewing my long term and short term goals every morning and imagining them as completed.
Now It’s Your Turn
Although this is just the beginning, I have outlined how I am going achieve my goals for this year, how about you? What are you going to commit to? Do you have any thoughts to add?
Write it down in the comments below.
Let’s do this together!
via:http://www.tradingheroes.com/lets-form-positive-trading-habits-together/
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