Standards & Habits

Your Trading Edge Mastered

Setting Standards

“If you don’t set a baseline standard for what you’ll accept in life, you’ll find it’s easy to slip into behaviours and attitudes or a quality of life that’s far below what you deserve.” – Tony Robbins

Think about this for a moment in relation to trading

It’s too easy to take shortcuts. No boss to tell you what to do, no risk manager to tap you on the shoulder and send you home. No mentor to call you out on your mistakes.

Freedom is probably one of the reasons you got into this business, but ironically the freedom and lack of boundaries cause traders the biggest problems!

What’s the answer?

Today, decide to set your standards high and make a commitment to maintaining those standards each day you sit in front of the screens.

For example:

  • If you say you will do something, you do it: Holding trades, not over-trading, sticking to your risk rules, etc.
  • Preparation: Non-negotiable pre-market prep.
  • Homework: Strict journalling and analysis routine.

Because if we can keep our standards high and habits solid when the pressure is on, we have a very good chance of getting to where we want to go…

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Building Habits

Love him or hate him, Tony Robbins is definitely the OG of personal development.

In this article, he discusses the 3 Pillars of Progress for building habits that last. (Scroll to the bottom to get right to the pillars)