Overcome Laziness: 7 Commandments of Trading Day 5 - Bulls on Wall Street

Overcome Laziness: 7 Commandments of Trading Day 5

The Stock Market is a strange place. You can review charts and prepare for the open for 8 hours, and lose money. You can also roll out of bed at 9:28 AM, open your brokerage platform, buy the first low float small-cap gapping up 50% and double your $2000 trading account in 5 minutes. Overcoming laziness in trading isn’t easy for this reason.

The reward system in our brain isn’t conducive to trading success. Experienced traders know this. They focus on sticking to a disciplined process and stick to it, because they know it delivers them results. They know one winning trade doesn’t mean they have an edge, and that a losing trade doesn’t mean the opposite. 

Market Will Always Punish Laziness

The stock market is a mechanism of moving money from the lazy and unprepared to the patient and hard working. It is a zero-sum game. If you are slothful, you will always lose money in the markets in the long run. You will give all of your money to traders who have a work ethic and a proven process.

You might get with one or two trading days where you roll out of bed at 9:20 AM. But in the long run, it will not work. Just like averaging down on losers, getting stubborn, and being impatient, all of these patterns of behavior will lose all of your money in the long run. Focus on routines that create long-term success, not short-term results.

You cannot measure trading success with daily results. Losing traders get too focused on their daily PNL, instead of the weekly and monthly results. You have to focus on your bigger picture and focus on building habits and a process that creates success for you. 

Understand the Habit-Building Process

All hard-working and productive people have the best habits. They have routines in place that keep them doing productive activities, NO MATTER WHAT. 

Habits take time to build. Studies show that habits take around 66 days to form. During these days, you really have to force yourself to go through the motions. So many fail at trading because they don’t have the discipline to build the habits they need to succeed.

If it habit-forming was easy, everyone would be a great trader. Everyone would be a successful entrepreneur. In great shape. If you can master this skill, you can succeed at anything you want in life. 

Check out this video for a quick overview of what my morning routine is like, and what tricks I use to have a productive start to the trading day:

Good Trading Habits

Waking up at LEAST an hour and a half before the market opens

– Reflecting and journaling your trades every day

– Tracking your trading metrics every day

– Stick to your trading rules

– Following your trading plan

– Regularly exercising

-Eating healthy

Take Advantage of Our Black Friday Deals

edge

Regular Annual Price: $1499/year

Black Friday Annual Price: $599/year (Using code: BLACKFRIDAY60)

Regular Monthly Price: $199/month

Black Friday Annual Price: $139.30/month (Using code: BLACKFRIDAY30)

Regular Boot Camp + 6 Month’s Chatroom Price: $4,000

Black Friday Price: $1,999 (using code BLACKFRIDAYBC)

All of these deals will expire on December 1st!

NOTE: Space is running out in our next live trading boot camp. We only have 14 seats left. Contact us ASAP to save your seat.