Obv. Correct Knowledge + Discipline

Look at this tweet and think about it for a moment.

It IS The Contest of Discipline.⌗

Incorrect! You can have discipline at performing the wrong things. Discipline only works with knowledge and skill. Most aren’t skilled. The point is, even with skill… without discipline it is rendered ineffective. It all comes down to discipline.

My secret to trading success comes down to one word… discipline. You can have knowledge, skill and even superior intellect, but if you don’t have discipline it all means nothing.⌗

First you get knowledge. then you get the experience. then you get the skill. then you get the money. You need the knowledge FIRST.

Make no mistake, if you don’t have the correct knowledge and you’re not buying at a low-risk entry points with favourable reward/risk profiles, stops will do little good. There is nothing that will protect you from ignorance and poor criteria/techniques. That’s the starting point.

The first thing you need to know about trading is simple: If you don’t have the right mindset, then knowledge, practice, and even skills will be rendered ineffective when you need them most under pressure. The best stock research in the world won’t help a poor mindset.

Even those that have a system with an edge, many lack the discipline to follow it. Trading is an art. Trading requires skill. Science can help you, but you can’t get around the fact that it takes skill and skill takes time to develop through proper training and experience. The good news is, ANYONE with a working brain can acquire the necessary knowledge and develop the skills to trade stocks at a high level. But it takes commitment, persistence and a willingness to learn from your failures, which will be numerous. Most of all, it takes discipline.

Quote of the day: Being disciplined is doing certain things that feel uncomfortable and not doing things that feel comfortable. Being a professional is doing them consistently.

A 94% field goal kicker misses 4 straight XP’s, tells you how important mindset is. Nothing changed except his mindset! That’s how powerful mindset can be. Jim Bakken missed 6 field goals in a row in a game on Dec 11, 1966. Most traders think if they just had the tools, tactics and strategy of a supertrader - the intel - they would be able to emulate the results. Not true! Without the proper mindset, all the knowledge in the world, and even skill will be rendered ineffective and self-sabotaged.

Remember what Tony Said, get my head back to the track.

I need to regularly look at the model book.⌗

I definitely can drift and took a shit setup.

Btw, this mark not only about the shit setup, but also discipline in everything. Like the food I ate, the 9AM coffee strict rule. No coffee before 6AM. Sleep rule. etc etc.