Simple Secret To Self-Discipline

Readers have asked me (via emails) if the CM Patterns “system” still works. If the CM “RoadMap” price-action study still works. Well, let’s altogether see…



Everything I teach is based on internal price action of each respective market itself. How can price action-based tactics ever stop “working” so long as any action takes place? 🙂

The Disciplined Trader
Hands down the most widely used phrase for traders – trading is “discipline”. We see that everywhere, because it is the basis of success or failure. Proper execution, or self-destruction. From the fledgling trader – bloggers all the way up to and including veteran, million-dollar proven traders.

The simple secret to discipline, and lack thereof, is need for $$ success. If you don’t need the money immediately, you may develop proper self discipline. If you need profits immediately, you will NEVER develop proper self discipline. Your potential success is hopeless, period end of story.

Trading can provide a lucrative, substantial income. At times, during certain periods of price movement favorable to trading. Other times when market action is unfavorable, profits are impossible. If you treat trading as a secondary profit source, you may win. If you try to treat trading as a paycheck generating steady income, you will lose. Most assuredly, you will lose.

This fact is nothing new: it is part of the disclaimer you sign to open a trading account… only use discretionary income you can afford to lose. This fact was even publicized by well-known blogger and trader Don Miller, several years ago. Don wisely said in his blog that everyone should have a primary income that is not trading. As he did himself, and does. No one should apply the self-pressure of trying to day-trade on a long-term basis for a steady paycheck. As he himself does not.

If you trade thru a week and it’s highly profitable or results in drawdown but you don’t need the money right now either way, that is a manageable mental = emotional stress. If instead you trade thru Mon – Thu and come Friday morning you need to make x-amount of $$ to pay the mortgage, auto loan, heat bill, buy groceries, whatever and you are currently behind performance? You are most likely to self-destruct while trying to make things happen that are impossible to make happen.

Because the truth is, if you really need the money by Friday’s close and for whatever reasons you don’t, you failed. You lost. This fact is already implanted in your mind as you first turn on the screens, Friday morning ahead of time.

No Way Around It
It won’t matter how many psych books you read, what advice you get from trader-psych blogs, how many positive affirmations you chant premarket. None of that matters one whit if you need $$ performance today and $$ profit doesn’t happen. The simple act of your spouse or significant other asking if you’ll have the money from your account to pay xyz tonight will trump ALL other mental = emotional games you try to play inside your head.

So like it or not, and I’m sure the reaction is “not”… these are undeniable facts. You cannot learn anything (positive) or perform well (positively) if you are under deadline stress for profitable $$ results. Period, end of story. I’m merely the unemotional messenger here, delivering well-known and established facts to you. Accept or deny, your choice. Time and experience will explain reality to all of us, regardless.

Access To Info
With the understanding of my beliefs stated above now established, I’m going to make the CM Method of trading info available for purchase again. Access info as noted on the front page of this site. Payment methods accepted are checks, money orders, Western Union or bank draft wires. If you have the time, discretionary trading funds, personal interest and desire to learn what we know, I look forward to working with you ahead 🙂

Best Trading Wishes,
Austin
austinp@coiledmarkets.com

This entry was posted in Trader Talk. Bookmark the permalink.