The Benefits of having a Trader’s Constitution
Many expert traders have learned a number of lessons from their hard knocks. They take these lessons to their heart and they utilize what they have learned to ensure that they gain more pips than experience the next time around.
One way that traders do this is by creating a trading constitution. What is a trading constitution? Trading constitution is probably exactly what you would expect. In fact, it is a set of rules and guidelines that helps to manage trading decisions.
Main Benefits of Trading Constitution
- Most important benefit is that it starts to build your character. We must control our thoughts in our lives as they become our words and we must control our words as they become our actions and we must control our actions as they become our habits, and our habits become our character. It is so important because our character ultimately becomes our destiny. So, the constitution is needed in your life.
- All Countries have their own constitution. The constitution provides the foundation of rules of behavior and values. And a personal Constitution provides us with a purpose for what we are doing? Why are you here? Why did you get up this morning? Why do you trade? The reason we trade is to make a profit.
However, the greatest benefit of learning to trade successfully is that it forces you to completely change your personality. Moreover, it forces you to purge yourself of a whole lot of bad habits that were standing in the way of your personal success in life and in your relationships. To become a successful trader, you need to change this.
- Trading constitution forces us to create a set of rules for our own safety. These rules create the necessary boundaries of our performance.
- Trading Constitution forces us to be disciplined to those rules. We know that, Success always comes from disciplined life.
- The constitution gives us security and stability. In my relationships, the constitution allows me to be bullet-proof when I do all the right things in a perfect way. I already know what pushes my partner’s buttons and so I choose to do the things that does not push those buttons and for this reason, I become bullet-proof. The constitution gives us the stability and security that we are doing the right thing and this keeps us out of trouble.
- Discipline to those rules changes our personality and usually for the better.
- Constitution is a continuous reminder of our rules, our values of our character and what we need to do to maintain our character.
- The constitution becomes the policing force in our lives.
- Constitution reduces stress and increases relaxation when we trade.
Expert traders find that, trading constitution is a way to turn the fantasy of success into a scalable formula for success. For this reason, I believe that having a non-negotiable constitution helps traders remain in control of their trading outcomes throughout a number of trading situations.