Quality #2: Decisive
Have you ever made a decision that completely changed your life?
It happens all the time in TV and cinema. Everybody loves a good story with a compelling character arc.
If you’ve seen Breaking Bad, the character arc of Walter White pulls you in right from the start.
How does an ordinary high school teacher who is battling cancer become a meth kingpin…
And take on the Mexican Cartel?
It’s the turning point that has to move the story along. And that turning point is usually a decision that has to be made.
Walter White does not become Heisenberg without deciding to sell meth.
Breaking Bad wouldn’t be as dramatic and gripping if Walter White just decided to move to Canada with his family for free healthcare.
So what decision have you made to move your story along as a trader?
Are You Sick and Tired of Being Sick and Tired?
Staying motivated is important. But it won’t mean anything without being decisive and taking action.
All the trading strategies and education will not matter without being decisive.
Stop overloading yourself with information from podcasts, charts, and books. If you’re not acting on information received, you’re either too scared to take action…
Or you’re not yet sick and tired of being sick and tired.
This is why you need to address whatever is keeping you from being decisive. Maybe it’s:
- Fear of failure
- Information overload
Whatever it is, it’s got you feeling stuck. This is why you need to make a decision and move your own story along.
Being Decisive is About Maintaining Forward Progress
Decisions are just actions that set and move things into place. Even deciding not to do something is an action of inaction.
All you set into place is stagnation.
So you have to be decisive and further your progress as a trader. And the good news is you can start immediately. Here’s how:
- Automate small decisions: Don’t get bogged down with small decisions you haven’t made yet. They can suck up your time. Automate what time you’ll get up, what you’ll eat, and what you wear. Spending too much time on small decisions can cut into precious minutes from the bigger decisions.
- Value Your Time: You have a finite amount of time on earth. Plus, it’s not even guaranteed. Imagine you had an actual clock that always showed you how much time you had left to live. In the most extreme cases, people have kept actual clocks that count down the average time a human being has left to live, and that constant reminder of one’s own mortality motivates them to be more decisive
- Why, How, and What: If you have a decision to make, think about why this decision is important, how will you get it done, and what metrics or results it will achieve. If you can’t find answers to these questions in regards to your trades, it’s probably a bad trade.
- Break down big decisions into smaller ones: Maybe you want to grow your live account to 7-figures plus. Obviously, it’s not going to happen overnight. But you can break down that big decision of wanting to grow your account over time into small decisions. And if a small decision can be automated, do it. Set up recurring transfers and trade indicator alerts that help you execute more profitable trades.
Remember as a trader, you are the hero of your story. But every hero must decide to take on a challenge and grow.
You’ll receive all the information and insights you need to make better decisions and maintain your forward momentum.