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Phil Lane wrote:
> More than ever I can see that the more religiously I stick to the plan, the
> better off I am. I would like to know why it took so long to get this into
> my thick scull. Once it's there it still seems to leak back out sometimes.
> So it's an ongoing effort.
Just like any other endeavor. First comes the plan, then the discipline to
stick to it. That way, you'll at least do as well as the plan. The failure
rate in trading is about the same as a number of other things. The top 5% or
10% in lots of self employment situations make almost all of the money and the
rest are marginal and not there for long. Usually, marginality or failure is a
result of either no plan, or no discipline.
To me, learning discipline is like a lab rat learning a maze. When I stray from
my plan, I get the financial equivalent of an electric shock. When I don't
stray, I get a reward. The one main difference between me and a lab rat is that
lab rats are much smarter and learn much more quickly than I do.
Alan
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