What does willpower mean to you? Are you firmly of the belief that you are simply born with a certain degree of willpower and that no matter what you do in this life you are stuck with what you were born with? Or do you subscribe to the notion that willpower is more in the hands of the individual as a changeable force if the individual is so inclined? This belief will help determine how well you create and stick to your trading plans and ultimately your level of success.
When we come up with a trading plan, we find it very difficult to stick to during the formative years of trading. We often wonder if we made a mistake during the planning process or if we covered enough aspects when were coming up with the trading plan. In the beginning, sticking to the trading plan is a direct exercise in willpower and a desire to succeed. If you believe that you were born with very little willpower and the your willpower is stuck at the same level that you have had all of your life, then you are going to be much more likely to excuse yourself should you abandon your trading plan too prematurely.
Alternatively, the opposite is true. If you believe that your level of willpower is in your own hands and you are able to gather more as you grow, you are much more likely to stick to your trading plan and finish things through until the end because you aren’t apt to excuse yourself if you don’t.
Willpower and drive go hand in hand. If you believe that you have a lot of willpower then you also believe that you have a high level of dedication to your own success. Does this mean those with a lower level of willpower don’t? Of course not. But what those with a lower threshold of willpower often find a range of excuses to let themselves off the hook for not achieving whatever they had set out to achieve.
Developing willpower and your basic beliefs about willpower go hand in hand. If you don’t believe that you can change your willpower intensity, then you might end up believing that you will forever be changing your mind, your plans, and your business. Believe it or not, you have the capacity to change everything about your belief system. If you find a belief that isn’t serving you, it is possible to just flip it around use a different belief. This means that you believe that your willpower is a changeable force as long as you believe that you can change your beliefs.
Willpower can be gathered by simply learning to stick with your plan of attack. When you are tempted to abandon your trading plan, step back and give it more time. Thus, you are choosing by choosing to wait out your desire to abandon your plan, you are also choosing to enhance your willpower.
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