Extreme Ownership – Jocko Willink, Leif Babin
Extreme Ownership is another book that is not tied to trading but the overall process and discussion points can be directly linked to the psychological skills required to be a successful trader. This book teaches you everything you need to know about discipline. Discipline equals freedom, discipline is the most important thing because if you have the discipline to do what you know you need to do it will excel your trading career. Most traders don’t do it, they expect to wake up everyday feeling happy and motivated and when they aren’t they get upset and don’t know what to do. You see it so much most particularly in this generation, The thing is successful people don’t wake up inspired and motivated every single day, in fact quite the opposite. The difference is that successful people know how to control their emotions when they don’t. Discipline is having the ability to show up like you love it even when you don’t feel like doing it, it really is that simple. I know so many people that do not have the discipline to even get out of bed and attack the day. If you think about it, your bed is the most welcoming and warming place you know, it is where you feel most comfortable. So many people will have a day off and just use that time to stay in bed.. so if you can just learn to get out of bed when you don’t feel like doing it BUT do it as you enjoy it this will translate into so many areas of your trading. Think about it, if you do not have the discipline to do something as simple as getting out of bed, what are the chances that you have the discipline to take consistent profits from the online trading markets? If there is one word that will allow you to scale to the capital within your goals for it will be discipline.