The Importance of Commitment

By David Hobart
16 June 2009

Trading successfully requires a high level of commitment. Being committed means you are willing to do whatever it takes to meet your objectives. This requires prioritizing your time and your values so that you will not be stopped by excuses, discomfort, fear, laziness or even family.

Commitment starts with a declaration of intention. If your intention is aligned with your core purpose, then you will be able to muster the requisite commitment. If your will is split, then it is unlikely that you will carry enough commitment to achieve your objectives. 

Knowing what you want

Before you can truly commit to something, you need to feel it in your bones. To do “whatever it takes” in the trading game means at times feeling considerable discomfort. Being wrong and losing money over and over again can lead to unbearable depths of frustration and despair. Putting yourself at risk of failure and public ridicule takes commitment. Why would I do this unless I was aligned with the payoff? What is it about the trading game that inspires me to walk through this emotional fire? It is imperative to know that what you seek is what you want.

Why do I trade?

I do it for a number of reasons. First; I get to walk a path of self improvement and see my trading returns as my score board. Knowing the nature of my trading strategy’s return profile is critical here; otherwise I could get stuck in a spiral of negativity at the first sign of a drawdown. Second; I’m passionate about psychology, and trading keeps my theories grounded in a practical reality. Third; I’m good at it and it makes me sing. Fourth; I get to use my skills in a way that benefits others. And fifth; I could go on, but mainly, I trade because I choose to.

Why do you trade?

If you are trading for someone else or for a reason that just doesn’t feel right to you; then you may not have the commitment required to dig yourself out of a deep drawdown. And you will require a deep resolve to hold your line; to balance risk with opportunity when you feel like running and hiding.

Market Insights

Each month, I publish my thoughts and current market exposures in the Apeiron Global Macro Fund’s monthly performance reports. These can be accessed via http://www.apeiron.com.au/reports.html .

If you would like to find out more about David Hobart’s trading coaching and mentoring programs, please email David at dhobart@traderemotions.com.au .  

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Disclaimer: The contents of www.traderemotions.com.au is general information only and in no way provides advice in a personal or general nature. David Hobart and his related entities can not be held responsible for any loss, cost or expense resulting from your activities related to the subject matter in this document and or relating to www.traderemotions.com.au

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