Thought of the Week - 17th April 2024

Many members will have read Mark Douglas’ Trading in the Zone. I’m wondering how many have actually read it more than once?

The first time I read it I missed much of the key messaging…I think it was because I had already created an expectation in my own mind about what I might learn.

I came away a little disappointed as I didn’t appreciate the role that mindset actually plays in active investing and in so many areas of life too.

Creating new habits and learning a new way of thinking requires effort and some honest reflection. It’s not always easy.

A great resource that helps enormously with this process is the book Atomic Habits, by James Clear.

It’s a perfect complement to Trading in the Zone as it provides simple steps for creating change and can be applied very easily to mindset. This was for me, what I found missing upon my first reading of Trading in the Zone.

Fast forward, and now we have a course that combines both resources, further enhanced with Gary’s own experiences and relationship with Mark over many years.

For any member that has struggled with developing the appropriate investing mindset then this 4 Week Process & Mindset course is just the remedy.

I’ll be posting a number of dot points from Atomic Habits in Thought of the Week over the coming months, so please feel free to add your thoughts and feedback on any that resonate with you.

Here’s one to start with that I really like.

Your identity emerges out of your habits. Every action is a vote for the type of person you wish to become.

What votes are you casting?

Have a great Week.

David.

Your identity emerges out of your habits. Every action is a vote for the type of person you wish to become.
I see a different perspective to the above quote being:
Your habits reflect your identity. Until you change your habits every action reflects the type of person you are.
For example:
An untidy home reflects the identity of an untidy person & until you change the habit to being a tidy person your home will not be tidy.

Excellent example Frank. :grinning:

Your example links in perfectly with another thought from James Clear…“Habits are a double edged sword, they can work for you or against you, which is why understanding the details is essential.”

What habits could be working against us in our investing process, possibly without us even acknowledging they exist?