The other day I was out on a morning run and it was particularly hard. It was difficult for me to string together even a few meters without stopping to walk. Needless to say, I wasn’t enjoying myself at all.  Even though I knew it was because I’m out of shape and hadn’t been running in a while, I still asked myself: Why can’t I find any enjoyment in doing something I used to enjoy doing so much?

I thought back to when I started running as a habit for the first time – I didn’t enjoy it at all. It took a while for me to actually enjoy the feeling of running and for it to become fun. I further examined what exactly got me to the point of enjoying the run. The answer was plain and simple: It was the consistency of always showing up. Getting fit and in shape, enduring the difficulty, and knowing I overcame what had been a struggle. Knowing I pushed myself over the line. To summarise, it was discipline. Discipline was the key.

From running to trading 

What does this have to do with trading? Well, I had a similar experience in trading over the last few months. I was going through a particularly difficult period of trading. At various points, I asked myself why I couldn’t seem to be enjoying the thing I loved and enjoyed so much. The answers that came to me were quite similar. Firstly no one enjoys trading when they are going through a tough period. I had to question why I was having such a tough time trading.

I realised much of the frustration and trading difficulty stemmed from inconsistencies in my trading process and decision-making. I was trying different things, styles and indicators. I had lost discipline in my trading process and style.

As with running, one also has to endure the difficult periods in trading where there’s no enjoyment and a lot of figuring out without giving up.

That’s where one needs to use discipline to find consistency. Even though I have experience trading, I still find myself in difficult and frustrating trading periods. And I have to push through. I have to learn and push myself to be better at it.

It’s even more so when you’re starting out. The early stages are rough. But you have to endure through it as you learn and come to enjoy it. The way out of the difficulty is discipline and endurance.

Transcend the profit gap

One of the main troubles I’ve found myself in, and I’m sure I’m not the only one, is what Mark Douglas referred to in ‘Trading in the zone’ as a profit gap. This is when the analysis and trading don’t match up.

This is caused by different things, but it all comes down to the execution process. This is where most traders (including myself) lose their discipline of adhering to their own analysis and plan. The reasons differ. Mine was trying various indicators and styles that weren’t part of the thinking and analysis process. For others it could be sizing or not adhering to stops. Some even take the opposite trade or stop the analysis process completely and trade on emotions. The list is endless.

So whenever you’re going through a tough period in your trading, find where you lost discipline and build it back in until you’re disciplined with the entire process. This will help you in times when endurance is critical.  And eventually, the enjoyment will come

Traders share a peculiar characteristic: they’re fiercely competitive, but only with themselves. In practice this means that they see every outcome as an opportunity to learn, and they’re brutally honest about both their failures and successes. This also means that they’re hungry for knowledge. They don’t sleep easy with unanswered questions. And they’re seldom satisfied with just one answer.

Njabulo Nsibande is a founder of Village Trader, and Sakha Ingcebo investment club. His interest in trading began in 2016, alongside a rash of Instagram ‘fx traders’…

Find him on Twitter: @njabulo_goje.