10 Minute Daily Reality Check

With David Wygant

Friday, July 27, 2018

Episode 442: Are You Impulsive Like a Child?

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Impulse control. For me, it’s one of the most important parts of trading.

And it’s also something that affects us every single day. We have to control ourselves at work, in our relationships, driving, and for me- trading.

When we’re shopping, we struggle to control that impulse to buy the foods we know we don’t need but really want. How many times have you been driving and you want to react angrily to someone for cutting you off?

How many times do you find you have to self-regulate so you don’t buy things you don’t need, react in ways that could be dangerous, make choices that have permanent repercussions? It’s all about impulse control.

Lacking impulse control can lead to regret. Today I’m talking about my journey toward becoming non-impulsive as a trader.

This is one that gets right to it- cut and dry, let’s control our impulses so we can better achieve our goals.

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