Willpower

I finally finished reading the book Willpower by Roy Baumeister.  Willpower is a finite resource and we should be mindful on how we use it every day.  Willpower is like a battery and it gets depleted over time during the day.  Take note that that battery is being used for a day for any type of activity being used.  If you don’t use it wisely, it may get depleted for the wrong activities and you will end up not maximizing your productivity for the day.  As much as possible it is highly advised that you schedule your day to perform tasks of high value when your willpower is still at its maximum.  Decision-making depletes willpower as well as performing deep analysis of problems or calculations.  Avoid making critical decisions when your willpower is low because it may lead to bad choices and preferences. 

According to studies, glucose intake can increase willpower in humans so when studying, planning or executing trades, I can take sweets to boost will power.  Form good habits and seek ways to automate tasks so that willpower consumption can be minimized when executing tasks and when making decisions.  This is one of the reasons why I invested in Investagrams trading platform (soon to be brokerage) to automate my stock-screening and so that I stock alerts that will watch over the prices for me.  I also have a lifetime subscription to the InvestaJournal which I can use hand in hand with my InvestaCharts.  The GTD (Getting Things Done) workflow helped me manage my tasks in an organized manner so I lessen my time thinking of what to do next and I can focus on executing tasks.  One can feel paralyzed when he or she is given a variety of choices and it can impede decision making.  Making a commitment to something or a belief reduces that paralysis.  It frees you up from the paradox of choice because when you commit, you limit your choices.  In trading, these are rules.  Rules in trading limit your execution setups and it provides clarity in decision-making.