Been dealing with self inflicted issues related to long term procrastination. An often repeated behavior that leads to problems is a cause for immediate and decisive action. Found several high quality YouTube videos that discuss causes of procrastination and offer ideas for solutions. First up is The Only Way to Stop Procrastinating by Mel Robbins She considers procrastination as a habit and a form of stress relief. Habits have three parts: 1. Trigger. In case of procrastination, the trigger is always stress. 2. Repeating pattern. In case of procrastination, the pattern is avoiding doing something. 3. Reward. In case of procrastination, this is short term stress relief. How to break habit of procrastination: 1. Acknowledge stress 2. Pause, perhaps by counting 5-4-3-2-1. 3. Interrupt procrastination habit 4. Do one thing. Just for five minutes. The idea behind starting upon a task is that 80% will keep going according to a study. After task is done, repeat methodology or simply go to next task. Next up is How to Stop Procrastination and Increase Motivation by Dr. Andrew Huberman Dr. Huberman believes procrastination is related to dopamine levels. When procrastinating, the key is to get out of comfort zone. Examples include taking a cold shower or a run around the block. Discomfort or pain increases rebound from dopamine trough, increasing motivation. The making of lists, organizing, or sometimes even cleaning type activities can be a form of a displacement activity consistent with avoidance and continuation of procrastination. Dr. Huberman also discusses concepts related to “Limbic friction” that can be related to fatigue or stress. Last up is How to Stop Procrastinating and Heal Feelings of Paralysis by Tim Fletcher Mr. Fletcher believes the habit of procrastination develops in childhood and continues into adulthood. Some procrastination is the result of Complex Trauma. Related considerations: 1. Wounded child - Address underlying causes for long term resolution. 2. Consider procrastination can be a form of protection under heavy workloads and burnout. 3. Think back to earliest memories of procrastination. See the feelings in the past and relate to today. Determine what was / is needed. Is it encouragement? Is it support? (Will discuss power of coaching, mentorship at end of this post). Professional help works as well. Practical tools in the present: 1. Break big tasks into smaller tasks. 2. Use favorite distractions as reward as progress is made towards completion of task. 3. Start with task that would typically be left for last; the toughest task. 4. Begin with a 10 minute activity before a task to get going. 5. Change environment if necessary. 6. Implement 30 minute work blocks. 7. Set a specific time to work. 8. Make two lists: A daily list and a weekly list. Items on daily and weekly lists should be interrelated with each other. 9. Find someone to be accountable to. I have come to learn that many high performing individuals in real estate sales and mortgage loan origination pay a industry specific coach / mentor. Cold calling avoidance here is a common form of procrastination. Even at costs of $1000 per hour via a 30 minute session each month over the course of a year, studies on return on investment range from 25 to 100%. However, for some individuals starting in a related career to the above, the difference can be failure versus success.
people that are self employed get this - people that work for other people never get this. most everyone on this traders forum has a job working for someone else they do not make a living from trading so they will never get this message because they don't have to get this message. subordination breeds = procrastination you conserve or you produce - pick one cause you can't do them both well.
Filling my Tax returns is something I procrastinate every year, even though it's only a couple of hours (or less) to calculate work how many $millions I made in trading profits during the year, I always tend to leave it to the last minute
I think having a job while learning how to trade is nessacery to make calm rational decisions while trading. I run a small business that is probably 15% profit and trading 85%. If it wasn't for my business I would probably be bankrupt from bad trading decisions. Procrastination while trading is not always a bad thing, it's saved me a few times making bad trades. There's a time for it and there's a time to be impulsive. It's sometimes better to just stop and think about everything before diving in.