I was recently asked, “What’s your secret to success?”
First, I don’t feel I’m successful yet. It could be my humility speaking. Second, I believe that success is achieved through our habits, not a secret. Habits are important and can help someone be physically, technically, and mentally ready to perform their best. Time and time again, habits are what separate a champion from the rest.
Singapore’s first Olympic gold medallist Joseph Schooling is a great example. His rigorous daily schedule begins at 5am every day. He swims for two hours before school. After his classes, Joseph devotes several more hours to intensive swim workouts and weight training. Then he returns home, eats dinner and does his homework before going to bed at 11pm. I believe Joseph’s record-breaking performance was the result of his habits cultivated over time and practised every day. In fact, I don’t know a single world-class athlete in any sport who does not use routines in some part of his or her competitive preparation.
Similar to that of a professional athlete, the Forex trader’s journey is equally demanding. The following are seven habits that have helped me to stay on track.
- Sleep
Rest is crucial. That means listening to your body and getting eight hours of good sleep so that the body can rejuvenate, and the mind can reposition itself for a new day ahead. Just like recharging the battery in our smartphones, we have to recharge ourselves on a daily basis as well.
- Connect
Before I even start trading, the first thing I do is to correspond with others in my emails and chats. Staying on top of client communication helps me to ensure that my clients and prospects are well taken care of.
- Do my homework
I devote much of my waking hours towards conducting proper technical and fundamental analysis and planning my trades well. - Mindset mastery
The foundation of all my habits, mindset mastery, helps me to always stay in control of my emotions, enabling me to make better decisions and achieve better results. You can learn more about mindset mastery in my other blog posts.
- Relax
Trading is 24/7 and constantly being up to speed is stressful. Balance is important. I disconnect regularly and experience real life. Even looking out of the window, going for a walk or listening to your favourite song can do wonders for keeping stress at bay!
- Travel
In our highly-connected world, it’s too easy to let all the little screens around us dictate our lives. Whenever possible, I step away from the computer. The further away, the better. Whether it’s a day-trip or a month-long European vacation, all those priceless travel experiences are food for the soul.
- Pay it forward
While my sights are constantly set on the market, I always have an eye open for opportunities to give back to the community through the Kenn Foundation. Most recently, extending the Kenneth Kam Scholarship to undergraduates at Singapore Management University is something I’m really proud of.
Aristotle once said, “We are what we repeatedly do. Therefore, excellence is not an act but a habit.” So, what are your habits? More importantly, are they helping you to become your best?
Authored by Kenneth Kam
Produced by Callio Media