What I am presenting here is not new – implementation intention is proposed in James Clear’s “Atomic Habits” as a method to create a habit by attaching it to a time and a location. It is a very simple method which can be used to develop good consistent trading habits that can help you in your journey. Implementation intention is used to create a consistent habit by attaching a desired behavior to a time and location. It is done with the following formula:

“I will [BEHAVIOR] at [TIME] in [LOCATION]”

In trading, we want to drive towards consistency – consistent improvement and consistent profits. Trading is a skill that needs to be developed over years of constant work. If you are serious about making money in the markets, there must be a level of professionalism and consistency in your approach. To do this, you can use implementation intention to aid many aspects of your trading endeavors. By using the formula above, you can structure how to habitualize different aspects of your trading business. For example:

Opportunities: At 9 AM every morning, I am going to scan the markets on my trading desk for potential trading setups.
Reviews: I will review my day trades every day after the markets have closed while unwinding on my couch.
Education: After supper, I will study some Schabaker literature for thirty minutes from my study room.

You attach your trading habit to a time and location so that it exists in your world of tasks. Without some sort of plan, it becomes difficult to do consistently. We wait for bursts of motivation or willpower to do tasks – implementation intention does not rely on willpower to get the job done.

Example of how I use Implementation Intention:

I use my spare phone as a bookmark for any trading book I am currently reading. The book is placed on my desk and at 7:30 PM every week day an alarm will go off. I sit down and open the book to close the alarm. In that moment, I am ready to study [behavior] with a book in front of me on my desk [location] at 7:30 PM [time]. Due to this strategy, I study consistently and can get 20/25 minutes of uninterrupted concentration.

You can use a similar strategy to do your own analysis, or reviews or to test new trading ideas. If you feel like you need to study the charts every day but cannot find the time, use this method to carve out time in your day to consistently look at charts. Consistent work and dedication are the right steps towards consistent profits.