Following my piece on fear I got a few comments from people that indicate that many confuse a lack of discipline with fear. To me fear is a visceral experience, it is almost tangible in the way it can paralyse ones actions and distort thinking. A lack of discipline is a behavioural trait and is akin to laziness. A lack of discipline is the inability to generate enough internal motivation to do things such as put in the effort and discipline to maintain a healthy mind and body. It is impossible to be a disciplined trader if the rest of your life is not disciplined. If you cannot get out of bed before midday then this is not fear it is a lack discipline. If you cannot take valid signals then this is a lack of discipline it is not fear. If you cannot take your stops this is a lack of discipline it is not fear.
There are times when fear will encroach into a traders psyche but the for the most part it is really people just being lazy or stupid. You may fear failure or you may fear success but a failure to do the most basic trading tasks often has a much simpler explanation – it is because of the person you are.
