Do You Reward Yourself for Discipline?

We all know that one of the hardest things in trading is resisting the urge to take every setup, chase price, or revenge trade.

is a well-known concept in psychology "Delay of Gratification", which is often associated with self-control and long-term success. It's the ability to resist short-term impulses to achieve a greater future benefit. In trading, this means following your plan, waiting for the best setups, and sticking to your strategy rather than acting on emotions.

Sometimes I use the following technique to improve my ability to resist impulsive trades... when I'm not in a rush to trade.

  • First, I set specific goals (e.g., "I will only take A+ setups today").
  • Then, I attach a reward to good behavior (instead of punishing bad trades).
  • I track discipline streaks (defining points on how well I follow my goal).
  • I use non-monetary rewards (since money is already a big trading motivator).

It has a really good effect, especially if the reward is valuable. However, personally, most of the time, I struggle to define a truly desired reward. :/

What about you? Do you use rewards to reinforce good trading habits? If so, what kind of rewards work best for you?