Do you have the will power to keep from buying that stock too early? Humans need the will power to delay gratification - how do we get it? Discipline is important to success. Walter Mischel’s, research which is commonly called the “Marshmallow Test” with preschoolers and self-control provides great insight. Video of Marshmallow Experiment https://youtu.be/Rwxf1BTyKz4. Although, discipline is the key, such as waiting to buy or sell that stock at the perfect moment. Some of the toddlers in the Marshmallow experiment who ate the Marshmallow right away, went on to have metoric careers. What is most important is getting the timing correct and having a plan. Another tip with self control, is being aware of the environment and having a diversity of skills, which helps with avoiding groupthink biases. Listen to Mental Models Podcast #’s 3 & 4 on GroupThink. We can use nudges towards our passion and healthier options. See the book “Nudge” by Thaler & Sunstein for tips and successful outcomes: https://amzn.to/2Q4Uihd …Buy…“Understanding Behavioral Bia$” to learn more about overcoming biases that are keeping you from investment success! http://amzn.to/2XHtsOE Authored by Daniel Krawczyk, Ph.D. & George Baxter, JD, CFA your hosts of Mental models Podcast. #mentalModels VIDEO of Dr. Daniel Krawczyk on Fox4News discussing new book “Understanding Behavioral Bia$" https://www.fox4news.com/video/655696