Life is Like the Marketsboyles
ant to become a good trader? It may be as easy as studying life itself. I will never know if I have learned more about trading, from life itself, or more about life from trading. Both offer many of the same lessons.
As just one example; you only get out of life what you put into it. After survival, that is the second law of life. So it is with trading.
Put in “hobby” hours and you will get “hobby” results from your trading. That is not bad; some people don’t have more time, or strong passions. Just don’t expect professional results from part time efforts.
Invest a lot of time with your kids or spouse, and you get great kids and a great relationship with your wife or husband. Not paying attention to them is the same as not using stops in trading.
From trading I have learned that after a string of great trades, comes some real stinkers. What a life lesson that one has been…after good times I have then been besieged with junk and junk people. I have leaned that life’s most beautiful moments are often followed by bad things I would never have imagined.
That is not the lesson though. The lesson is that all this cycles. Don’t get drawn down into the negative crap or up too high for the wins… find an emotional balance. When I let all my bad trades get to me I locked up; froze, and could not trade. In life I learned not to be short term concerned about the negatives… they would pass… my duty is to endure.
Who hasn’t taken a course or class in communicating or been told that you really need to listen to what the other person is saying? I’m still not a great listener to people, but a darn site better one now than ever before.
Life lessons, market lessons; they can make us better traders and better people. All of us, right? But, how many really put that into practice? Trading taught me to pay attention to what the market was saying; to get into communication with the market. This is done by:
- Dropping my preconceived notions of what the market ‘should’ do. Just as in a conversation, Listen, don’t assume you know what the person will say.
- Sitting back… 4 to 5 feet from my monitor to see what the charts/indicators are really telling me. It is there, all the stuff I am looking for but had not seen. I just have to “look“.