Brian Shannon from Alphatrends.net put up and excellent post for all of us to learn from. When in the heat of battle each day we tend to forget what is most important – not just in trading but in life. The intensity and pressure we are under is extreme and unbearable at times. How often have you found yourself blowing up over the smallest thing? Just a few thoughts but very useful. This is a great summation below – step back and take this all in, and I promise you will be better.
from Brian Shannon:
trading can be stressful
but the stress comes from us and the pressure we put on ourselves to perform everyday
our self worth should not be tied to our P/L
trading can be gratifying but it is not to be confused with real life
life is more satisfying if you are actually living it
instead of obsessively looking for the next great trade
the best trades (and people) usually reveal themselves
when we don’t expect them to be there
our job is to recognize the great opportunities and then pounce at the right time
to maximize our chances of success
we are supposed to put our emotions aside when we trade
it is difficult to flip the switch and be an emotional,
caring person after the market closes
don’t neglect your kinder side
while you try to be the big swinging dick trader
the people who care about you will hopefully remind you of what is truly important
and maybe more importantly, you will listen and hear that message
because losing money is easier and less painful than losing important people
trading can be lonely
if you surrender to it, trading can become unhealthy
it can be the most seductive mistress
but the love is always one way
someone wise once told me once
don’t love something that wont love you back
and the market loves NO ONE!!
don’t be seduced by her charm, because she has broken many a good man before us
and the biggest egos are usually cut down first
computers are programmed to do our job for a good reason, we are human!
we have “flaws”
and in this business it is our emotions which are called the enemy
emotions can be tough, but neglecting them is more difficult to overcome
emotions are more rewarding (okay, maybe more disappointing too) than monetary gains or losses
stocktwits can help alleviate the loneliness of trading
and put you in touch with some amazing professionals,
with great information to share
but don’t forget to think for yourself
it is your money, no one is going to care about it as much as you do
but really, it is just money…
I have made many real friends on stocktwits
I used to think only losers made friends online
i’m glad i have kept my eyes, mind and heart open
and my greed in check
sitting in a chair all day is not what our bodies were designed to do
get up and walk around the block
meditate, sit on an exercise ball
do some push ups, get the blood flowing
just be alive somehow
don’t let the market suck the life out of you!
three day weekends shouldn’t be spent at your computer staring at charts
jonesing like an impatient lover to spend another hour together
the market will open again, it always does, try to chill…
drink some beer or wine, smoke a bowl, whatever you do… just relax
life and the opportunities it offers seven days a week are more important than the next trade
try to keep your priorities in check
it is okay to love what you do, but
trading/ business/ money is how you support the things you love and enjoy
not what you should love first
don’t forget how to be a kind and caring person, it isn’t easy but
it can mean so much more than another zero to your net worth
love the important PEOPLE in your life First
not the pursuit of wealth, riches
and all the associated bullshit
not that those things can’t be fun,
because I still want to own a Ferrari one day!
i guess that is all for now….
