THE ENEMY IN THE MIRROR:
Everyday we wake up and we are already faced with the biggest obstacle we will ever face, ourselves. Millions of neurons firing simultaneously with thoughts about the things we have done, the choices we have made, the opportunities we have missed, and the decisions that account for the makeup of that person in the mirror. The power of thought is a superpower. You’re either managing your emotions or they control you, there is no grey area here. As traders/investors that ability to master your emotions is everything. We often fail and fail again because we lose track of our emotions, and we become reactive instead of objective. This is where rules are broken, accounts are blown up, and self-sabotage are derived. Then we start judging ourselves, and we all know how much fun that is. The self-talk becomes so negative and nasty. If someone spoke to me the way I speak to myself when I am not respecting my principles, I would lay them out.
We are constantly at war with ourselves, trying to fill the gap between who we are and who we want to be. That journey, that we are all on, to get “there”, all starts with the mind. You have to know inside that you can better better than who you are right now. Once you nail that, guess what, the work has just started. 1%improvement everyday, whether its in my trading, relationships, hobbies, whatever. That’s what I am going for. Because when you compound that day in and day out, that’s a lot of progress.
5 Tips to Strengthen The MInd:
- 5-10 minutes meditation upon wake up
- 45 minutes exercise daily
- Watching 5-10 minutes motivational/practical content upon wake up. Recommend David Goggins or Jocko Wilink
- Positive Affirmations- telling yourself your going to work not until you are tired, but until you are done
- Read 20-30 minutes daily of a book that has to do with trading/investing
THANK YOU
Excellent content and I feel like a lot of people overlook this aspect of trading.
Meditation is amazing and has thoroughly helped me over the years. Something as small as a 5-10 minute session at various points in the day totally clears my mind and allows for refocusing.
Though not for everyone, dabbling in Buddhism and the concept of mindfulness has helped me tremendously.
I think I’ve also found in peace in understanding that all things in life (including trading) are part of a journey…the wins dont make me a great trader and the losses dont make me a bad one. The constant evolution, the constant growth and learning, and being a part of a great community are what make this enjoyable.
Well said Joshy!
Outstanding, thanks so much for taking the time to share this with us.