Two things that I just can’t do without in my life is trading and having a good workout. The two sounds so different but when I sit down and think about, it seems that both of them are actually pretty similar and requires the same kind of training and mindset.
1. Beginning- The Attraction
Trading: you see a friends or family or individuals around you and all the TV Jazz that so and so is so making so much money in the markets and it’s so easy to make money and then you think to yourself. Damn it, that sounds easy. Why didn’t I think about it before.
Workout: You see friends or individuals with well defined bodies and their fitness level at their peaks and on hearing that those individuals go to gym only a couple of times. Sounds easy, maybe I can get beefed up to in short amount of time.
2. Honey-The Sweetner
Trading: Ever heard of beginner’s luck. Yes, that applies to trading too. You can get a couple of good trades and think hey, this is actually easy. I should put in more money and make more money from the markets. I can easily be rich in quicktime.
Workout: You go to the gym a couple of weeks and think hey, I am actually getting bigger. Now this wasn’t that hard was it. I can easily get those eye candy physiques in no time.
3. Reality: Unspoken Truth
Trading: Now the person after having some big positions thinks he knows it all and try to hit some homeruns, what happens is anybody’s guess. The homeruns don’t happen, and it gets hard to even strike the ball and here come the losses.
Workout: Even though you saw that initial increase in strength and power. You don’t actually grow in size, it just that you have used those bodyparts in the gym that you haven’t used before and now after some bloodflow in them, you think your getting bigger. But it’s nothing but just rush of blood.
4. Bigger is Better:
Trading: Ok so now your getting losses, you know what I am going to put in heavier bets now , double down and with luck I will get abck to where I started in no time.
Workout: You will now go to the gym maybe twice a day now. Put in those hours and get that rush of blood to look beefed up all day.
5. No More Please
Trading: Your right on the verge of blowing up your account and now here is what differentiates a good trader and a wannabe trader. A good trader, will sit out at this stage, review what went wrong, speak to people who have been successful in trading and analyze what went wrong.A good trader will look for areas to improve . A wannabe trader sees no more hope in trading and fades out, closes his account and say’s it’s not for me anyways.
Workout: Your on the verge of cancelling your gym membership, cause you didn’t have any growth and have self doubts if you can actually achieve what you thought you wanted to. Here is where the differentiation lies between people who end up having good fitness and physiques and people who end up being who they were or worse than they started workout. People having good fitness will ask their trainers, read books, speak to people who have made it. On the other hand people who don’t end up having a good fitness find reasons like I don’t have time, I don’t have the right genes and so on.
6. Growth Stage
Trading: A good trader now has gained all the knowledge that he has accumulated and see things in a different way and puts in more time and starts getting profitable again at a slower and more consistent pace.
Workout: After having spoken and analyzed what went wrong, you start implementing the good habits and achieve the fitness level that you had always wanted.
P.S. I will do a blogpost on the similarities between the mindset required for both Trading and Workout.
dchsn6
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