Focusing on the “Now”

I don’t really engage in social media or whatever. So what I’d like you to do, especially if you’re on the institutional side is like reach out via email. Let me know what it is that you’re doing, what you’re working on, who you work for this and that. Cause I have resources coming out of the Wazoo and from time to time, I get asked “Hey, who do you know, who does what?” And I know everybody, but it would be good if I could kind of reciprocate to the audience and see about that. Um, so reach out, let me know what you’re working on. If you’re, especially if you’re on the institutional side, family, office side, this and that, um, I don’t need clearing or execution myself, but, um, if you’re, yeah, if you’re in the family office space or allocator space let me know. And also if there’s a good idea that you think I should cover, I do that all anonymously. I won’t mention any names.

So I wanna address, um, a comment that I got through one of the channels about why do I say that you can get your best education about trading from actually doing it so I can elaborate a little bit on it. And that is this when you’re managing risk, there’s a reality that goes with that, right? Every tick you’re either making a little bit or losing a little bit, right? Based on your position size. And again, there’s a reality to it and there’s a very, you have to be present. And there’s no other device that I know of that can bring that to your front door so quickly than actually doing it and running real money. It brings you to a moment of being present. It brings you into the ever evolving moment of right now, it’s the only way to feel all the feelings that are running through your body about a whole list of stuff, who you are, what’s your identity, your self-esteem how smart you are or not.

What trading ability do you have or not tactically speaking? What kind of good luck or bad luck do you have? Do you have intuition, right? Do you have a good sense of timing? Do you have good instincts? So I think people delay that because they’re afraid to get the answers to those questions. And so my whole thing is in a very shit or get off the podcast kind of manner is go right after it right away, because you’re not gonna be a rock star until you address all those things. And you have answers to those questions you see for yourself. This is even before you go out and try to get outside money. So don’t delay there’s no, there’s no day, but today go get it right now because the riches are for the people who go out and get it.

It’s not gonna go to the nice guys and the nice gals, right? And that sounds kind of cliche. You’re good guy, go get a dog. That kind of thing. So don’t fall into that trap. And if you are a nice person, that’s great, but the money in the world and the riches of the world that you seek, aren’t gonna show up on your doorstep or come in the door and kick you in the ass. You have to go get it. You have to take the action. There’s no other way. You can have all the greatest plans in the world, but if you’re not emotionally connected to what it is that you’re doing, and actually put yourself out there playing in fire, right? Dancing in the traffic don’t expect any success. Cuz you have to invite failure. You have to willingly invite that failure. And that might mean losing small bits of money. So with that you might find a trading system with which you’re compatible, where six, seven times outta 10, you lose money. So every time you put on a trade, you should almost expect to lose money because it happens two outta three times.

So there’s no real reason to get upset or try to subvert your own efforts by getting upset that you don’t have a winning trade. You see? So you can mentally prepare for that by knowing in advance. But even still that shouldn’t stop you from going out and taking the chances of doing. Because if you don’t do it you’re not gonna, you’re not gonna know where you stand. There’s no way to have any type of achievement. If you’re hiding safely behind the scenes, not taking any actions, not putting yourself on the line. Does that make sense? So that’s why I say the best advice and the best teacher for you is to put yourself in that reality, right away because it’s a shot in the face. However you wanna call it. It’s, it’s a wake up call in a good sense because it immediately will start to challenge everything about you.

And if it is in fact gonna amplify your worst character defect, you wanna find that out now so that you can address it and deal with it. The more you put it off. Okay? I don’t, I can’t say the worse it’s gonna be, but the more you put it off, the longer it’s gonna take you to have success. So you might as well in sales, they say get right to the objections early ask often and ask early, cuz you want to get to the objections cuz the objections are buying signals, right? So same thing with trading get right into the failure and see how you can improve upon it. Risk small bits of capital and then learn from the market and say, okay, this is how the market is giving me feedback based on my actions. You see that’s invaluable. You can’t get that anywhere. You can’t get it from a book. You can’t get from a chat room. You can’t get it on Twitter. You can’t get it anywhere else. The only place you can get it is when you commit real capital and you start feeling all your feelings about making and losing money

About that. You think you stand for in this business. So don’t delay. Go get it right now. You see what I’m saying? All right folks, that’s it. Don’t forget if you are on the institutional side of things reach out, let me know what you’re doing. And I can’t promise anything right now, but over time when people ask me for stuff, I might be able to introduce you to some folks. All right. That’s all I have. I’ll see you tomorrow.

Subscribe to the show  

Take your changes early and often.

Click here to  get your free copy of The Inner Voice of Trading audiobook.