On community and feelings of isolation

Everybody it’s Michael Martin. Thanks for being here. Happy Wednesday. So I’d like to respond to another email that I got from Vladimir. Thank you for writing Vladimir. And the question is “I have one thing to ask about camaraderie and trader expression from trader experiences and process. Everybody in every career has similar like minds to express the ups and downs with their profession. Not too in trading, however, even many of the best say it’s often a lonely endeavor. How would you suggest to remedy the isolation without letting it influence your overall style and process?”

So it is a great question and I wouldn’t look for necessarily a community in the trading space. I would go do something socially outside because you can spend a lot of time commiserating with people. Yes, you can spend time celebrating, but I just never found that hanging out with other traders helped me trade better.

And so if I was looking for good feelings with having camaraderie as you called it or having a community, you can find that in other areas of your life to feel those feelings because trading is a solitary event, a solitary career. And if I had to do it all over again, I would not be seeking audiences or groups or god forbid Discord groups or any of that stuff, because you have to be an independent thinker and the more you can keep your thoughts to yourself and not let other thoughts infiltrate or having armchair quarterbacks, trying to coach you, which would be even worse. You can find friends in other areas of life and go plan social events this way.

There are any number of things that you could do because I don’t know where you live or you know, what your interests are, but there’s enough Meetups and this and that. I know there’s going to be a lot of folks who feel differently because they they’re all into trading. And so the more trading they can have in their life, whether it’s following people on the various social media channels, YouTube, podcasts, certainly books, educational videos, like all that stuff, it gets to be overwhelming. And I kind of believe “less is more” the constant barrage of that stuff can kind of – it reminds me of Steve Martin. He meant he made a comedy album back in the day called Wild and Crazy Guy. And on one side of it’s a life performance at a larger arena, then the smaller, then there’s another side that seems like he’s more of in a club.

And he talked about when he went to college east studied philosophy – Plato, Socrates and this and that. And he said kind of almost seriously. He said “the problem with study and other people’s philosophy is it screws yours up for the rest of your life.” And I don’t think that that’s too far off, off the mark. I know I’ve had episodes where I’ve spoken about the need for you to be a leader and to be decisive and to not have to build consensus consensus, right? You want to be independent because that’ll give you the most liberty. And the most freedom not to me is what leads to the greatest amount of success. It’s not a bad thing to have friends, but having trading friends, I don’t think that’s necessary for you to have trading success, right? So yes, it’s a lonely endeavor, but you know, there’s a million ways to go make friends.

You could go study go take a class at a school. You could take start taking yoga classes, learn a foreign language, go fly fishing. I mean there’s a million ways to go out and meet a community based on your interests, there’s groups that meet, I don’t endorse any of them particularly, but you can find the one that’s best for you. So I guess what I’m saying in a rather long winded way is to don’t remedy the isolation with more trading. You want to be independent and you know I don’t necessarily see the benefit of having a community of traders per se – there was a time that I did, but I don’t feel that way anymore. I feel like it could be a crutch. So I would investigate your feelings and ask yourself what do you really want to out of that?

So if you want to talk about there’s more to the email, he says, let’s be clear. “I’m not referring to a crutch to confirm or unconfirmed a per my bias or my process, but just to talk about trader trade mismanagement or usually about the highs and lows of the business.” So I guess that could be okay too. But the thing is you get what you think about. So you only really want to talk about how you’re going to hit your goals and to quote/paraphrase Napoleon “You don’t see obstacles, just objectives.” So I find that it might feel cathartic to talk about these things, but you don’t need, if you need a clinical psychologist for this business, then find something else to do. You know, I don’t believe that. I don’t believe in that whole thing if the, if you’ve got such trauma, right?

Honestly, life is too short. I know again, many of you are going to feel differently, but I’m not here to please you or to tell you the things that I think you want to hear. I’m independent and I’m a free thinker. So that’s what I think. You might feel differently. So if you want to isolate and start talking about the lows of the business, my take on that is that you get more of what you think about. And usually when someone isn’t succeeding, they don’t need a clinical definition of why they’re not succeeding. They just want a way out. And if you’ve listened to the show, there’s enough free information here for you to build a strong mental and emotional model to learn how to succeed without having to pay a therapist or otherwise it’s kind of the whole point about the show. Anyway, I always appreciate feedback. I don’t have all the answers for sure. I just have my own 3+ decades of experience that I speak from. But it’s still subjective because it’s just unique to me. Nonetheless, I appreciate you all being here and I will see you tomorrow.

This is a computer generated transcript.

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