Hey everybody, it’s Michael Martin. Thanks for being here. Happy Friday. So there’s one thing yesterday that I didn’t mention that I want to mention today, and that has to do with envy or jealousy. If you trade long enough, there’s always going to be somebody who’s the new kid in town that’s doing very, very well. And to me that was always motivating, again, that making good gains and having good performance was possible, even if it was by random luck. The goal, of course, would be to do that consistently. That’s why people like me have performance coaches. That’s why I reciprocate and do performance coaching myself. It’s because I will always want to be at optimum behavior because behavior predicts where you end up in life if someone else does very, very well, even if they’re at the same firm. This happens at the institutional level with our clients a lot.
You have to pat ’em on the back and encourage them to do even better. It’s the minute you get into the thinking that you know become jealous. They’re outperforming you. You’re in an asset class that’s not working out and you’re trading style is in, isn’t amenable with the markets. You could find yourself trying to compete and put yourself in a spot where you put on trades that you otherwise don’t have any business being in only because you’re tired of being second, third, fourth, fifth place or what have you. And so give everybody their moment in the sun, celebrate their behavior, be abundant along the lines of think and grow rich. The more you give, the more you get and celebrate someone’s success because they’re going to probably turn around and help celebrate your success when it’s your time. Remember, asset classes and trading styles ebb and flow in terms of their efficacy in the marketplace, and yours will have its day if it didn’t already, and other people will too.
And that’s just how life goes. It’s very cyclical. So stick with your process. Stick with what you know how to do and compete with yourself. The goal being to have discipline every day, yes, you have to have a good attitude. You have to have discipline, you have to have persistence, you have to have determination. But other than that, that’s the best you can do. Enter your orders, put in your protective stops, you’re powerless over all the rest. If you’d like to get a free copy of the audiobook version of my book, the Inner Voice of Trading, you can get it. Click the link below if you’d like to look at some of the coaches, take two. If you’d like to look at some of the courses that we have for Mindset, we have online courses, we have group sessions, and we have one-on-one. Thanks for being here, folks, and I’ll see you tomorrow.
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