Sounds horrible right? Sounds like the exact opposite thing of what we feel like we should be doing. I just saw this on twitter:
“If a trade isn’t working out, the key is to pull up a 5 minute chart and stare at it really hard.” -Noob
— John F. Carter (@johnfcarter) August 23, 2017
I think this is the perfect representation of what I am going to try and get across in this post.
Pulling up a 5m chart and staring at it intently for a trade planned on the 4 hour and executed on the 15m is the exact definition of caring too much.
There has to be a separation.
Again, as I’ve found with all these stoic principles, there is an opposing force. There is a balance. To stop caring all together is not the goal for me. To stop caring about the wrong things and start caring about the right things is. For instance, there has to be a point where the outcome of the trade becomes meaningless to you but rather the execution of your vision and your process, that’s what has to take over as paramount. To stop caring about things we can’t control and care deeply about the things we can, I think would be my actual takeaway from this.
I know I have harped on this before I’m sure but it’s so important. Each event in trading is it’s own event. It’s unique and unpredictable. There is no use in making it reflect something that it doesn’t. What do we make a trade out to be? What do I constantly see traders focusing on and caring about when they shouldn’t be? Here are a few of them:
- The trade or trading in general needs to give us worth- not monetary, something more valuable. We need to prove that we “know something” or that we are “right” about a movement of the market.
- We need the money- If we need money this badly, why are we doing this? I look at Conor McGregor and I think about all the time he had to put in not getting paid before he hit this point. There is a perfect flow out there for each of us I think that encompasses something we desire to do well, and make an amount of money we desire to make. Caring less about the money isn’t caring less about your family or caring less about being successful, but putting aside that care for a moment and caring much more about the process.
- What others think- This one is maybe the most highly damaging and I think it links closely back to number one above. What someone thinks of me or my trade has absolutely zero bearing on the productivity of my work. Zero. None. It’s an absolute waste of time.
I actually believe that the greatest asset to caring less, is having a big vision or goal that you care very deeply about. I think it’s the only way to stop caring about the things that don’t matter and focusing only on the things that do. That’s it.
Develop the vision. Speak about it to create the gap. Then work hard and watch the two ends magnetize together and bring that vision to reality.
and then stop caring completely about anything that doesn’t get you more obsessed with work on that vision.
That’s all for today.
P.S. I am excited to work with all of you that joined up for the September 2nd webinar. It will be a trading life changing day.