Trading for the life you want
There are trade-offs to everything you do; pluses and minuses and unforeseen pitfalls along the way. There are also unforeseen successes and opportunities when you create what you want in life. Many people want something different or think that they want something different. Most people fall into three categories: wanting more time to do what they want, more freedom to do what they want and or more money to do what they want. All decisions in life are trades. To get something you want you have to give something up. As a society, we trade so much of our time and freedom for material goods and societal status. This requires most of society to: sit in traffic commuting to work, stare at computer screens, be managed by incompetence, or stuff their bodies with processed junk only to get home exhausted and numb. We trade the most valuable time with our family for a made-up family on the television.
You are only one, one decision away from making the life you want. Your life can become drastically better with that one decision. Maybe that’s quitting your job, leaving an unhealthy relationship, ending destructive behaviors, or shifting your perspective to bring more joy and fulfillment into your life. The caveat to this decision is it must be non-negotiable. It’s okay to be unsure and scared. Not being able to see down a dark tunnel can be a tough proposition. However, never venturing down the tunnel will only ensure you stay unfulfilled.
The world is full of an indeterminate amount of possibilities that you cannot predict and many you cannot control, just like the market. Saying “what if this,” or “what if that” or “what happens when”, and allowing these questions to stop you will lead to a lifetime of fear and indecision. Louis Pasteur said, “fortune favors the prepared mind” (thought) this is true but is not the whole picture. One MUST act. Virgil said, “Fortune favors the bold” (action). I believe both are correct. Make your one decision non-negotiable. Prepare for what you can and believe in yourself for that which is unknowable and unpreparable, then act supporting your non-negotiable decision. You may get the surprise of your life. The possible outcomes are neither bad nor good, they just are. If your trading decision is non-negotiable you will learn, grow, adapt, and overcome any obstacles that get in your way. Once you accept that you cannot control everything and believe in yourself, none of the unknown can scare you back under the covers of your current situation.
So, throw the covers off, believe in yourself and GO FOR IT!
Look around! Is the life you have traded for the one that you want?
What is the essence of the life you want?
What is one thing you can do today, no matter how small, to begin to create that which you desire?
“Ever tried. Ever failed. No matter. Try again. Fail again. Fail better.”
Trade Review with Coach Rob
How to stop losing money: Part 1 Coach Chris
Window shoppers, new members, old members - buckle up, I’m about to save you thousands of dollars. Yes, thousands of dollars. That’s how important this is.
No one likes to lose a trade, especially one you had no business getting into in the first place. You know what’s coming after it happens, the blow to your ego, and the ever-looming threat to your confidence as a trader. Well, I know about that because I’ve been there before and I will share a little secret with you; you don’t have to get into those trades AND it’s simple to avoid the trap.
Does this sound familiar to you, “I paid a lot of money and put a lot of time into this and I expect to get paid because I showed up this morning to trade”? Quite a lot of us have held that mentality before, but it’s a nasty trap having such a high-pressure expectation. If we simply adjust our expectations as traders by saying “I don’t have to trade every day” then you have taken the first big step. Don’t worry, the market will still be there tomorrow.
The next step I want my readers to do is please watch the basket and the SPY. It’s such a life saver. When you look at them together you get a very clear picture of what is happening*. On the trade review attached to this article, I mention that I was aggravated with the cyclical or channel pattern in the basket.
It’s ok to get aggravated when the market isn’t showing a clear direction, I use that as my indicator to know it’s time to shut it down and do something else. When you notice the pattern emerge in the basket chart and it’s cyclical it tells me “IF I take a trade, it’s going to be quick” and I want to emphasize the “IF”. To me quick means I need to be in the green within 45 sec to a minute and 15 seconds or I’m heading for the exit. Also, if you find yourself with a respectable profit then leave. Why would you choose a cyclical day to “wait one more minute to see what happens next”? Sure, it’ll work in your favor once in a while but often it’ll burn you. It also is reinforcing a pattern of greed in your brain and you’ll be experiencing that blow to your ego and confidence as a trader if you develop that habit.
As I wrap this gift up I’ll give you something to think about. Ask yourself: do I skip days in Replay when the day seems dead? Consider why you do that and if it’s any different in live trading.
*The basket is an aggregate of the stock in the Main List. The SPY chart is showing the S&P 500, so it’s for 500 stocks.
Are you Prepared for a Market Correction?
Do you remember what happened in 2008 when the Market took a massive downturn? How did it impact your life and the lives of your friends and families? What if you could have avoided the whole thing with some very simple rules? Many people do not know that we have an interactive chart that goes back to 1900. Most people also don't realize that corrections like the one in 2008 happen regularly. You don't have to be subject to the next downturn and put your future at risk. With a very simple chart and a common sense approach, you will place yourself in a great position in the future. No opinions, tips, or secrets. Just data driven by math. That's it.
Trading can be a very easy relaxed process if you have the right tools, training, and mindset. This Tradisode walks you along the path with a guide showing you what it should look like. No opinions, predictions or fluff, just data and experience.