Many of you know that my son plays baseball and I get to have fun coaching the team.
I love baseball and loved playing it.
In fact I have so many fond memories of the game.
Memories that matter for winning in life and trading!
I remember playing one of our worst players.
The crazy part was this kid was not the worst player on the team, he was actually about average in both the field and at the plate…
The problem was his attitude.
When everything went well for the kid, he did great…
He hit the ball hard…
He scooped up balls…
He did about everything right…
This issue is when things were NOT going well.
When something goes wrong he would throw a temper tantrum.
He might start crying, he might not (although usually he did start crying).
Listen, there is nothing wrong with emotion. I think it is great that he was that passionate about doing well!
The problem is what happens next…
He cannot move on from what got him upset.
And EVERYTHING would fall apart for him.
He would stop swinging the bat and begins hoping for a walk:
This leads to strike outs…
And of course more emotion…
He then would bring it onto the field which lead to less confidence, and more mistakes on the field.
If this young man wasn’t perfect, he would melt down at a level that I have not seen in a 10 year old since.
Worse yet, he wouldn’t accept coaching, not from his teamates, not from another coach, not from his parents…
The kid would spin out of control and he would not let anyone stop him.
At his worst, his attitude would pollute those around him, and the whole team plays like crud.
HARSH TRADING TRUTH:
If this sounds familiar, it might be because it is like your trading.
Many of us have an inability to get out of the way of our own mistakes.
When we make a mistake, we make it MUCH worse because rather than moving on, we dwell on our 1st bad trade….
Which leads to more bad trades…
…and Much more dollars leaving your wallet.
Trading is a lot like baseball.
The trader needs to have a short memory when we are in the game, move on from our mistakes, and play our best game.
If we dont, we can take the whole team (our portfolio) down.
My buddy would be told that as a player that he needs to reflect on how he can do better and learn from his mistakes when the game is over.
You need to do the same.
Your Only Option,
P.S. – A little homework. Think about the last time you blew yourself up and self sabotaged your trading account. Reply and tell me about it.
- DISCLAIMER: FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. The materials presented from Option Pit LLC are for your informational and educational purposes only. Neither Option Pit LLC nor its employees do not offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational and educational purposes intended is at the user’s own risk.
- Option Pit LLC is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented materials. Option Pit LLC IS NOT AN INVESTMENT ADVISOR OR REGISTERED BROKER. Specific trading ideas or strategies discussed in the presentations or materials are entirely illustrative and do not constitute a solicitation of a transaction (or transactions) or a recommendation to execute a particular transaction or implement a particular trading strategy.
- To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Use caution when entering any option transaction and it is recommended you consult with your financial advisor for investment, legal or tax advice relating to options transactions.