Finding the One Thing I am Best at
By Lawrence
Mid-year is often the time of the year that I slow down my pace with work. It makes sense for me because trading volume is greatly reduced during the summer months. My trading strategies work best when the trading environment has more types of participants in the game. Hence, I know I have to be more selective with my trading setups during summer. On the other hand, Canada is such a cold place that many Canadians like me prefer enjoying the sunlight and outdoor activities whenever possible during the short summer here. Given the more relaxed pace, early summer is the time I do a lot of planning and reflections on what I do and how to improve them.
Shuffling among multiple projects right now, with unexpected hurdles threw at me quite a number of times already this year, gets me thinks about the importance of prioritizing them. As a minimum I like to get things done more effectively. I don’t like things being left half done yet I have a pile of articles written in exactly that state. Other projects also progressing slowly much less than where I wanted them to be.
The feeling of stuck in quicksand probably describe my situation perfectly.
And this is pretty much what my friends successful investor friends told me. If I were running my site as a startup, they said no one will want to invest in my project as I do not really focus on delivering results. it may sound like a joke but it is not. They are very serious about their observations.
What they like to see is that I focus on the one thing I am best at, or, the one thing to deliver, so that my site is more focus and provide better value to my premium members. I know that what they told me is true because if I continue to spread my resources thin among way too many things at the same time, I will be stuck in this condition forever.
My trouble though is that I do not really know what I am best at. Never have the need to explore on that. In trading, I eliminate my bad habits and avoid trading setups that trigger my emotional weaknesses to improve my performance. It works so well I do not really pay much attention on my strength. Now that it seems like there is no way to avoid this path to complete the self discovery process.
Maybe I will find the answers I need during this summer season, finally.
You mean you are good at many things but your trouble is not knowing which is the best.
You did mention :
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My strength is my ability to feel. By understanding the emotion side of trading, I aggregated that understanding into knowledge applicable to trading. It serves me well all these years. Knowing who is in pain in the trading game tells you what to do to take advantage of the situation.
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As we all know only 5% trader are successful, you have finished your target earlier this year.
Your resources in the websites are all direct to be a successful trader, but it takes
a lot time for new comers to learn without more guidelines. People just want quick results.
Your successful investor friends are right that people wants results , that is how much
money they can make for the investment in trading education. But without proper education, the loss is much bigger.
“Your successful investor friends are right that people wants results , that is how much
money they can make for the investment in trading education. But without proper education, the loss is much bigger.”
This is one of the fundamental differences between old money and new riches – old money seeks good advice that includes no performance at all in the short run while current generation of “investors” focus on returns so much.
As we have seen back in 2008-2009, return on investment is not as important as return of capital. Hard lesson learned by many since.
I agree with someih123, in addition its frustrating and your focus is not there, what use is the information presented when I climb the steps only to slide back down…. maybe its just me
Check out my blog last week on managing oneself,
https://www.daytradingbias.com/?p=162763
Rewiring how we think by cleaning out illogical thoughts and thinking behavior is an important and necessary process to transform oneself into a consistent trader. But remember that it is not a one off process – as we grow older, our worldview changes over time. Hence the struggle is an ongoing life time battle.