2/10/25 - The single most important ingredient of a successful life is regularly doing things that you find to be deeply meaningful. Research in psychology finds that happiness is necessary but not sufficient to produce overall emotional and physical well-being. In addition to doing things that are fun and enjoyable, it is important to engage in purposeful activity that is fulfilling for us. A great question to pose each day is, "What am I going to do today that is so meaningful and fulfilling that it will inspire me and give me positive energy?" For many market participants, it's not solely P/L that provides that emotional fulfillment. Perhaps it's the intellectual challenge of discovering new edges in markets; perhaps it's being part of a trading team and learning from and helping others; perhaps it's continually reviewing and refining performance to become better and better at navigating ups and downs. What about your trading process is meaningful to you?
Of course, when we are engaged in meaningful, energy-producing activities outside of trading, we're best equipped to bring our best psychology to our market activity. Younger people make the mistake of seeking a fun life. Older people make the mistake of seeking a comfortable life. Every day should bring meaningful goals and challenges that push us to become more than we are, even as they pull us to greater and greater energy and engagement in life.
2/9/2025
* Margie and I celebrated our 41st anniversary this weekend. We met at a singles event in Ithaca, NY, during which I had way too much to drink. When I got home, I wanted to sleep in and was concerned that the morning light would wake me up, so the idea came to me to sleep in my walk-in closet. I woke up hung over, stumbling out of my closet. I knew that Margie was special, and I knew that I would have to grow the f*ck up to be in a great relationship with her, especially given that she had three children by her prior marriage. What I couldn't do for myself, I was able to do for her: great relationships inspire us to be more than who we are. We become who and what we love.
* Great traders invest in their careers: they constantly study to find new sources of edge, and they continually work on their game. I have never met a successful trader who copies the work of others. The same can be said of successful artists, scientists, and businesspeople.
* We cannot live energized lives with out of shape bodies. Our emotional and spiritual development draw upon our physical energy.
* Mali teaches us that strength comes from how we compensate for our weaknesses.
* Mia teaches us that persistence pays off, even when you're on death row in rural Kentucky.
* We internalize what we consistently do. We succeed at life when we turn each day into small successes.
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