Friday, December 25, 2015

Facing The New Year With Eyes On The Stars, Feet On The Ground

To a surprising degree, we think in narratives.  We have stories we tell ourselves about our relationships, our trading, our careers, our future.  Those narratives provide continuity to life.  They also can become ways in which we lie to ourselves and fall victim to self-delusion.

This post explains how easy it is to fool ourselves.  It is not comfortable reading, but it is important reading.

We cannot move forward unless we're honest with ourselves about where we stand now.

We cannot improve unless we connect emotionally with the ways in which we fall short.

We cannot manage risk effectively unless we accept loss.

The greatest way traders lie to themselves is by telling themselves that they have a durable edge in financial markets.  How do you know that you have an edge?  How do you know that your edge will persist?  How will you know if you're cultivating a new edge?  If your existing edge is eroding?

We need dreams and positive visions.  Those move us forward in life.  We also need the ability to wake up, question those dreams and visions, and face hard realities.

What are your dreams for 2016?  What are the hard realities you need to face for the new year?  

Eye on the stars, feet on the ground:  a great formula for life success.

Further Reading:  The Greatest Con Job Of All