Tuesday, November 21, 2023

Building Yourself By Building Your Trading

The common view in trading psychology is that we can work on ourselves and that will help us better weather the ups and downs, risks and rewards, of markets.  Certainly that is true:  as I describe in The Daily Trading Coach book, there are many research-backed techniques in psychology that provide tools for handling stress, uncertainty, overconfidence, and negativity.

A complementary perspective, not as well appreciated, is that by working on our trading, we end up developing our strengths and building our capacity for leading meaningful and purposeful lives.  Indeed, how we work on our trading helps shape our ability to achieve our life's goals.  For example, in cultivating our creativity as traders--training ourselves to perceive opportunities that others typically miss--we become more creative in guiding our lives, from our relationships to our careers.

This raises the important question;  What is the purpose of your trading?  How can our trading provide us with a life P/L and not only financial rewards?  The short answer to this question is that, like a good gymnasium, successful trading pushes us to develop strengths that we don't currently make use of.  Every day, every week in trading challenges us to broaden and build who we are.

Monday's webinar has filled up; I will likely hold another one in the not too distant future.  For those who could not make the webinar, the next TraderFeed post will summarize the main points of the session, as well as topics raised in discussion.  Thanks for your interest!