Great Trading Requires Leadership

 

I would like to build upon the theme of a Forbes article I wrote quite a few years ago.  Each of us has many facets to our lives:  our trading, our careers, our friendships, our romantic relationships, our families, our community activities, our hobbies, etc.  In that sense, our life is an organization, and how well we organize the parts of our lives will play an important role in how successful and fulfilling our lives will be.  

What that means is that, if our life is an organization, then we are the leaders of that organization.  All of us lead our lives, but not all of us act as the leaders of our lives.  Leadership requires the setting of goals and visions; the division and allocation of resources; the creation of inspiration and teamwork.  If you were leading a business organization the way you typically lead your life, how successful would that organization be?  How well are you setting the standards for what will make today, this week, this month successful?  Are you consistently inspiring your own best efforts?

Of course, we are also the leaders of our trading businesses.  How well are we guiding our own learning efforts and structuring our efforts at improvement?  

We are the entrepreneurs of our lives, and we are the entrepreneurs of our own trading.  Perhaps the most underappreciated part of trading psychology is our capacity to exercise leadership in our lives and in our trading.

Further Reading:

Tracking the Rhythm of the Market

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