Don’t Forget Your Game Face
Bring your very best or don’t show up at all. That’s the attitude to have when it comes to many competitive activities, and trading is definitely one of them.
Last week, Kobe Bryant put up 81 points one night. Now, I’m actually a Spurs fan (and we don’t like the Lakers!), but I couldn’t help but be impressed by Kobe’s performance. Without question, Kobe had his entire focus on doing his job to the best of his ability. Every time he got the ball, he was on a mission. His focus kept him from being distracted by anything else. Marital problems? Nah. Tabloid rumors? Nope. Disputes with the coach? No way. He had his game face on and nothing stopped him.
Take the same approach with trading. The first thing I try to consider each day is how do I feel. Physically, it’s important to be healthy and alert, but a quick mental check will help you to determine how you should trade today, if at all.
Tiger Woods shows up ready to play every time out, and he stays home otherwise. Think about what an approach like that could do for your trading results!If you’ve got off-the-court issues bothering you, don’t get in the game. If doing those taxes late last night left you with your head in a fog today, you shouldn’t be trading. If one of your relationships is rocky and you can’t commit your concentration to trading, then today probably won’t be your day to trade. If you have family in town visiting and you feel obligated to entertain, then your trading is going to suffer.
Priorities like health, family and relationships, and a to-do list longer than you prefer can often mean sub-par trading results. Consider sitting on your hands during those times when your situation leaves you with less than 100% focus. A little patience with priorities never hurt anyone. And when you return to trading, make sure you bring your game face!
Jeff White
President, The Stock Bandit, Inc.
www.TheStockBandit.com
[…] Obeying stops is one habit we can all be reminded to check. It’s easy to “just give it a little more room” and soon after realize that you’re in a spot where you feel it’s too late to exit (which is never true). Doing your homework is always a great habit to be in. Showing up with your game face is another one. Remember how small mistakes = small consequences? Habits like those can keep you on the right track as a trader and pay off nicely as time goes by. Making a habit just to show up prepared every day for whatever the market throws at you can have a tremendous impact on your progress and consistency as a trader….not to mention your P&L! Baby Steps worked for Bob Wiley! Little habits and constant progress end up making a big difference. […]
[…] Few people are able to channel their raw emotions into their best state of performance. Michael Jordan and Tiger Woods come to mind. We’ve probably all seen them get a little miffed at a competitor or themselves, put on their game face, and just get hot instantly. However, the majority of people don’t have that ability (talent or skill?), so removing as much emotion as possible is the best bet when it comes to damage control and staying cool under pressure. […]
Yeah I agree, its hard to just focus on one thing and trying to bring it off when you have a dozen other things to worry about. But when one is capable of doing that, thats when we see amazing performances like from Kobe and MJ. When the going gets tough, the tough gets going.
[…] Whatever your situation is, bring your game face – it all starts Monday! […]
[…] StockBandit.net: Two articles His point in a nutshell? Come fully prepared for the trading day or stay at home. There’s no in between. “Don’t Forget Your Game Face“. The second article is appropriately enough about how to best prepare yourself for trading. The article specifically addresses what kind of layout is optimal to avoid information overload or analysis paralysis. “Simplify Your Trading Layout“. […]