— The Trader
Every important life decision we make is the result of a conflict. Not a conflict between ourselves and the world per se, but more of an internal conflict. As in many other areas, simple trading mirrors life…
We want to be “thin” (whatever that means) and healthy, but don’t want to eat well and in moderation. So we look for a shortcut… a magic pill of sorts… enter the ridiculous infomercials to which we respond promising miraculous results from a pill, 10 minutes daily on a special machine, or some heretofore unknown herb taken every 3 days with our 3rd meal of the day.
We want to have and excel in our careers, but we also want to be last in and first out the door each day, so we look for shortcuts and other ways to “cheat” the timeclock at our jobs.
We want a different life, but want to cling to our old one… so we refuse to commit to something new… anything new… no matter how good and instead we dabble.
We want to pursue our once in a lifetime idea, but we’re afraid to risk our “safe” day jobs… to put it on the line… so we start businesses part-time, but never give it the attention it needs or deserves… and make excuses about why it didn’t work for us.
We want to secure our retirement, but dont want to learn anything new or take more risk… so we hand our money over to charlatans like Bernie Madoff, Nicholas Cosmos or any one of the many unnamed, underperforming active managers available via mutual funds. Perhaps the worst of all the alternatives, we do nothing and “hope.”
We want to take that perfectly set up trade, but we’re afraid it will fail… So we avoid the trade and then talk about the great trade that we saw, but didn’t take. Or we take the trade late, then blame the setup when we are stopped out by normal volatility. Or we take a sub optimal trade setup later (because we missed this one) and “hope.”
Don’t get caught allowing the “difficulty” of a decision to paralyze you. It’s never as big a deal as it seems. The sooner you make a decision and pursue it, the sooner you will know if it’s the right decision or if you should pivot and head in a different direction. In any case, you will be better off getting in motion rather than sitting around waiting for your life to happen.
As a coach once yelled frequently enough for it to stick, “if you wanna watch the game, take that uniform off and buy a ticket.”