A little trading motivation. I saw the following post on Twitter. It resonated with me because I did this, and I talked about it as part of my audiobook on the intangibles of trading. Below is the original post. Then I show some responses and offer my own comments.
I packed my bags and moved to New York (and then Boston). They were perfect places to be inspired but not distracted. I didn’t know anyone, and no one knew me. I could go all-in and not feel the push and pull from friends or family to do this or that. I set out on a period of intense, dedicated and focused work. I was young and had no responsibilities beyond just paying some bills, which weren’t very high. I had the luxury of compressing potentially years of work into 1-2 years of intense focus. I don’t necessarily recommend going to the extreme that I went to, but my point is obvious and a milder variation is realistic.
Twitter is great. Often the responses are better than the original post. Here are a few…
Let’s assume you are not as obsessed as I was. What could be your version of going all-in?
Start with not wasting time. No more mindlessly scrolling social media. No more checking email 20 times/day. No more watching Netflix at night, unless it’s a “date night” situation. No more reading or consuming any information that doesn’t advance you on your trading quest.
This is first – be 100% focused with what you consume and your time. Being more productive and efficient and focused starts with deleting things from your life.
Next, carve out time to dedicate to your quest for trading mastery. If you’re single, you own your time. If you’re married, you need buy-in from your spouse. If you have kids, you need buy-in, and you probably have some logistical challenges to overcome.
You don’t need hours and hours of study time every day, but you do need 1-2 hours and a couple on the weekends. Maybe you miss a day because life happens. That’s fine. Don’t beat yourself up. You might have to get up early or stay up late to get your study sessions in. But it shouldn’t be hard to get buy-in from a spouse.
Be focused. Don’t waste time. Don’t clutter your mind with information that seems interesting but doesn’t advance you to your goal. A couple years of all-in, focused intensity will bend your path in life and enable you to achieve escape velocity.