Saturday, May 1, 2010
The Weekend Trader - Delayed Gratification
One underlying theme that I truly hope has come across in the blog, is emphasis on the long-term. Three posts immediately come to mind, the recent Focusing on the Comma post, the most-referenced Chinese Bamboo post, and the 2008 Svithjod Rock post which was later syndicated in various places including the 2009 Trader Expo Directory. And I do so because I believe such emphasis is one of the least discussed, yet most important aspects of one's trading career.
And one's life.
Such is why even the live Jellie efforts are spread out over a month's time (and the first beta one on which the Webinars are based, two months). For it's the non-technical & non-immediate aspects that have received the strongest feedback.
Like the market, trading and life go through cycles. You see the ebbs and flows clearly in stock or futures charts, and I suspect if you were to graph your own trading performance -- and even your life -- you'd see similar patterns of plateaus, breakouts, consolidations, troughs, low volume (interest), etc.
Yet in a trading business where so much focus is placed on the "now" -- including both the immediate action and one's immediate performance -- it's all too easy to focus on laying the single brick vs. the 100-story building. And most of what is discussed in this all-too-hyped & need-for-immediate-gratification industry seems to discussing the brick.
So I've tried to compensate just a bit.
Why do I feel this way? Because I fall into the same trap at times.
Twenty days. One trade.
When you look at it that way, trading goals suddenly don't seem too daunting.
In fact if you approach every day or month with that perspective, you may just find yourself producing a year's worth of crop -- or see the Bamboo shoot up before your eyes -- in a single month as if by accident.
And isn't it highly ironic that by seeking to delay gratification, you may actually be accelerating it?
Have a great weekend.
Posted by Don Miller at 8:33 AM