Sunday, November 15, 2009

The Weekend Trader - The Shovel

Some weekend thoughts as we gear up for the NFL game of the year between the beloved/hated (depends on your perspective) Pats and Colts tonight.

My Greatest Asset - While it's true I trade a multi-million dollar account that I grew -- and continue to grow -- entirely through trading, I've often said that the greatest asset in my trading business will never be marked by dollar signs.

In fact, you'll never be able to see or touch it, as it isn't any of the components that comprise the tangible infrastructure of my charting, execution, or broker platforms. And no, it's not my infamous Sony Vaio laptop.

Rather it's the intangible asset of confidence.

For if I ever had to choose between losing any of my tangible assets -- including portions of my capital -- or my confidence, I'd let go of the physical property in a heartbeat.

You see, physical property can always be replaced. Yet without confidence, there can be no future income. The future might as well have ended yesterday.

Then again, perhaps confidence is a tangible asset.

For I consider it the shovel that mines all untapped opportunity.

Check out the first video below for a visual reminder.

What Motivates Me - And speaking of confidence, here's a short list of that which drives me ... none of which should be a surprise to longtime blog onlookers:

The never-ending search for excellence, losing, getting knocked down, apathy (including my own apathy), naysayers (including that other inner voice on the other shoulder), critics, and limited thinkers.

As the second video below reminds us, "Do just once what others say you can't do, and you will never pay attention to their limitations again." James Cook

Such aptly defines my approach to life.

btw, check out this link that a reader sent in describing an "immortal jellyfish". Now that sounds like something to shoot for!

Mark it Down - MF Global and the CME are firming up plans for their participation at the 2010 Trader Expo in New York, and I've been asked to be a part of the effort. And while I continue to purposely limit any personal appearances to maintain focus on my own trading business, I've agreed to attend and am considering holding a one-time drawing for a Jellie Webinar Video Series. Plus, my wife simply loves New York and probably wouldn't speak to me if I said no.

I'll provide more details as they firm up.