I turned 40 this month and yes, I can tell you that it is just a number. But it feels weird though. As if I have crossed a line in the sand. Back when I was a kid, this age seemed prehistoric.
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Now that I’m here, it doesn’t feel so bad. In fact, I feel about the same as I did in college. Time is relative, right?
After I became active in social media (many argue that I am not active at all – it is a subjective term 😉), I happened to meet so many young folks
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I see that they have fewer bumps and bruises from life’s curve balls. They are figuring out their likes & dislikes. What to do next and how to do it - as if they have all the time in the world 😊
Well, it goes by quick. Don’t dawdle too long.
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Here are the 13 things ..
1. If you are not sure about what to do next with your life, do the thing that terrifies/scares you the most.
2. That thing that’s keeping you up all night filled with worry? You are not even going to remember what it was at this age.
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Even if it seems like the biggest, most fearful/shameful thing you can imagine. It’s just experience. 99% of the bad things(purportedly ‘bad’) that happen in your life right now will not matter at all after 5 years
You would laugh at yourself that you worried so much for it
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3. You need to commit mistakes - Birds don't just fly from day one. They fall down & get up. Nobody learns without getting it wrong
Trying to only do/say things that make you look good/smart will be the single biggest obstacle to growth & the greatest limiter in your life😊
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4. It’s easier to ask for forgiveness than approval. Don’t waste a breath trying to justify your “why” to anyone. Just start.
5. If you have your health right, you have 10000 dreams. If you lose your health, you have only 1 dream.
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6. When you hold a hatred(grudge) towards someone, they own you. Forgiveness is for you, not for them. Cut the chains that bind you 😃
7. It is the little things now that become the big things in your memory later. Cherish every moment...
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It is a guarantee that one day your kid will not want to hold your hand while crossing the street.
8. Forgive yourself & all your mistakes/stupid decisions. Take a deep breath & make today the 1st day of your new life.
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It is a great idea to tear up the to-do list occasionally and start afresh 😃
9. If you think the world is out to get you, you are 100% right. And if you think the universe is rigged in your favor, you’re 100% right. Pick one and pick it wisely 😊
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10. Just keep going, without judging others or fearing their judgment in return.
Everybody is fighting their own demons & nobody has time to look into your demons. Even if they do, it does not matter to your progress. Just keep going.
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11. When you are young, the road to opportunity starts with saying yes.
When we grow old, the road to freedom starts with saying no. 😃
This might not make a lot of sense to you right now but it will, eventually
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12. Tell your friends & family that you love them. Even if you feel it strongly, it’ll only be real for them if you tell them. Silence is not golden here 😊
Never hesitate to express your feelings of love. Millions of folks assume that the other person knows. They don’t.
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13. Always do your best - your best might change from time to time but strive for 'YOUR' best. This will enable you to avoid regret and self-judgement.
Thanks all for reading and have a great day ahead !!
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I would like to briefly talk about risk mgmt in this thread (something that is not talked about much anywhere else)
The whole question of risk management is far from an objective subject.
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One needs at least one subjective piece of the puzzle to put it together: an individual’s acceptance to risk.
That is subjective, meaning no rule says how risk-averse you should be. That is an integral part of your emotional makeup 😊
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The problem is that human nature does not operate to maximize gain but to maximize the chance of gain, i.e., maximize the # of winning trades & minimize the # of losing trades.
The result is not only risk-controlled but profitability is also controlled 😆
Someone sent a WhatsApp message about how to trade without emotions, and i think there is a huge misconception going on that if you are a mechanical /system trader, you trade without emotions..😄😅
Nothing could be further from the truth.
(1/5)
Science says we express our emotions in the same six ways. Many believe that when a trader is successful, he trades without emotions.
Let me break the bubble now - one can't eliminate our emotions, nor should you. We have to keep them from becoming destabilizing.
(2/5)
If we don't feel the pain of a loss, then we will become desensitized to losing, and our financial survival will be tenuous.
And, in many ways, large profits are even more insidious than large losses because they cause overconfidence and a false sense of ability 😅
If we live life with the attitude that 'my trauma messed me up (the proper word would be the F word but not in the public domain 😊) and thats why I am the way I am, instead of learning, healing and ...
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.. growing, then we are now the problem. We are not responsible for our traumas but we are responsible for breaking the cycle and not hurting the people that love us.
This is actually very important in trading. Let me tell you how ---
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If we bring those unresolved traumas with us into trading, they will attempt to resolve themselves in the markets. It will create situations that will enable us to face financial trauma in order to identify those stored feelings inside us
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Following up with that thread, I am going to write about a mentor's essential qualities in this one.
Please bear with me for the length of this thread 😊
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1. He cannot be a teacher only. His primary occupation must be trading (albeit a consistently successful trade).
How to figure that out? Honestly, No idea. It is not as easy as finding the sun in the morning, but some of the pointers below might help 😅
(2/15)
2. He should have seen several market cycles. Higher the number of years of full-time experience under his belt, the better it is. Start with 10 years + at least
3. He does not have to give it away for free (if you ask me personally, it’s just pie-in-the-sky)
Many folks are back in vacation mode - much needed one actually.
Well, the topic discussed in this 'LONG' thread has not been confabulated much in the trading books/seminars and articles but nevertheless, a very cardinal topic (1/24)
Think about this...Before we embark on a road trip, i always wash my car (along with filling my tires with air and the tank with petrol). Not only is a clean machine more pleasing to the eyes, but a clean windshield is more transparent to the eyes 😅
(2/24)
This pristine condition however, is about as ephemeral as that freshly filled tank of petrol.
Between the smoke &dirt, to pollution & oil, it is amazing how quickly, dirt & gunk can collect on a clear windshield and morph it into an opaque sheet of glass.