Trade The Journey

Trade The Journey

The First Week of the First Year

Welcome to the New Year!

In with the new and out with the old. I’m sure refrigerators across the nation are covered in New Year’s resolutions post-its.

I, too, thought about what I wanted 2020 to represent. What I would like to accomplish and how I would go about accomplishing it.

Five days in and the results are in; It’s difficult to change in five days. The new day meant a new year, and in my mind, that meant an instant change.

 

Once the clock struck twelve, I would instantly become the person I envisioned.

I was listening to a podcast where a master trader mentioned that “who you are today is who you will be in the future.” Meaning that its probable the future will not be much different from the present.

Resolutions, goals, and new plateaus require more than one day to accomplish. It also takes more than the clock striking twelve to change who you’ve been for years.

A firm decision, committed to becoming the person you envisioned is a long and slow process.

A slow process is the most likely journey of those seeking to accomplish their new year’s resolution. Do you have the stamina to live your declaration of change?

Patience is a hard-earned skill, but its benefit is wide-reaching. Developing the patience to trade seems counterintuitive.

Trading is about Action

Trading is about the Now

There’s someone out there in the world that’s committed to making a trade

 

Now onto the trade that will change my life!

I see none before me, so I have to understand that trading opportunities come in many forms, but I have to recognize which opportunity contributes best to my goal.

The thin line between patience and analysis paralysis begins. Another aspect of trading I’m learning.

I don’t know which trade may be the winner beforehand, so I have to play my hand. Another test arises between patience and fear. When do I get out? How low can it go? Do I take my profits now?

Sometimes I prefer to know “When” rather than “Why.” The “Why” is subjective and may not match the real reason in all situations.  It may also take a bit of work to discover the “Why” and time is precious when money is on the line. When I first began learning about finance, I only focused on the apparent areas of finance — topics like accounting, security analysis, fundamental and technical indicators.

But a book focusing on the writings and lectures of Charlie Munger changed all of that. Charlie Munger is the lesser-known partner of Warren Buffett. Yes, there is someone that Warren Buffett’s bounces investing and financial ideas off of.

 

Charlie mentioned in a lecture that the best way to invest is to learn about many things, not just finance.

 

Doing all of this takes patience and a willingness to be uncomfortable for a while. Growth lies in being uncomfortable for a bit.

So when you think of your New Years Resolution(s), remind yourself that it will take time and consistent action.

Patience is the little known remedy to a lot of life’s problems and advantages.


 

This week in Review:

A little better, but I made some stupid purchases at the spur of the moment.

The basis of the purchase:

I wanted it now.

I brought some new earphones and another unnecessary item. I’m trying to allot money to buy things that I enjoy. Instead of purchasing the earphones within my budget, I brought the earphones that had better quality and a heftier price tag.

It wasn’t over $50, so I guess that’s okay. This week deserves an “F” for the purchase mentioned above and a couple of others.

 

With all this being said, I’m blessed to see another year that will have its opportunities regardless of last year’s setbacks.

1 thought on “The First Week of the First Year”

  1. Pingback: A New Year is upon us! – My blog

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