Become a Successful Trader

February 26, 2015

You Only Get One Life, Are You Making the Most of It?

It’s not too often that I find myself writing opinionated pieces, but I felt compelled to share some important viewpoints that I think a lot of you will relate to.

On the EminiMind blog I talk a lot about balancing trading with life (family, kids, fun activites, etc.) Also, a lot of my reader’s trade part-time so balancing trading with work is another huge factor.

The main point to remember is to not become a slave to our jobs. I love what I do, thus trading does not feel like work. For most people there are things they would rather be doing than what it is they’re doing. Love what you do, and you’ll never work a day in your life.

[quote]Find three hobbies you love: one to make you money, one to keep you in shape, and one to be creative.[/quote]

It’s okay, and even a good idea to get totally consumed by something. The trick is finding a way to be able to focus on that passion in a clear thinking, positive environment.

The Education/Application Cycle

As Mr. Money Mustache talked about in his recent post about education there’s a cycle of education that occurs when we learn new things followed by putting them into practice. I’m a firm believer of hands on learning so being able to experiment and try things you learn as you learn them is a big part of the educational process.

I would also add that a large part of fully understanding a concept occurs while you’ve stepped away from whatever it is you’ve been working on. For me, those “light bulb moments” and deep processing comes while I’m out riding my bike.

Read a Little at a Time

I like to do a little reading each day as I find I pickup on little nuggets by reading 10 or so pages at a time that I can then apply or try out for myself. This also gives me time to process the things I’ve read or think about the view point the author has shared.

Podcasts are also good, especially when doing mundane tasks like driving, household chores, or mowing the lawn.

Explore the Outdoors to Expand Your Mind

For me (and I bet most of you) getting outside is a way to process what’s occurred during the day and a great way to recharge (sunshine and green spaces also help a lot)

I take lots of walks, am constantly up and down from my computer, reading, thinking, and reflecting on different things that I’ve been exposed to throughout the day. All of these little habits I’ve formed that would never fly in a typical 9-5 corporate office are at the core of what has made me successful.

Sitting and performing a mundane task over and over each day is not what we were designed to do as creative human beings. Trading, in its own way is repetitive, but the context in which we look for trade setups is always changing, forcing our brains to process what we see and formulate quick, decisive responses.

Defining Success

[quote]I prefer to measure success, NOT by an absolute dollar figure, but rather by quality of life, flexibility, and freedom.[/quote]

If you don’t wake up each morning excited to get started doing whatever it is you do each day then it’s time for a change.

Steve Jobs said “I wake up and look in the mirror every morning and asked myself, If today were the last day of my life, would I want to do what I’m about to do today? And whenever the answer has been, “no” for too many days in a row, I know I need to change something.”

Ask yourself are you happy? Why do you do what you do? What are you working for?

Don’t get sucked into mediocrity, or stuck in a rut because you’re waiting for the right time. You never know when things could suddenly come to end.

Make the most of TODAY and live your life knowing you made the most of every situation, not looking back thinking and wishing what you could have done.

It’s like the story of The American Tourist and the Mexican Fisherman, which one would you rather be?

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Trading for Life
About Tim Racette
Tim Racette is a day trader of 15+ years in the E-mini futures and swing trader of stocks. Mountain biker, lover of the outdoors, and explorer. Tim is an ASU Sun Devil and a Chicagoland Native now living in sunny Scottsdale, AZ.

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