By Guest Contributor, Michele Hurlbut
Be a Better Version of You
I was talking with my mentor a few weeks back and I was marveling at how he saw the market and how it reminded me that I have so much more to learn. I half-jokingly said to him “when I grow up I want to be just like you! :)”
He replied, “Don’t be like me, be a better version of you!”
I had one of those ‘ah ha’ moments. If I set a goal every morning to be a better (trading) version of me, what I could accomplish would be endless.
We all say ‘that would be nice’ and ‘I am going to do that’ when we hear something interesting but when it comes down to the mechanics of figuring out how to do it and then implementing it, I frequently fall short.
So, How to Change for the Better?
This time the desire to do this resonated deep inside me. The one thing that eluded me was ‘how?’.
I thought, I can just let it set like all the other neat things I came across that never actually got done or I could make concrete plans on how. I chose the latter.
Now, how do I do that??
I sat in front of my charts and stared at them wondering, what can I do (or not do) that would make me a better trader, a better version of me? So many things came to mind. How could I possibly address them all?! I have to admit, there was a bit of overwhelm and I wanted to run and hide.
Well, that won’t accomplish anything I told myself.
Then a light bulb went on, what is the biggest thing I do now that hurts my P&L? That, if I stopped doing that one thing, would make me a better version of myself?
I found my answer.
Changing to a Better Version
Before I started with Hawkeye’s trend following system, I was a counter trend trader. I had success with it for some time until the market volatility changed about three years ago and trading that way killed me.
But, because I had had success with it, I still had a nasty habit of taking counter trend trades (and getting killed in the process.) If I just stopped doing that, not only would I not be losing my profits gained by my trend trades but I would also be following my Trade Plan more effectively.
That is my one thing to concentrate on changing.
Every morning I set my intentions to be a better version of myself from the day before. I bring it to the front of my mind and let it sit there. I form a plan around how I am going to accomplish my goal.
First, I had to identify how I started to feel and act prior to taking the counter-trend trade. For me, I would get antsy to ‘do something besides just watching the charts waiting for the trend to develop.’ I would start to sit closer to the charts, start reaching for the mouse and start clicking around looking for a reason to take a trade.
Once I had identified my physical and emotional reactions, now I could work on relaxing myself when they appeared. And that was what I did.
Every day I concentrated on achieving my goal for the day. And every day it got easier and easier to do.
My P&L got better also.
Being a Better Version – Every Day
Now I do not have to worry about that urge and subsequent giving in to it hurting my trading. It is gone and a thing of the past. I am a better version of myself in that regard.
I have not taken a counter trend trade in three weeks!
And I have also learned a new skill that I am using to work on other trading issues that I want to make better.
I hope this note helps you to also be a better version of you as it has me.
Great trading everyone and speak with you again soon.
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