Have You Kept The Receipt For Your Greatness?

I Shot The Last Surviving Green Fairy On Monday

One thing that I have struggled with my entire life is Green Fairies.  Before you think that I am some sort of Disney weirdo/creep, this is what I mean.  It’s not about tights, wings and a pixie dust.

It is about doing shit that is going to get me to where I want to be.  So this week I finally decided to shoot what is hopefully the last Green Fairy by shutting down my other blog.  It’s not totally official yet because there are a few technical issues that have to be worked out, but it will be complete by the end of the month.

Cowboy

When I look back on how much work I put into that blog, just to shut it down…I feel like I have a hangover, riding on a boat in 10 foot seas.  All that time and resources are just going to go up in smoke.

And I could have spent that time, energy and money on this blog. But I also feel better that I am simplifying my life and removing the stuff that doesn’t work for me.

…Dammit!

Why do I do that?  I get caught up in these tangents that only prolong my success.  It has to stop.  After a lot of reflection, it became clear…

“Own Your Greatness”

This is a phrase that has been rolling around in my head for the past couple of months and I have come to one overwhelming conclusion.  I have kept the receipt for my greatness.

I didn’t own it completely…there were still outs.

It’s like that 60″ TV from Costco that you “bought” for the World Cup.  It is amazing, you can see the snot hanging out of the goalie’s nose at 100 meters.  Sport, in all it’s orgasmic glory.

But you kept the receipt…

Receipt

Have you kept your receipt?

Because that TV comes with responsibilities.  Spending that money possibly means that your kids can’t buy new clothes. Maybe you can’t afford your rent/mortgage this month.  Having somewhere to live is a good thing…so you took it back after the World Cup finished.

In order to own entertainment greatness forever (or until a bigger one comes out), you have to put in some extra effort.  Be able to truly afford that TV and have the disposable income first: maybe do some extra consulting, cook dinner instead of going out, sell some extra crack this month.  It takes some work and discipline.

I also kept my receipt. In case Trading Heroes and my personal trading doesn’t work out, I thought that I should have the other blog to fall back on.  I didn’t have to be responsible for what came with it.

Throw it out!

Bullshit. I was just being lazy and not taking responsibility for my own greatness.

I can’t be too hard on myself though.  I didn’t fully comprehend that trading is my greatness until recently.  These are just a few of the things that snapped me out of my daze:

  • I really enjoy the challenge of managing a trade and I have been encouraged by my current trading results.
  • I know in my gut that I can trade better…trading-for-a-living better.
  • When I speak to other traders, there is usually an instant subconscious connection.  Regardless of individual personalities or backgrounds, I tend to enjoy talking to these people much more.
  • It is one of the few topics that I can speak intelligently on and have actually lectured publicly about.
  • 80% of my library is trading related books.
  • A lot of synchronicity happens around trading.  That may sound a little granola-fru-fru, but it’s legit.  I have received free trading courses/books, I got a job on the trading desk of a hedge fund with no finance degree, etc.  *Maybe* someone might be trying to tell me something.  Hmmm….
  • I get fucking inspired when I hear about what Tim Sykes is up to.
  • Most of the Forex blogs out there are just charts.  I enjoy writing about other stuff too.

I’m not trying to say that I’m destined to become the greatest trader in the world or anything ego-idiotic like that.  I’m merely saying that it is my calling in life and I have to take full responsibility.  This is the reason that my life has been mediocre up to this point.

So here is what I’m doing about it…

Why I Have Been MIA This Past Week

I usually try to post at least 3 times a week, but this week has been a cricket festival.

Here is why…

I have been studying material by Sam Seiden, Adam Jowett, Nial Fuller and Chris Lori this week.  They are all basically saying the same thing.  Price action is King.

…but I knew that.

So why the hell am I not doing something about it?  I think it is the Fear Monster whispering in my ear:

  • No indicators? Check out the funny looking naked charts…
  • You are not good enough to do it on your own…
  • Don’t you know that everyone uses indicators…

In spite of how it sounds, I’m not totally knocking indicators, they can work.  The Wallaby method that I have been trading publicly on this blog is a good example.   I like the trade and I feel that it does give me a viable advantage in the markets.

But deep down, I feel like I am still lagging the market.  It feels a little contrived…like most of the people you might meet a Polo match (or at least the one I’ve been to).

So I am testing some pure price action strategies in the AUDJPY on the 5 minute chart.  The one hour chart is cool, but if I am going to trade for a living, I need to apply an advantage a little more than 4 times a month.

This really hit home after reading the adventures of the Wandering Trader and Day Trading Academy Founder, Marcello Arrambide and reading about how Adam trades for a living.

My Challenge To You

Have you been preventing your own greatness?  I challenge you to sit down right now, shut off all distractions and really do a gut check.  What do you absolutely love to do?

Do whatever it takes to figure that out.  Write down a list.  Reflect on how each item makes you feel.  Circle the one that you have the strongest feeling towards.

Now go rock the shit out of that. 

Hint: It may not be trading.  But if it is, I’d love to meet you.  Feel free to say hi on Twitter, Google+ or leave a comment below!

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Photo credits: Kevin Zollman and diongillard

Comments

  1. Austin says

    The best “most efficient way” to get up to speed in my opinion is:

    1. Read Kenneth Lee’s summary pdf on Sam Seiden’s Odd’s Enhancershttp://www.forexfactory.com/attachment.php?attachmentid=795748&d=1317247235 (Sam Seiden gives you a nice “thinking framework”, and you begin to see what he shows everywhere)

    2. However, by far the best and most enjoyable book (and I’m only 1/2 way through) isForex Price Action Scalping by Bob Volman.

    I honestly feel, I could spend eternity searching the black hole of trading styles forever, from indicator based systems or “price action” styles. It doesn’t matter.

    Eventually, it’s all “too much” information.

    — Al Brooks (and his series)
    — Lance Beggs (and his books)
    — Nial Fuller (and his videos)
    — Phil Newton.

    There is probably great info that works in all of them.

    However, I’m faced with the same problem again and again. There is now too much information to consume. What I didn’t understand before, is there is a big difference between “hearing something” and the process of “emotionally internalizing” it, where it’s now a functioning part of me.

    I wish someone told me early on, that being an independent trader will require you to “become your own coach”. And “learning to structure your own learning” is a skill that has to be developed like any other.

    I think that is why traders are stuck for so long, they a looking for so long for something outside of themselves, and doing everything possible to gain certainty that doesn’t exist “out there”. One other good book for structuring your learning is the “The Mental Game of Poker”.

    Best of luck…hope it saves you some time on your journey.

    Austin