LeBron James Talks Team And Teaches A Trading Lesson
The thinking that makes you successful in binary trading as well as traditional trading is the same thinking that powers teams of professional athletes to championships. The “not so sexy” message of process and slowly building your record and your account the right way, often takes a back seat to a “learn today, make a fortune tomorrow” mentality.
LeBron James’ comments after the firing of the Cleveland Cavaliers head coach illustrated exactly what many traders need to accept if they want to become successful traders. David Blatt was fired as the Cav’s head coach despite amassing a 30-11 record and holding 1st place in the NBA’s Eastern Conference. Cavalier’s management thought the team was regressing despite their impressive record. James seemed to agree. “Like I told you guys before, you get so caught up in the wins and losses and I tell you every day, it’s not about the wins and losses, it’s how we play. It’s how we prepare ourselves every day,” James said. “For something like this to happen, now you understand what I was meaning.”
The lesson is clear and applies incredibly well to trading. You could have 100 winning trades in a row, but if you are being rewarded for bad behavior, it will catch up with you and you won’t get to where you want to go. It’s not only about wins and losses; it’s about how you traded. Losses will happen, but as long you traded responsibly and have a high-probability, time tested strategy, the losses will not swallow up the wins over time. Worse than having losses, is having wins attained through poor preparation and bad habits. Just ask David Blatt.
Futures, options and swaps trading involve risk and may not be appropriate for all investors. Past performance is not necessarily indicative of future results