Jan

5

Deep Survival, from Jim Sogi

January 5, 2019 |

 Deep Survival by Laurence Gonzales. I'm re-reading it, and I'm glad I was, especially over Christmas eve, which was a survival situation. The book is a classic and must read for outdoors adventurers and investors.

Simply put, either stay out of trouble or find what it takes to survive.

Your amygdala and other hard wired parts can overcome your conscious and rational mind and get you into trouble or make a situation worse. They prevent you from perceiving the obvious. You do stupid things. Learn to understand and overcome the emotional pitfalls. Overcome fear, confusion, hesitation, and confusion.

Get skills to stay out of and get out of trouble. In trading maybe it's lowering your basis in a falling market or controlling your leverage. Have a plan, have a backup system and platform. Take decisive action, but avoid impulsive behavior and don't hurry. Know your odds, your niche, your market. Have the right information. Ignore the news. Learn from others mistakes. Be humble.

Bail out before dying.

When in trouble have a positive mental attitude. All survivors engage in a self talk dialog, as do traders. Get your self a good mantra and get yourself out of trouble. On Christmas eve my mantra was not, "you're stupid for getting into this mess", instead my mantra was, "you're smarter than the masses; you're doing the right thing and you'll make a good profit when this thing jumps back up". That helped a lot. Have fortitude.

Celebrate your successes. Believe in your success. Surrender to the pain.

Never give up.


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