Jul

9

BusI have found myself subconsciously applying my trading rules and experience to life events. Cutting losses early and getting rid of bad position without waiting or hesitation is one example. One small anecdotal example: My wife booked an ordinary bus ticket to see her sister. She is reluctant and wanted to go in a different, air-conditioned bus. But the reservation clerk refused to refund any money as the bus is about to start. I immediately decided to offer a 50% discount to the ticket collector of the bus who can sell it at full cost to any other passenger on the way. Thus I have traded my bad position and cut my loss while at the same time keeping my spouse happy. I think this is one of few times she appreciated my trading skill.


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6 Comments so far

  1. James Delaney on July 9, 2009 11:06 am

    WHAT? No clue what ur talking about. Trading is trading. Traveling is traveling.

    [Ed. Yes, but quick thinking and a sense for economic incentives are useful in both].

  2. James Delaney on July 10, 2009 8:38 am

    Good point. Just like in baseball when you bunt you can check your swing faster than if you swing for the fences. Wow. That's analogous to trading too… hmm, so is tuning your guitar, driving, eating, sleeping, loving, walking, flying, fishing, basketball, oatmeal, parties, geography… nice call mang.

  3. SG on July 10, 2009 9:04 am

    Indeed, life can teach us about trading, and disciplined trading can give us skills and perspectives that are applicable to real life. Your anecdote is a good one. Thanks for sharing it.

  4. Gangineni Dhananjhay on July 11, 2009 11:41 am

    what I am trying to express here is

    1. Through trading I am able to better understand my life positions
    2. Trading and life acting as a two way feedback mechanism and reflexive interaction between Trading and life.
    3. My inability to hold good positions in life longer and not exiting bad positions soon enough has been made clearer to me through the process of trading mirror.
    4. As Dr Brett often notes, It is difficult to be disciplined in trading if one is not disciplined in life.
    5.I often take inspiration from the scholarly erudition of legendary traders like the Chair whose EDSPEC so seamlessly teaches trading lessons from life and life’s lessons from trading.

  5. Gangineni Dhananjhay on July 11, 2009 10:27 pm

    A related post by our very own and beloved Dr Brett in his traderfeed blog.

    “The overarching question to ask yourself is whether your experience of trading is making you a better person. Is trading a platform for acting out the worst in you, or is it a vehicle for cultivating the best within you?”

  6. James Alak on July 21, 2009 3:18 am

    Very bad example.

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