Jul
18
The Science of Winning, from Jeff Watson
July 18, 2011 |
This is a great article in Newsweek, of all places, on the science behind winning.
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“Critical Moments During Competition”, by Roland A Carlstedt is a nice source to understanding “choking” also there is a chapter on Statistical and Empirical Implications for those that like numbers.
May all’s assessment of critical moments be winners.
“One way of looking at it is that winners get in their own way less. They interfere with the raw expression of talent less. And to do that, first they win the war against fear, against doubt, against insecurity—which are no minor victories.”
Similar has been repeated time and again elsewhere about needing to understand yourself intimately before success in any high level endeavour is possible. I imagine this applies to top level sports as well as trading.
“You know everything you need to know about people when you see their faces at the moments of your greatest triumph” - what a beautiful story, and such a wise comment.
I will never forget the comment Earl Woods made concerning his son, Tiger Woods which made him unique. This was during his years when Tiger was practically unbeatable.
“One thing you have to understand about Tiger is he has no fear of losing.” When you combine that attitude along with great skills, a ruthless desire to close the deal, tireless work ethic you end up with a formidable machine of destruction.
A few examples of great winners across different sports.
Bob Gibson had complete disdain for any batter he faced. He once threw at his longtime friend and catcher Joe Torre when they were on different teams. Other pitchers with similar attitudes were Don Drysdale, Roger Clemens, and Nolan Ryan
Terry Bradshaw of the Pittsburgh Steelers who had great confidence in his skills never wavered in his swagger. Tom Brady, Peyton Manning and Brett Favre examples of an completely confident stride.
Michael Jordan always asked for the ball in fact he demanded it. He once scored 50 points battling a fever and the flu. Reggie Miller, Kobe Bryant and Larry Bird personified this also.
Muhammad Ali would make brash comments once referring to Joe Frazier as the “gorilla in Manila” Mike Tyson destroyed his opponents gaining the moniker “Iron Mike Tyson” in the process. George Foreman beat Joe Frazier so badly in Jamaica that Joe did not make it through the second round. Other notables are Aaron Pryor, Marvelous Marvin Hagler,Rocky Marciano and Roberto Duran.
Somewhere along the way, they learned how to control their mind and let their body take over.
I think this is a not insignificant point.
People will avoid pain more than they will seek pleasure.
Winning = pleasure
Losing = pain
both are very subjective and for each of us the words may mean different things.
ex. Jim Kelly led the Buffalo Bills to the Super Bowl 4 straight years. This means they were the American Conference champions 4 straight years. Never been done before. However because they never won a superbowl many people label them as losers. Or also-ran
Dustin Johnson and Phil Mickelsen both finished 2nd at the last British Open. A great accomplishment. However because they both were in position to possibly win the tournament, both were painted in similar circles as chokers. If they allow this to get into their heads,it can be ruinous to their future performances.
One thought. Why do we hold onto our bad positions and sell our winners. Possible answer it is too painful to admit we were mortal and closed out a losing position.
“One area being disrupted relates to dominance, a decent laboratory stand-in for winning.”
I can understand the importance of dominance spirit in sports or such, but can anyone relate it to trading? Do successful traders have a desire to dominate the market? I often see advices about letting off the ego in front of the market. Doesn’t that sound that one has to be humble in front of the market? How does the spirit of dominance come in on this game? Can one be both dominating and humble at the same time? Guess that must be the key of winning!