90% Mental 10% Technical
I feel the frustration we all feel while continually wrestling with what to share; what will legitimately uplift and what will disappoint by raising unrequited expectations time wise . . .
I’ll tell you what though – and this is not just some lemonade spin – Ultimately TRADING (options) is “90% Mental / 10% Technical.
The relevance of this insight is that there are things we can control and things we cannot. In life and certainly in trading AND how we learn to navigate this reality is more determinant of our success than any other single factor. I will be saying more about this very real component in the future and I believe it will create an Tremendous Advantage for us here, as we adopt it.
As a simple orientation, I recommend contemplating the “Serenity Prayer”.
God, grant me the serenity to accept the things I cannot change,
The courage to change the things I can,
And the wisdom to know the difference. – Reinhold Niebuhr
That not only works in life but it is exactly the correct attitude for successful trading.
Use this period to Exercise and Integrate the traits that will accelerate your success in all arenas. Initially, cultivate mindfulness and insight. From there other vistas such as compassion emerge which broaden the field of awareness, ability, success and satisfaction.
Voice In My Head
An interesting, entertaining, uplifting and useful book you may want to check out on Amazon is “10% Happier How I tamed the voice in my head, reduced stress without losing my edge and found self-help that actually works – a true story” by Dan Harris who my may recognize as the co-anchor of Nightline and Good Morning America or 20/20. Let’s all use this time well. It will bear enormous harvest for us as we do.
And here’s a little example of how this will relate to our trading behavior…
Statistically, if you flip a coin ten times (a binary option here) it will come up heads 50% of the time and tails 50% of the time. If you flip the coin four times and it comes up tails each time, do you know what the odds are that the next time it will be heads?
The answer is 50%.
This is a little zen like clue as to how a successful investor approaches investing. A tool like Options Domination may give us an enormous statistical advantage in probability (what will happen over 10 trades). But it is the clarity and maturity we cultivate that will allow us to use the Recommendations and Education inside the (Options Domination) platform to execute these signals to optimal advantage.
So, for instance, with mindfulness and a plan in place, we can use a Strategy while working within the field of Probability instead of being swayed hither and yon by our emotional reactions to Individual trades. In this, we will have ‘sage council’ – but it is up to us to understand and employ it.
So again, for now, let’s all use the reality of how this launch unfolds and our engagement with it in a way which Exercises Already the very traits that will allow us to Maximize the advantage it will provide for us all.
All is well my friends.
For more information on the Options Domination business review: Business Model