My favourite brand motto’s is the Nike ‘ Just do it”. I love it because it says all you need to know to keep moving ahead in this world. I love it because it puts a rocket under me when sometimes I procrastinate when in fact right in front of my eyes is a clear ‘just do it’ signal.
Often in financial markets that unique ‘signal’ can occur in very ‘dark’ times when perhaps prices have spiralled down amid a cacophony of bad news. This causes our reticence, understandable but…….
It is one of the great lessons I have learnt during my career trading futures, options, and stocks. Don’t procrastinate, just do it.
Often I attend various financial association meetings and as a person who has their own stock market website and can be classed as a trader who ‘knows’ I attract the traders who want to profess their trading status and acknowledge the great trades – they missed – so I can then acknowledge their ‘almost’ prowess. Yes I know confusing but it happens.
It might be News Corp from the ‘70’s or more recently Facebook or Amazon, gold through 2009-11. Who bought BHP at $15.00, or BSL when it triggered a beautiful reversal above $4.00 in 2016? The list can be long and varied taking all sorts of different shapes and sizes. But, money ‘ left on the table’ leaves a nasty taste in your mouth. Don’t you hate it? Let’s not die wondering and talking about what could have been. Frankly I’ve heard it too many times.
I feel like grabbing the procrastinator and shaking them out of their ‘head in the sand’ state and asking them why not? It a story all to often told. You have designed and built rules and signals for a reason – because they work.
I have learnt to love the ‘dark times’ because I know it’s where the best signals and opportunities lie. This is to some degree a learned ‘state’ as it is hard for many of us so fight the crowd even when we know it’s the ‘right thing to do”. But if we’re in the investing game we need to be able to do it, not just the easy way of buying when everyone else is. A few good successes can ‘get your mind right’ and help to understand how to buy the fear and sell the greed when the right signal appears on your radar.
Don’t wait for everyone to say yes, because it just won’t happen. Don’t wait for crowd confirmation, because the major portion of the move will have passed. Whatever your trading style or time frame it is vital we act on our signals as they come up.
The answer is to have a ‘call to action’ motto like ‘just do it’ because then you’ll never die wondering, or feel the need to profess your ‘almost ‘ wisdom that helps put you in the popular group of winning traders, why, because you ‘ll already be there.