Tackle Today: Divorcing from yourself 💔
November 21, 2018
≈ Time to say goodbye. ≈
You-You and You-Trader are living incompatible lives. They don’t get along well together. In fact, they never did.
You-You thinks money is real.
You-Trader knows it’s all the fugazi. Castles made of sand.
You-You watches the TV and goes berserk with the news.
You-Trader doesn’t even watch TV. Too much opinion and no information. You-Trader just cares about portfolio convexity.
You-You sees a –15% market correction and passes out.
You-Trader sees it as an opportunity to sell volatility and to acquire great businesses at a discount. Black Friday.
You-You has a bad day and goes to bed. Depressed.
You-Trader has a bad day and looks at the portfolio like it’s day one. Nothing changed.
You-You gets a pay raise and thinks about buying new stuff. Social media is also there for a good ego massage.
You-Trader pockets profits and stays calm and relaxed. You-Trader compounds quietly knowing the ego is the enemy.
You-You is lacking productivity. Always sets new rules for the day but never follows them. You-You is not coachable.
You-Trader has a pristine routine. You-Trader knows the importance of staying coachable and accountable.
You-You has haunted nightmares with the Four Horsemen of the Trading Apocalypse.
You-Trader knows these guys very well. You-Trader is aware of the darkness they bring and keeps them at bay.
You-You wants to get rich quick.
You-Trader wants to be rich as a snail.
How they see the world and live their lives is incompatible. They can’t take it anymore. You-You and You-Trader must go separate ways.
Stay tuned traders. We are preparing a 101 series that will help You-You and You-Trader file for divorce.
Chart of the Day
Aircraft Flight Data Recorder (a.k.a. Black box)
You can live your life as You-You on a daily basis, there’s no problem with that. Just make sure that, once you become the You-Trader, you enter the Black Box, leaving the You-You outside.
Video of the Day
Warren Buffett’s First Television Interview – Discussing Timeless Investment Principles
Today’s Lineup
Coaches Lounge 11am EST
Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.
The Coaches Show Replay
If you missed last night’s episode where Coach Noah and Coach Gino talked about Theta-Giving or would like to watch it again, check it out here.
Bear Market Survival Guide MasterMind Group 8:30PM EST
Owners of our premium system The Bear Market Survival Guide are invited to attend. System architect, Tyler Craig, will be showing how to apply the principles taught in the course. You will find the recordings to previous meetings below.
Halftime Report 12:30pm EST
The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.
Market Recap 4:30pm EST
The Market Recap is designed to give you a quick overview of the day that was. While brief, this report is designed to cover all of the major events that drove the markets that day and help you plan for the trading day ahead.
