Good is the Enemy of Great

I am sucker for inspirational one-liners.  Victory Loves Preparation; Commitment to Excellence; Play Like a Champion Today; etc....  The list can go on for ever.

Last week, my son participated in a hockey camp at Notre Dame in South Bend.  These picture were taken in one of the locker room areas of the Joyce Center.  I had never seen this one-liner before and it had a great impact on me as we drove back to the Chicago suburbs.  I thought long and hard, as the mile markers flew by, about how I could execute this is my daily life.  How do I identify areas that I am merely "Good" at because I don't focus on being "Great" at them.

In the past, I have told you about my 4 F's; Faith, Family, Finances and Fitness.....in that order.  I decided to breakdown each quadrant into the sub-topics that make-up that part of my life.  What I found is that I have too much "stuff" going on in each part of my life.  It takes a lot of time and effort to focus on so many different things and moving parts.  I would be well served to narrow that list down to the 2-3 things that are most important to me and focus on being "Great" at those things.  I am in that process now.

This obviously has direct implications in the trading world.  Great Trading is Boring.  Did you get that, Great Trading is Boring.  Sometimes the market is rockin' and you have multiple signals and positions.  Most of the time, you have to lie in the weeds like the lion and wait for the weakest prey......and then POUNCE.  You cannot allow yourself to get into "marginal" trades.  It is easy to do, especially during the summer.  The market is slow, it doesn't even look like it will hurt you, I'll just take this one, right?  Great trading does not work like that.  It takes ultimate discipline and a sensitivity to your inner voice that is unparalleled.  Save your time, energy, capital and mental capital for the best set-ups or weakest prey....like the lion does.  Conserve energy for the fight that could take your life.

Take inventory of what products you trade, what set-ups you are trading, your business plan and risk management rules.  Go back and look at your journal....oh wait, you probably don't have a journal.  Start keeping a journal, NOW.  Narrow your focus to the specific products that you have a "feel" for.  What set-ups are making you consistent money?  What set-ups are you finding it most easy to be disciplined with.  Follow your business plan for each trade.  Identify these attributes and focus on being "Great" at them.

Be Well,

Hemi