Building The Person That You Want To Become: Everything You Know For The Week Ahead
Sunflowers, Blazing Star... I mean important Macro Data!
“I have two basic rules about winning in trading as well as in life: (1) If you don't bet, you can't win. (2) If you lose all your chips, you can't bet.” Larry Hite
https://www.youtube.com/live/vrMtXvsvsWs?si=-4RIZzeucgP_LEN4
I have a serious problem with flowers.
Seriously.
My yard gets a little wild. Yeah… So anyways.
I live for the outdoors. I love farming, bees (Everyone knows that shut up Jason), building things, sun, mountains and beaches. However, that was not always the way I was. When I was 16 I was doing bike shows in Canada, staying in hostiles right after that creepy movie came out. On the way back we stopped at Niagara Falls and I did not get out of the car. I was so wrapped up in BMX and being the best rider in the world that I could not even be bothered, to walk a few steps out of the car to see it. I went to sleep in the back of the van and that was that.
My focus was so narrow at the time that I would miss everything that wasn’t right in front of my face.
Macro has always been kind of a ridiculous term to me. I am a global “macro” trader. What does that even mean?
Wikipedia says-Global macro is an investment strategy that leverages macroeconomic and geopolitical data to analyze and predict moves in financial markets.
I think everything is connected. The kid who did not get out of the car is a very different person than I am today. I could have found inspiration from a waterfall just as I find trading inspiration from staring at the ocean realizing that “I am powerless over market direction” from this post.
There are just four kinds of bets. There are good bets, bad bets, bets that you win, and bets that you lose. Winning a bad bet can be the most dangerous outcome of all, because a success of that kind can encourage you to take more bad bets in the future, when the odds will be running against you. You can also lose a good bet no matter how sound the underlying proposition, but if you keep placing good bets, over time, the law of averages will be working for you.
Larry Hite
The Art of Trading: A 12-Step Approach
"12 Trading Rules" inspired by NA/AA's Twelve Steps: Admitting that you are powerless over market direction: Recognize that the market is beyond your control. Embrace the inherent uncertainty in trading, understanding that market direction is unpredictable. (Much like the ocean, where everything constantly moves, successful surfing demands precise timing,…
It is the reason why this is such an important piece to my week.