Trading Hero's/What You Need to Know
The traders journey, breadth, banks, small caps, sectors, energy, bitcoin and The Fed
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Time and time again a conversation on trading turns in to talking about the trading journey. It always makes me think of Joseph Campbell.
The Hero's Journey is a narrative framework identified by Joseph Campbell in "The Hero with a Thousand Faces."
It begins with the Departure, where the hero starts in their ordinary world and is called to adventure. Initially, the hero may resist this call due to fear or doubt, but with the guidance of a mentor, they commit to the journey, stepping into an unfamiliar world.
In the Initiation phase, the hero encounters tests, allies, and enemies, gaining valuable experience. They approach a significant challenge, known as the "inmost cave," and face an ordeal that leads to a transformation or rebirth. After overcoming this major challenge, the hero receives a reward, which could be an object, knowledge, or reconciliation. This stage is crucial for the hero’s growth and sets the stage for their return.
The final phase, Return, involves the hero's journey back home, where they face additional challenges. The hero undergoes a final test, emerging transformed with newfound wisdom. They return to their ordinary world with something valuable that benefits them and their community. This timeless framework is seen in popular culture, from Luke Skywalker's journey in Star Wars to Howard Roark (my favorite) in The Fountainhead and becoming your own hero in Fight Club. Understanding the Hero’s Journey helps us appreciate the stories we love and recognize the stages of our own personal growth and transformation
Just like a hero, a trader starts in an ordinary world, facing a call to adventure through market opportunities. Initially, they may hesitate due to fear or doubt, but armed with bad tweets and terrible news outlets they step in to the trading world.
In the initiation phase, traders encounter challenges, drawdowns, blow ups, gain experience, and build friendships. They face significant tests that lead to personal and professional transformation. They either quit or overcome these challenges and this provides rewards, such as improved strategies, knowledge, and confidence. Money is not the main point anymore. You learn the most important thing, that being right does not really matter.
Finally, you come back to the real world. Trading is no longer exciting, it becomes a lifestyle. They continue to face market challenges but are better prepared and more resilient. They make money and understand that these challenges never end but their ego is no longer wrapped up in it.
Keep fighting.
Buying banks stocks always gets a visceral reaction from… everyone! Including myself. However, I always have to remind myself that I am a trader. First and foremost. Because of this I will take any trade that gives me the signals that I am looking for. Also, when everyone hates a trade that I am in, I start getting excited. Up another 4% today. We added it to our long term portfolio last week. Paid subscribers please keep in touch through our chat on Substack until we upgrade platforms for up to date information.
