I find myself in the odd position of not having made any money this week and feeling good about it....well not that good but something happened to me this week. Something mental and emotional....

I can't really define it....but its in the category of something we all know at least a little bit about...

But first a story.....about health.

How many people do I (you) know that was unhealthy and obese and whose doctor was always telling them to eat right and exercise? But they never did....then suddenly the heart attack happens or they are diagnosed with cancer or some other equally frightening disease. Then it seems if they survive the initial attack or diagnosis, they get it together and turn their health around 180 degrees and live a long and healthy life.

I've always wondered why they just didn't eat right and exercise in the first place and avoid all the pain and suffering.

And now I think I've figured it out......its the motivation behind the required change.

Our whole lives we've heard it...take care of your health and fact is, some do. For me, anytime I would attempt to take care of my health, it was always out of FEAR of something terrible happening and I suspect that most of us would rather NOT take care of our health but we do it out of fear. Or we don't do it and still live in fear of what might happen and praying it never does. For me, fear is a poor and short lived motivator. It produces results that are difficult to achieve, nearly impossible to sustain and brings with it no satisfaction. Therefore the changes that results from fear based motivation easily dissipates. We feel guilty but not that guilty.

Fast forward to the present post heart attack situation. I'm not afraid to die. I know this sounds weird but I'm not. What I am afraid of is not seeing my kid grow up. There it is again, fear....but this time its different. Its a fear born out of love. Love of my kid and how desperately proud of her I am. How much I want to be part of her life for a very long time. How much I want to see her graduate from college and perhaps get married and have a family of her own. Love of my wife and how much I want to be with her, even on the days it seems like it would be best if we had never met.....even on those days I want to be with her....

Love is a much greater motivator than fear. Fear can last for a while but it always fades. Love lasts forever and people do things for love they would never do out of fear.

Pre heart attack, those emotions were still present, just not present on the surface of life each and every day. Then the attack happens, suddenly the realization this life really is just a breath away from being over at any moment in time sinks in. Those emotions rise to the surface of life and stay there. I suspect over time, they may fade but perhaps not. Life changing decisions made at times like these can last the remainder of ones life and sustain those emotions indefinitely.

Today, I find the motivation to change my health is constant and ever present. Every time I see my kid, its there. Every time I see coca cola, its there. Every time I don't feel like walking my prescribed distance its there. The motivation of love trumps all the other crap that tries to interfere.

Why doesn't this work prior to the attack? Because the realization of the brevity of life isn't front and foremost in our mind. The vitality of youth, the invincibility we feel carries over into middle age when intuitively we know its not true but we act like it is.

Then the wake up call comes. The call to action and we are no longer complacent. Love triumphs over complacency and we do what we must out of love and joy at seeing another day.

Segue to trading;

Why don't we make the changes we know we need to make? Why don't we do the things we KNOW to do? Why do we continue to act in our own self destructive behaviour patterns?

Answer: Because our motivation is wrong. We are greedy. We are fearful. We want to be right. We want bragging rights. We feel the need to conquer.

None of which are good motivators in the marketplace. Greed kills, fear paralyzes, the need to be right leads us down the path of folly, bragging rights turn into embarrassment, instead of conquering, we walk away defeated knowing victory is within reach.

Our motivation is wrong.

For me, my motivation is switching from wanting to be rich to wanting to be the provider and protector of my family as much as lies with my ability. My intention is to increase my ability over time so that my original motivation and my new motivation are congruent. That by becoming rich, I take care of my family in a more and more efficient, more loving, more joyful manner. Its not about lifestyle, it's about security. It's not about travel, it's about the depth of the experience and the memories it produces. Its not about the house, its about the life that's lived under its roof. Its not about the car, its about the journeys we can take in it. Together.

While money is not the end, it is the means to an end and therefore I MUST do what is necessary.....man up if you will and do what is right. Not right for my ego, or my greed or my fear or my need to win.....I must do what is right for my family. In that I am fulfilled. In that I find bragging rights. In that I find sufficiency.

So back to my mental and emotional change. I can't define it. But I've written about it. Perhaps in time I will identify it with some greater degree of accuracy.


There is more than enough.......

We all love you Brian for all that you do and share. I have had my own health scares of late and can relate, as I am sure many can.

Trading is a great occupation, but living is the true gift and my favorite pass time. Too many people quite literally work themselves to death, never happy, never really enjoying the fruits of their labor. They may surround themselves with expensive toys, but still be miserable. I am speaking from experience.

I owe the act of actually becoming a good trader much more than just trading profits that come with it. In fact I can unequivocally say that the last 6 years or so of my life since I have been going full time on trading, I have learned more about myself than at any other time, and the best thing about that is that I learned what truly makes me happy. I am in my mid 30's so perhaps it is early, or perhaps late, to find this out. But having found it, I have a constant sense of calm now because like you, I am not afraid to die - because I am happy. That's not to say I that I welcome death naturally, but I am at peace with it. And for me it has nothing to do with religion because I am not a religious person. Instead it's just about being happy with myself for the first time in my life.

The act of becoming a trader is what allowed that, or forced that more aptly, to happen. I consider myself a different person these days and am much happier for it.

Thanks for sharing all that you do, I know that it benefits many because I know so many can relate and have faced similar struggles whether it is with trading, health, or just life in general. You are a good friend and a good member of the community, and I am thankful for you, and all the others like you, for making futures.io (formerly BMT) the special place that it has become.

Enjoy life, enjoy living, enjoy your family, and enjoy your weekend!

Mike

Without a broader knowledge of the market and an understanding of the bigger picture you cannot develop a dependable sense and feel for the market. And while these set-ups are dependable to a degree, they tend to make you focus on the few broad outcomes that appear the most probable and probably the most obvious, and ignore the low-probability scenarios. And, its usually the moves you don't expect, that are often the most profitable, and which coincidentally, are often found at the beginning of trends.

However, you must first be able to identify when you have a "clean swing at a fat pitch." And this comes from developing an ability to interpret, and assimilate a much broader base of knowledge and information, than you are currently looking at. But it will be worth it, because you will be able to recognize "low-probability" trades, that have a high probability of being big winners. It will also give you the confidence you need to take trades, press trades, and add to your trades.

Your use of the phrases "low probability" and "dependable sense and feel for the market" is unclear to me.

If you run statistical analyses of setups (patterns) to determine their chances of hitting profit G before hitting stop L and identify contextual filters to know when to trade these setups and when to ignore them, you'll come up with high probability setups that still may look or feel very uncomfortable to trade in real time.

Becoming a successful trader doesn’t happen by accident. It is exceedingly difficult to derive a method that is consistently profitable, and it is even more difficult to successfully apply such a method in actual practice. Near randomness and efficiency in the market almost guarantees failure. And, of course, the principle of ever-changing cycles works to force quick and drastic changes of results sequences when the public happens to get wise to a winning idea. But, you've been able to identify 3 precise patterns and execute trades to position, that demonstrate a statistical tendency behind these patterns. Managing the risk in the trade appropriately, perhaps "adjusting" the position as the trade develops.

On the surface, this appears to be a very positive development, and it is. But it can also be very limiting. When you trade patterns in the market–you actually trade the underlying imbalances that create those patterns, i.e., more buying than selling and the market moves higher and the converse. Patterns reflect this reality but don't explain what is driving price. Without a broader knowledge of the market and an understanding of the bigger picture you cannot develop a dependable sense and feel for the market. And while these set-ups are dependable to a degree, they tend to make you focus on the few broad outcomes that appear the most probable and probably the most obvious, and ignore the low-probability scenarios. And, its usually the moves you don't expect, that are often the most profitable, and which coincidentally, are often found at the beginning of trends.

Compared to trends, range trading, is far more difficult due to the random nature of short term price action and the omnipresent HFTs. Unfortunately, it is exactly in this environment where you are trying to "grind" it out. And if you read Bacon and substitute the market for the track, the "grind" privileges are spoken for and taken. Of, course, any percentage can be overcome by enough winners at fat enough prices. However, you must first be able to identify when you have a "clean swing at a fat pitch." And this comes from developing an ability to interpret, and assimilate a much broader base of knowledge and information, than you are currently looking at. But it will be worth it, because you will be able to recognize "low-probability" trades, that have a high probability of being big winners. It will also give you the confidence you need to take trades, press trades, and add to your trades.