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I am starting to believe that successful traders focus on what their strengths are and not their weaknesses. Watch this and replace "climbing" with "trading".. Most dangerous mountain climbing, ever. [VIDEO]
"Its really about being in an environment where there is a lot of risk and controlling yourself. If you can control yourself you're going to be ok. That's the challenge"
Great video on facing fears and evaluating all your risks before proceeding. These climbers need absolute confidence in their abilities.
I like the quotes "pushing past the fear takes a lot of thought, a lot of preparation" and "having to figure out the right mindset [when facing the consequences of death or financial ruin]".
And for the understatement of the year, "that's always been the scariest part in climbing: the falling" at 4:40. Yeah, there's that! Being a trader is scary enough.
The video is great, but honestly I was scared watching it.
I do not believe in any strategy that works well a hundred times and blows your life or your account the hundred and first time you use it.
Free climbing is similar to trading without a stop. I am not trading for adrenalin, but to make money with a high probability. Not going for Martingale strategies either.
Preparing to move to the Himalaya, last winter and spring I read many accounts of mountaineering - anthologies, books, web accounts, etc. What struck me, over and over again, was that the greatest climbers in the world, following perfectly executed techniques, could be crippled or killed in an instant by forces over which they had no control - falling rocks, avalanches, sudden changes in the weather, the body simply not holding up properly.
The risk of ruin is ever-present. Accepting the risk means accepting that it not only can but does happen, and often.
I stick to hiking the lower trails - it'll never get me to the top of the highest mountains, but the ones I get up are high enough. (OK, I did do some vie ferrate in Italy last summer.)
I try to keep to that in my trading, though I'm still tempted by the heights far too often.
That was a great video. thank you for sharing. Really does hit home about controlling yourself to handle Risk, as the risk element cannot be avoided. The same as trading. Excellent.
