That Voice Inside Your Head

We all have sayings we love to repeat to ourselves. And when we say them out loud, let’s face it, it can be irritating to others. That is actually my goal when I repeat certain sayings to my students. I want them to be annoyed with me and finally listen and adhere to what I am saying. My one-on-one and group coaching students will tell me they hear my voice in their heads. I love it!

I want them to know how important the lesson is, and I want them to hear my voice when the situation arises and think about what they need to do or consider. I am going to cover three of those sayings here. 

Odds on Your Side

The first saying I like to repeat is borrowed from a quote from Jim Rogers. When I say, “money lying in the corner,” it means I want to take a trade I deem puts the odds in my favor and feel I have to take. Let’s face it, as traders we try to put the odds on our side to extract money from the market. This can be from technical analysis, fundamental analysis, implied volatility or a combination of everything. Clearly, there is no true money lying in the corner with any trade. What I am trying to suggest is that you feel confident putting this trade on because you deem the odds to be on your side and you are taking the trade for no other reason. It is a great reminder to think about the trade before execution.

You Are a Risk Manager First

Many of you have heard the saying that the first rule in trading is to preserve your capital. And most likely you thought, no, the first rule is to increase your capital. Who could blame you as a new trader? But once you realize how trading works, it starts to make sense. Essentially when you think about removing risk first, profits are sure to follow if you are managing things properly. That is what I try to ingrain in my students’ heads, and it needs to come instinctive. If you properly manage your trades and know when to remove risk, trading can become a whole lot easier.

In almost every presentation I give, I include the saying “you are a risk manager first.” That is the whole and undeniable truth about trading. Clearly, you need to risk money to make money. But if your central focus is on being a risk manager, you are miles ahead of most traders. This all stems from you having a well thought-out and written trading plan too.

Hear Me Out

These are just a few sayings I like to use in my teaching and, let’s be honest, my everyday life. When you hear my voice in your head, you will thank me later.

John Kmiecik

Senior Options Instructor

Market Taker Mentoring

Share This Post:

Facebook
Twitter
LinkedIn
Email

One Response

Leave a Reply

Your email address will not be published. Required fields are marked *