The idea of this blog article came about when I was trying to figure out my current location to the train station along the street in Tokyo, Japan in 10 degrees of winter cold.
Looking at the city and Google map, I got lost trying to get to my familiar Shinjuku Station.
This is because this time I was staying in another part of Shinjuku that I am unfamiliar with. As such I told myself that I must get to the Shinjuku Station as my anchor for my travel.
It was then that I suddenly remembered what my mentor, Paul J Meyer, told me.
He told me, “knowing where you are is far more important than knowing where you want to be.”, and “having the most updated map in hand is still useless if you cannot find yourself on the map.”
How true he was.
I knew where I was going. But I just could not pinpoint my current location on the map to lead me to Shinjuku Station to start my journey.
At times, getting lost in our travels can be a fun thing to do. But this time I need to get my family to Ghibli Museum at 10am without fail. That was our entry time.
Thankfully, we did it just in time. We had a great day at the museum. Bought a lot of unique stuff, watched a movie, and taken a lot of pictures as well.
So, what can this experience teach us in our life and our trading career?
Most are Lost
Not knowing where you are and trying to get to somewhere is a recipe for disaster and failure.
Most people are more excited to know where they want to be than knowing the current resources they have to get them there.
The only reason I can think of is that most people are in denial of who and what they really are. They are in denial because truth hurts, and most cannot take it. As a result, they are lost in life.
Living in denial has not made anyone rich or successful. You will not be the first one.
Having worked with many traders in my trading career. Whenever I asked them why they wanted to be a trader, they would answer me, “to be rich.”
When I asked them how rich they want to be, they would answer me, “as rich as possible.”
When I hear answers like these, I know I had been talking to a lost sheep. I know the probability of them getting rich or successful in anything is minuscule.
Not knowing the truth
Not knowing the truth about yourself and your current situation, is similar to you not knowing your current location on the most updated map. You will be hopelessly lost in your life.
Seminar leaders and motivational speakers always talk about the idea that you need to know where you are going. Your ideal future. This is only half of the equation. The other more important half of where you are now in your life is missing from all their seminars.
This is probably the reason why decades later, you still see them delivering similar seminars. They are like hamsters in a spinning wheel. Working very hard, doing the same thing, and stuck in the same location. In another word, they are lost themselves.
To be a Good Trader
To be a good trader, you must first drop the idea of making money from your mind. Instead, focus on what you have and who you are now. Do you have the materials of a trader? This shall be your starting point.
After you have gone over the pain of knowing yourself, then work or develop or follow a trading strategy that will put the odds on your side most of the time.
When you have found the answers to the above 2 items, money will start to flow into your life like water filling up the well.
Patience is a Virtue
It takes time and courage to know yourself if you want to be good in anything, especially in trading as a career. Most people DO NOT want to go through this process critically. They lack patience. They just want to get to their destination as soon as possible. To them, their current location is NOT important. Their destination IS.
As I have shared my experience earlier, without knowing your location, you are lost. And it will take you a lot more time and efforts to get through a lot more troubles to get you to your destination if your ever get there before you decided to give up.
This is so true in life, especially as a trader. This is the reason why most traders are failures in trading even with a great trading strategy.
Socrates once said, “Know Thyself, the unexamined life is NOT worth living.” I think there is a lot of essence in this quote from a great philosopher.
I hope all readers will learn from this quote and improve our lot in life. It is simple to think about what he said but not easy to do.
As for me, I have paid the price to reach where I am in my trading career today. I am thankful for it and I believe you can too if you are willing to pay the price as well.
Thank you for reading my blog article.
Success to you.
CEO & Founder, ALGOINSIGHTS PTE LTD