Later this week, my family and I are heading out to Colorado for some skiing, sight-seeing and much-needed R&R.
(Of course, we booked this trip way before the COVID-19 mess… but I’m not going to let a little coronavirus stand in the way of me and my family’s vacation!)
We’re actually revisiting the same area we saw last summer…
We had such a blast and it was so beautiful, we agreed we had to come back to see it blanketed in snow and get the winter experience.
Anyway, I was remembering one afternoon in particular from that trip, it was an amazing day full of tears and celebration and it got me thinking about the upheaval we’re seeing in the markets right now…
And what it’s going to take for us traders to get through it.
You see, that afternoon, my wife, our two girls and I decided we’d hike a mountain trail all the way to the top.
I don’t know about you, but I love exploring the outdoors — my whole family does…
And this trail was just gorgeous, with some absolutely jaw-dropping views along the way.
But it was also pretty dang challenging…
Because the elevation change was about 2,000 feet over the course of roughly 3 miles.
Not exactly the easiest trail to take on…
Especially for my 7 and 8 year-old girls.
As you’d expect, there were moments where one (or both) of them would slow down, get discouraged, and even start to cry, saying “I’m too tired”…
“I can’t go any further”…
And “I’ll never make it all the way to the top!”
Now, here’s the thing…
I knew that both my girls had the physical strength to finish this hike.
But it was a long, challenging road to the top…
And when they looked up the trail and saw how far they had to go to get there, it just seemed overwhelming.
In reality, their minds were getting in their own way… and they needed a perspective shift.
Surveying the trail ahead, I picked out a landmark we could aim for…
“See that big boulder up ahead? You can make it to that, can’t you?”
They looked up, saw the boulder just a few hundred yards away, and suddenly perked up at the thought of a much more attainable goal
Once we reached the boulder, we sat down, drank some water, and took in the stunning mountain views…
Then I picked out a new target, and we repeated the process over and over again…
Stair-stepping our way up the trail until we finally reached the top.
Man, I’m telling you there’s nothing better than the feeling of watching your kids accomplish something that really pushes them out of their comfort zone…
Something they didn’t think they could do.
And so it is with trading.
Especially in times like these, when the headlines are nothing but doom and gloom and it seems like the sky is falling…
It’s easy to get down, discouraged, and feel like you should just close your account and throw in the towel for good.
But these are the times when perseverance and a little perspective shift can be what separates the traders who weather the storm…
From those who don’t.
That means having a strategy in place that you are confident in and sticking to it…
And stair-stepping your way through this volatility one trading day at a time.
Now, I want to hear from you…
What’s your favorite trading style and strategy, and what are some of the wins you’ve had in the midst of this chaos?
And remember, I’m pulling for you!