Feb 26, 2019
Short Stops - #33: What It Takes to Become a Professional Athlete (Yeah, you read that right.)
Hosted by Edmund Lee, President & CEO of the Caylum Trading Institute, Short Stops is your weekly stock market update featuring the top trading news, tips and stock picks in Metro Manila and around the world.
“You make sacrifices day in and day out to learn and improve, not knowing when success will come but you have to take the short term loss for a longer term gain.” - Tonino Gonzaga
We’re not here to talk about trading today - you have been warned. We’re here to delve into the minds of professional athletes and to find out what kind of conditioning it takes to achieve ultimate results. Dr. Brett Steenbarger, himself, wrote an article for Forbes that said, “The development of trading expertise is not so different from the development of elite performance in athletics.” Thus, we’ve brought in our star players, Kyle Dandan and Tonino Gonzaga, two of our graduates from the Caylum Recruitment Program and who are now traders under COL Financial’s Independent Financial Advisory group.
So while Kyle and Tonino talk about sports, we’re going to directly translate what they have to say into terms that our professional traders can relate to:
1. It starts with passion. Trading as a career must be voluntary, not forced. You cannot opt to become a professional trader just because it is the current trend, the market is up, or because people say you can make easy cash quick. With that kind of mindset, you will be out of the game within less than a year.
2. Preparation is everything. If you’re not ready physically, mentally and emotionally to trade, you’re never going to win.
3. You need a team, a support system to improve your skills and reach that level of performance. They will hold you accountable and they will look at your trades without bias.
4. Review your tape. We’ve said it time and again - keep a record of your trades, track your profit and loss, measure your statistics. Find your best and worst setups.
5. Ang pikon, talo. Nothing to translate here - ang pikon, talo talaga.
6. Slumps happen. You cannot just give up. Continue to be religious with your routine to improve daily because even if you’re not getting the results that you want now, the process will matter in the long run.
7. Accept your role and tame the ego. The Best Trader, the Superstar, the Champion - these are nothing but titles and labels that do not define the performance of your portfolio. If someone makes a windfall profit and you miss out, or others are particularly stronger when it comes to momentum plays and speculation, that doesn’t make you any less of a trader. The only person you have to compete against is yourself.
Get your next trading insight and find your baggers right here on Short Stops. Powered by the Caylum Trading Institute.
Record Date: FEBRUARY 26, 2019
Introduction Music: (credits to)Vodovoz Music Productions on YouTube