Are you ready to set and break limits in your life? I took a 70-mile backpacking trip from Ohiopyle State Park to the Conemaugh Gorge near Johnstown by myself. I learned a lot about myself and gained some insight into life in general. While choosing trading strategies and planning an epic journey may seem very different, these things actually have a lot in common. Success in both trading and the wild will require careful economic calendar planning, trading discipline, and a willingness to trust your instincts.
In this episode of How To Trade It, I take a different route than our normal episodes. I’m going to share three of the many things I learned on that trip that changed my life—that YOU can apply to trading.In this episode of How To Trade It, I share what a 70-mile backpacking trip taught me about trading. Check it out! #stocks #trading #StockMarket #Investing #DayTrading #StockPicks #Ohiopyle Click To Tweet
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- [0:27] Journal and study your journey
- [2:54] Point #1: Maps are important
- [10:46] Point #2: Embrace perseverance
- [15:44] Point #3: push your limits
Lesson #1: The Importance of Maps
The 70-mile trek from Ohiopyle State Park to Johnstown isn’t something you can just jump into without thought. Before I took the trip, I laid out a large map and took notes. I used it to plan how far I’d travel, what supplies I needed, when I’d leave, where I’d take breaks, where I’d eat, where I’d finish the day, etc. I created a roadmap from the first day to the last.
How does that apply to trading? You NEED a map to strategize how you’ll get to your goals. If you don’t have a map in life, you’ll go off course. It’s important to write out plans, purposes, and visions. A trader needs a long-term plan in order to break it down into short-term goals. There are also trading plan software that can also be of assistance.
I got off track 3 times during my trip. When that happened, I had to consult an additional map that I used to handle some of the smaller details. I’d calculate how long I’d been off course and how to get back on track. It was dialed in and gave me direct insight on a smaller scale.
This particular trail has mile markers you can use to track your progress. I’d get to the mile marker, look at my watch, and gauge how long I had to make the next mile. The terrain ahead determined the speed of the mile. I averaged a 27-minute mile, but on a flat piece of terrain, I could take 19 minutes.
When the markets are rewarding you, you can have a nice windfall. When you’re struggling and times are tough, it’s a slower mile. Every time you hit a new mile marker, you reset your clock and move on to the next goal. If you can tell you’re off course, you evaluate and change your plan or get back on course.
Just like my hike, you should have a big picture in life where you set mile markers to track your goals. You can check every month to see if you’re on pace and on-track. I had a lot of information and could see that my days went according to plan or even ahead of schedule. I planned conservatively, knew my limits, and tried to beat my plan.
Point #2: Persevere Through Obstacles
You have to have perseverance through tough times. I got hit with a day where it stormed the entire day. I was soaked to the bones. My fire-starting gear was wet. I had to push through the rough terrain that was slippery and difficult to navigate. I was sore and in pain. But I had to endure, I had to push through and follow my plan.
That will happen in your trading journey as well. You’ll have to persevere. If you see an end in sight on your map, it can help you push through. Trading will be challenging, but having a big picture to look at will help you move forward.
People place value on suffering, trials, and tribulations. But if you don’t have an end goal in mind, you’re suffering for nothing. If I didn’t have a strategy for shelter and food, I’d die on the trail. Perseverance without a good strategy is foolishness.
You have to suffer for a reason. Blowing up your account over and over again until you find success does you no good if you don’t have a plan to move past the mistakes. You have to be willing to change your strategy. You have to question if it’s really working. You adjust your strategy and keep moving onward.Something I learned on a 70-mile backpacking trip was to persevere through rough terrain. How does that apply to trading? Listen to this episode of How To Trade It to find out! #stocks #trading #StockMarket #Investing #DayTrading #StockPicks… Click To Tweet
Point #3: Push Your Limits
There are no limits beyond the limits of our own mind. The first day on the trail I did 6 miles. I started slow and kept pushing myself to hit higher goals each day. Once I crushed that first barrier, I set a new barrier that was much further away. Next time I come back to this trail, I’ll train and be more prepared and push myself to do 22 miles a day. The limits we think are huge seem smaller after the first mountain.
You’ll be shocked at how many barriers you continue to break. The limits in trading are limitless. The limits in our life are limitless. The opportunities that we have are limitless—for those people that have a map, that has a plan, that are using mile markers, that are persevering through the tough times, and using their strategy to get to where they want to go. The limits can be easily broken.
You have to keep pushing forward to the next level. That was eye-opening for me. I will continue to break barriers in my life. I’m going to make it a habit to bust through barriers over and over again. To hear the full story and other insights I learned on my backpacking trip, listen to the whole episode of How To Trade It.Don’t be afraid to push your limits. You’ll find that you can break endless barriers if you put your mind to it. Hear more of my thoughts in this episode of How To Trade It! #stocks #trading #StockMarket #Investing #DayTrading #StockPicks… Click To Tweet
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