Gripping too tight to win

You’ve got to loosen your grip a little.

As a trader, I think you’ve got to be a bit careful you’re not trapped in the whole trading bubble.

Where everything you consume is trading-related. Books, podcasts, videos, news, etc.

I like to make sure I’m listening to experts and successful people from other sectors, and see if I can take any ideas they have and apply them to trading.

  • Business
  • Sport
  • Military
  • Music

“How do musicians get into the flow state?”

“How does the military deal with a plan going wrong?”

You get the idea…

So, the other day I was listening to an interview with Jason Fried the founder of business software called Base Camp.

You’ve probably never heard of it, I barely have. That doesn’t matter.

But it’s a company worth around $100 bln, so by any metric that’s success…

Whenever a successful man or woman speaks (yes there are only two genders…) I listen.

Anyway, he said something that intrigued me…

“Making progress requires you to release a little, to lighten up your grip”

He went on to talk about business and how trying to control everything dooms you to failure.

You need to relax your grip a bit and just let things happen.

Like playing an instrument or golf.

If you’re white-knuckling the drumstick or the club, your performance will suffer.

“Hold the golf club like you would hold a bird. Tight enough it won’t fly away but not so tight you’d hurt it.” – Jack Nicklaus

That’s so perfect for trading…

We are ALL guilty of gripping trading too tightly sometimes.

Trying to get the perfect entry, fine-tune the exit, optimise the stop, make more from the winners, develop a perfect process, journal and log everything, it’s never-ending…

But that’s gripping too hard.

That’s white-knuckling the club.

It’s too much – we need to loosen the grip a bit.

There’s a load of luck involved in each trade, the outcome is uncertain, and it’s totally impossible to know the result of each trade.

All we can do is follow the process, control what we can control and play the game.

A tighter grip won’t get us there any sooner, or make us more money. In fact, it will hinder the whole journey.

So relax a little, just accept it’s an imperfect game we are playing.

Sure, put in the work needed, but don’t kill the bird…