Michael Marcus Trading Quote
Michael Marcus was a legit trading superstar.
What can we learn from his best trading quote?
His Best Quote
Michael Marcus was a legit trading superstar. He turned $30k into $80 million over a 20-year career. So with those types of numbers, if he talks I listen…
I was looking through some of his best quotes and this one struck me the most.
“If you personalise losses you can’t trade” – Michael Marcus
A lot of trading quotes are just decent sound bites. But what does this one really mean? Personalise losses? Let’s break it down…
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1. Emotional Attachment:
If you personalise a loss, you attach self-worth and identity to it. You can feel shame, frustration, even disappointment. Once you’ve activated these emotions, forget it, it’s game over. You can’t trade mindfully and without influence from emotion.
Kind of like when another car cuts you up at a junction. The calm driver can shrug and go about his day. Just another clown on the road… The emotional driver takes it personally, beeps the horn, gives him the coffee shaker, and might adjust his driving as a result.
We are human beings. We feel emotion. Sometimes that emotion doesn’t serve us, and sometimes it does. Recognising when it doesn’t and doing something about it, is key.
2. Being Objective
If you can master this, you can unlock a new level of trading prowess.
Take a loss:
Recognise it’s not personal. It doesn’t represent who you are as a trader and it’s simply part of the business. A game of wins and losses that hopefully work in your favour at the end of the month.
Today think if you are personalising losses.
It might not be obvious, it might be subtle, but if it’s there, then work on a fix. Your trading will thank you for it…