9 Ways Boxing is Like the Stock Market
9 Ways Boxing is Like the Stock Market
Hey traders! How are you?! It's another beautiful season of stock market trading and weather (especially here in Nashville, TN) I just got back from Denver, CO where I met with some other fantastic traders. One young gentleman in particular, Garrison, was a passionate and spirited individual! Turns out we had had something else in common, other than our age and trading passion. He also enjoys boxing as a hobby. (I've been interested in the sport since the age of 10). We shared some stories and immediately the comparisons between boxing and trading began to emerge.
Here are the 9 things we comprised whilst eating appetizers, sipping on beverages and enjoying hearty laughs with other Real Life Traders that blissful Sunday afternoon.
It takes endurance: Boxing is an intense cardio workout. Anyone can box for 20 seconds, maybe even 2 minutes. But that fifth minute starts testing your endurance. Trading is the same way. Anyway can throw money into the markets. If you want to trade for a living and consistently make money trading, it's going to take years to hone that craft. Why years? Name any other profession where you can pick it up and just start printing money in just mere weeks… I thought so.
It's not about winning, it's about not losing: In trading, risk mitigation should be your key and primary concern. Do not focus on making money, focus on not losing it. In boxing, if you can simply outlast your opponent, you can win. Avoiding getting knocked out is also an accomplishment. I've been knocked down in boxing, but never knocked out (yet). Your coaching will always say 'Don't leave it for the judges to decideâ€, but if you can't fight, you can't win. So, don't lose and you still have a chance.You will get hit: Well, this is obvious right? HAHA! Figured so. I'll move onto the next one.Protect yourself: This one too, also tied to risk mitigation. But, more importantly, if you're new to boxing or trading, start small. Always wear a mouth guard in boxing! And in your first few years, you want to wear headgear as well. Your health is always a primary concern. It's important in trading, too! May is Health and Wellness Month at Real Life Trading. Doing a lot of sitting and starting at screens can be disastrous for your health. Make sure to protect your account and your heart! Get up and move; often!
It's a great idea to train with a mentor or coach: How will you ever learn the proper way to box? Get trained from someone who has experience! When I first started trading, I went into many trading rooms and spent thousands of dollars to have traders coach me, help build my trading plans, look over my shoulder and mold me into a professional. Every successful trader, business owner or boxer has had a mentor. If you don't have one, get one. Even if you're already making money! Find someone who is better than you are. You'll never be the best! Bill Gates and Warren Buffett meet often and they also make sure to spend countless hours reading, studying, asking questions and always trying to improve. Always strive to grow!Don't get emotional: If you are not profitable in trading, it's because you get emotional. Some how you are emotionally vested in whatever you're trading and something deep down in your psyche stresses you out. Maybe, it's the fear of losing money? Maybe the fear of being wrong? Likely has something to do with one or the other. If we ever need to have a session to find out so we can create rules to avoid that fear, email me and let's schedule something. In boxing, you've got to be controlled. If you get too angry, mad or upset, your opponent has beat you. Take the punishment and endure!People will think you're a tad weird: Honestly, people call me weird often, especially if they're just meeting me for the first time. I take it as a compliment. Trading the markets and having an unwavering passion for them, like you do, is odd to people. Hey, so is liking beets, but people eat them. Don't care about what others think. Do what makes you happy and conquer what doesn't make you happy. Live out of your comfort zone sometimes. Do new things, take on new challenges and grow!It takes you our of your comfort zone: Losing money in the markets isn't a comfortable thing. Neither is getting punched in the face by a 6'7â€ Russian dude who benches 415. But how will you know what you're made of, until you face your fears? The same boiling water that softens the potato hardens the egg. It's about what you're made of, not the circumstances. Keep fighting, learning and growing!
You're fighting an opponent that's always moving: The stock market moves and changes every second of every day while it's open. We have to adjust. We will never be able to control the markets, but we can control ourselves. Look to remove simple variables in your trading like user error when inputting trades into brokers. That alone will save you some money. Create your trading plans for what the stock will do in the future, not what its doing now. Do your best to always approach each obstacle with the knowledge of how you overcame the last one and the joy of how it felt when you're on the other side!
I'm sure many of you likely have zero interest in trying out boxing. My thought is, why not? It might bring out that wild, spirited, spontaneous spirit that might have gone dormant back when you were a child. Remember when you danced like no one was watching? You were the smiling happy kid on the wooden dance floor at the wedding, spinning and kicking to the tunes of Elvis or Michael Jacksons' Beat it.
Definitely a large take away and the 'Ah Haâ€ moment I had was realizing that in trading we do have to be aggressive. We have to have that killer mentality. Eat or be eaten. But we also have to recognize that boxers are not in the ring full time. They understand that there are appropriate times to box. They come in, do their work and leave. As traders we must remember there will be times that we shouldn't trade. If the trade isn't there, be patient. Wait for the perfect, pre-determined time to strike.
Thanks again for reading, my friends! You are each a rock star! I'm always open to suggestions for articles and videos. Remember, if I teach it, it's free for the world! Let's continue to enrich lives together!!