Tuesday, January 4, 2011 at 5:42 PM Posted by Zachary A. Musso 8 Comments

"I've lost $2,000.00 over the past two days and it sucks."


As I drove home from the dermatologist today, I called my mother.  This is a woman who's advice, although sometimes not what you want to hear, is absolute gold.  She listened to me complain about the last two trading sessions as I drove down the road towards the local Subway.  After I was done, there was a slight pause, and she said:
"It doesn't sound like you're enjoying yourself - maybe you need to enjoy sitting at your desk and not treat it like something you have to do day in and day out."

I was at a red light and that sentence ate at me.  She was so disgustingly correct that it scared me.  When my friends ask me if this is my job, I always answer them with a yes.  The problem is, what I do at my desk is not a job, but rather it is a career.  You know that you will end up trading for your entire life when you call it a career - a career is long-term, while a job is just temporary.  A job is something you go to every single day, not because you want to, but because if you don't there's not a smidgen of food on the table to feed yourself, your family, or even your dog.  A career sets the foundation for you later in life - a career is where your passion is, a career is where you don't have to work but you want to work, a career is what you see yourself doing 10-20 years down the road.

I have been questioning people left and right today as to what books they suggest and what advice they can give to get me out of my two month slump.  I was given fantastic advice by @eminiplayer and @FuturesTrader71, but I found a new person to follow today when @eradke jumped on my advice bandwagon.  I decided to check out his blog, and this is what I came across:


Pure gold.  I then decided to go on a blog reading binge, but after reading @chicagosean's most recent blog post, I found no need in reading any others:


Towards the end of your basic trading learning curve, you think you know EVERYTHING about ANYTHING financial markets.  I'm two years into this game, and today was the first day that I realized I don't know shit about it.  Of course, you learn your technical skills and you learn how to control emotions and all that jazz, but when you're in those final stages of your basic trading learning curve, the most important thing you learn is that you need to learn from others - if you stay on the same track of learning by yourself, you will limit your potential.

So find a mentor(s) and be a sponge - like Sean says at the end of his blog, "It can be done.  Do it."


ZM

8 Responses so far.

  1. Great post sir! Thank you.
    @Swimngolf

  2. Thanks John!!

  3. i lost 67,000 in 2 weeks in august. it was tight..

  4. Great blog.

    I like the last sentence.

    "So find a mentor(s) and be a sponge - like Sean says at the end of his blog, "It can be done. Do it."

    I am new the market as well to be frank, I learn more in the past four months I met my mentor Michael Bigger @biggercapital than my entire mid 2009 - mid 2010 trading.

    Great to learn from great traders!

    He said that same thing on his blog be a sponge! http://bit.ly/d1ReZx

  5. SellPuts: Makes my loss seem like absolutely nothing!! It's that kind of stuff you just need to pick yourself up your bootstraps and use it to your advantage... What doesn't kill you makes you stronger.

    ArisDavid: Sponges my friend, they are VERY important in this game!

  6. Here's a different take -"you" have been a resource for me over the past two months since i found your blog. I am a new trader (2009) as well but long time investor. I came to you thru someone at Bulls on Wall street - @kunal is my mentor.

    I realize more and more each day that everyone struggles with the same issues. Mainly the human emotions. I don't think we will ever tame them but should always have them and know when they are there and what the next steps is to work thru them. I will say from what I know you are successful. so why did you loose money?

    BTW - your Mom is pretty smart - your number one mentor no matter how old you are on the subject of Life.

  7. Fantastic post.

  8. Wideglide: Thanks for the new outlook my friend, and tell Kunal THANKS (I tell him every time I talk to him). I told my mother this week that I wrote about her on the post - she laughed and said, "Why? I've been doing this for 19 years and this is the first time you've ever listened!"

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