[00:00:00] I want to do a quick one today on fear of missing out and on broadening your perspective
[00:00:07] to different but super important things maybe linked I guess.
[00:00:11] So the first thing about missing out you're never actually missing out at anything because
[00:00:15] you're missing out and everything all the time and it's interesting to think about it
[00:00:18] because since we're just we're here looking through our experience and we live in whatever
[00:00:23] state we're in or country whatever we're doing and we're looking at whatever tickers
[00:00:27] we're looking at if you want to talk about trading or business opportunities whatever
[00:00:31] and you think that you're missing something because maybe you looked at it three months
[00:00:35] ago or there's a move or someone told you something and it's super emotional and upsetting
[00:00:39] when you feel like you should catch something and you don't catch it especially if you
[00:00:43] lost on it previously but actually you're always missing something all the time because
[00:00:48] if you think about how many billion people that are out there everybody is looking at
[00:00:52] something at all times right so there's no way you can see and know what they're all
[00:00:57] looking at so in some sense is if you think about it you're actually pardon the bus here.
[00:01:05] If you think about it you're actually missing everything all the time because you're one
[00:01:12] little you know one person in this massive thing and then you missed something but well
[00:01:20] everybody's seeing all this other stuff that you're constantly missing so by default
[00:01:23] you're only you're only seen like the smallest amount so who gives this shit if you
[00:01:26] miss something it's just such a small little tweak and sometimes having that bigger perspective
[00:01:31] which is going to lead into my next point helps me feel better about especially when I invest
[00:01:37] in something like I invest time energy and I miss it it can be painful but at the same
[00:01:43] time I always say to myself well if you were really convicted or if you were trading the
[00:01:47] right size you wouldn't have missed it so you obviously missed it because you made some kind
[00:01:51] of mistake or if you were distracted by your personal life or something else you weren't
[00:01:57] focused you weren't conscious all things that you can get better and you can improve that
[00:02:01] that led to you missing it I used to get so pissed off when I missed stuff so upset the
[00:02:05] injustice of it and all that stuff and now it's like well there's I can give you a couple
[00:02:10] of reasons why you can go to the first reason about you're always missing everything in some
[00:02:14] ways if you think about that and then the other thing is you know be you get be aware
[00:02:20] of your surroundings be aware of your person your energy your your ability to be there when
[00:02:24] you need to be are you trading too big like I talked to someone who's like I bought the crypto
[00:02:27] at the bottom and got out of some mad and it comes after we talk about it for a while well they were
[00:02:33] trading really really big so when you're trading that big and you buy Bitcoin at 20,000 it goes to 18
[00:02:38] and back to 22 and since the 21 all of a sudden you're like that shit I'm going to take this off
[00:02:43] for 500 points and then it goes to 60,000 in your mad well your time frame was off your strategy was
[00:02:49] you know your mixing time frames all that stuff's going on and you can continue to make those
[00:02:54] mistakes I've made so many of those mistakes over and over again or you can decide that like
[00:02:58] I'm gonna do this better going forward with a clear plan of this is my size this is my objective
[00:03:03] and if you have more like if you've made money in other jobs other places and you're trading
[00:03:09] then it's like maybe it's a long-term bucket you say I need to buy Bitcoin in Uranium and
[00:03:13] I don't know gold and solar and that's a bucket against inflation and I'm going to put money in
[00:03:19] that every month great 5 10% of my net worth 20% of my net worth whatever that's a plan you can
[00:03:25] stick with that plan you can handle swings in that plan you have a system but when you just start
[00:03:29] bombing away huge size and then it flips you out and goes out without you a year later
[00:03:34] that's just that's a different problem so you can eliminate a lot of this stuff just by having
[00:03:39] a better plan going into it so that's the FOMO part the other part is broadening your perspective
[00:03:45] which is kind of the first thing I said about the FOMO but a little different in that like if you
[00:03:49] think about so you never want to make yourself wrong for feeling something like if you feel like
[00:03:54] shit about something or you feel mistreated you missed a move whatever relationship work it doesn't
[00:04:01] really matter you have to I feel like you have to suit yourself and kind of get through that process
[00:04:07] without making yourself wrong because if you deny it and make yourself wrong or you don't like
[00:04:10] that you feel that way it just gets worse you know it's like this is bullshit not fair I don't like
[00:04:15] it just feel worse and worse but if you pretend like it didn't happen and just push it down
[00:04:21] that doesn't do well because now you didn't say you just liked it but you pretended it didn't
[00:04:26] happened so when you pretend it didn't happen then you're just lying to yourself you're just
[00:04:31] bullshitting yourself and you don't feel good so what ends up working is to be for me one of
[00:04:37] the things that has helped me a lot is to look at the bigger perspective that's why I like
[00:04:43] these I like space like space exploration and talks about space because it shows us how small and
[00:04:47] significant not insignificant but how small we are and relative to the universe like on earth and
[00:04:52] just walking around in bodies on earth and how small that is compared to everything else
[00:04:57] just so so freaking tiny it's like a smaller than a speck of sand on the earth in the whole thing
[00:05:02] that what we're doing here and when you think that way it kind of like for me it kind of alleviates
[00:05:10] some of that personal focus on Brad's life and they'll struggle is in the unfair the things
[00:05:15] that aren't fair and things that didn't go right and all that and just kind of clears it
[00:05:19] and another like example of that would be prisoners like I was reading that prisoners
[00:05:26] when they had that small cell especially ones in the small quarters they then they put like the
[00:05:31] cones in a certain spot and everything's like it's very laid out and organized and fights will
[00:05:36] break out things will happen because little things are out of place because everyone's focus is so
[00:05:41] narrow that all we're looking at is a little setup and a little cell which makes sense because that's
[00:05:46] their whole world which is small little focus but when you start broadening your focus to you know
[00:05:52] to universe or whatever other people other lives other friends family even you start to feel
[00:05:59] less of a burden with your own your own ever you know ongoing bullshit every day so I'm going
[00:06:07] through a little bit of a bumpy ride with my trading right now up and down up and down up and down
[00:06:11] and I'm kind of I'm using I'm drawing on some of these things to make me
[00:06:17] to handle it better and the run could happen anytime right everyone's doing something different
[00:06:23] all the time but thinking this way has been a lot more helpful than kind of the opposite which would
[00:06:28] be you know you should be doing well or you know you have these few things that you screwed up
[00:06:33] and you would have been doing better or and then also just getting so focused on what I'm doing
[00:06:39] and it's like I've got a great family and I'm healthy and I you know it doesn't you don't want
[00:06:43] to get the trading but the focus is so strong on that one thing like you know you get something stuck
[00:06:50] in your eye and all you can think about it something stuck in your eye and life sucks until you get
[00:06:54] down of your eye and I think sometimes with your eye maybe you've got to get it out but sometimes
[00:06:58] with this trading stuff and just some of the emotions are under the category of bugging yourself
[00:07:03] about stuff that you don't really need to one more thing to add that I forgot is on my website
[00:07:10] tradinglifepodcast.com I cleaned it up a little bit and I now have the ability to comment on
[00:07:16] any podcast posts so you can comment on whatever you want on there and I'll check those
[00:07:22] and chat back so it's nice that people want to leave voice messages on here I can answer questions
[00:07:28] and talk about things I enjoy that but if you don't want to do that and you want to just type
[00:07:33] you can comment on the website thanks for doing that if you do and if you like the podcast please
[00:07:38] leave me a review that would be great too