[00:00:01] Hello everybody, it's going to be back on here again. We have a fun week ahead with the elections and CPI announcement.
[00:00:10] I don't see anything that excites me at the moment in the short term but I was just talking to Brent and we were discussing how there's a lot of negativity out there and everybody seems to know the talking points of the negativity.
[00:00:24] And while things get much worse down the road and I don't really try to predict that because it doesn't seem to make me any money to do that.
[00:00:33] I think that the market would probably like to grind higher here if people aren't going to shoot each other in tip over voting machines. And if the CPI isn't just going to absolutely blow up to the upside again, which I think both things can be awesome.
[00:00:47] I think it's a good thing to see. Ready to not be as bad as they were but we'll see anyways. I'm going to wait and find some setups if they come after that stuff passes or during that stuff.
[00:00:58] And it kind of leads me into my talking point today which is just flowing with life more and I think it's such an important point because I'm talking to another guy who's super motivated these days in the early 20s constantly drawing up processes and structures and exercise and doing breathing exercises and trying, you know.
[00:01:17] Different psychedelics and everything you can do that get an edge or a progress or a grow spiritually financially physically everything.
[00:01:26] And a lot of us are like this, we're always trying to keep pushing and growing but a lot of times the real magic of life comes from just having the intention to do that and then dropping it and staying in a good state of mind and staying loose and relax kind of like a flow state of sports or athletics or anything like that when you're loose and you relax and you're not really.
[00:01:46] I'm going to use the car here and you're um it just comes to you but when you're when you're on geared up to try hard doesn't work well.
[00:01:54] So that goes back to my previous podcast on sizing so I've been back in the market the last two weeks and I've traded really small versus my old self and I've had more success instantly because the losers are just who cares they're small I can get past them or have a loser and it comes back and all of a sudden it's a winner and I thought that was a little bit strange and then I sit with it and I'm adding to it and it's my biggest winner the week.
[00:02:15] I can feel the market and I can see things and it's just funny how that how that works when I can still have a scenario or a thesis or an idea I always have that but it's just a it gives you that open mindedness to let go a little bit not squeeze so hard kind of like a relationship for when you're in front of dates and somebody and you're chasing and squeezing and texting.
[00:02:34] Just it's not an attractive quality but when you're a little bit less reachable people want to be around you more when you're less a little bit more mysterious maybe and I think. Maybe that doesn't make sense for this but I think it does make sense in some ways.
[00:02:48] Basically I'm trying to have a little bit of momentum and that pushed too hard and that squeeze too hard and if I can stay feeling good about my direction every day because taking big losers doesn't you know good can impact me from any days and if you stay away from that then.
[00:03:03] You just keep finding ways to do well. Thank you so much for your life synchronously show up you talk to people you get ideas you don't hold them tightly and then all of a sudden you know you'll know when to increase your size.
[00:03:15] At my old firm at Chicago we used to everyone tried this linear you make money three days and a row in your size goes up and then we go ask you know from more size.
[00:03:23] And it's so stupid because just because you made money three days and a row doesn't mean the fourth day isn't going to be a shitty range day and you're going to have a terrible day I'm bigger size.
[00:03:31] We're going to give it all back sometimes that means you're trading well there's going to be 30 good days in the road but generally speaking it doesn't work out with.
[00:03:38] And some people might ask especially when you're struggling because when you're in a bad mindset you're in a high beta brain wave with blood goes to your extremities and you're basically.
[00:03:49] In fear you know that's the mechanism to run from a attacker and that training can do that to you regularly and when you're in that mindset you want to fix it you want to trade bigger how am I going to be able to trade bigger how am I going to make any damn money.
[00:04:00] If I got this asshole on this podcast telling me that I have to trade so small how am I ever going to grow.
[00:04:05] I've done well lately can't I increase it and the answer is it's the answer is is incrementalism it's just it's it's just that you'll know when to put on more size kind of by accident and you'll just naturally go up.
[00:04:17] And it always happens if you're doing the right things I've been through this so many times and I got away from it because I started to have some success and then I started to think I need to trade way bigger.
[00:04:26] To move to the next level and then I held that size I've seen this happen to a lot of people who are good traders and it creates a really big downfall and you have to come back from that and rebuild yourself and.
[00:04:38] It's just because the negativity and the opportunity cost of getting hit on the bigger size.
[00:04:44] Works any ambition or good energy to come in the next day and see things clearly because you're messed up in the head and that's I mean you could look at it and argue with a spouse or relationship when you blow up like that when you create that damage.
[00:05:00] You make some time to rebuild that trust in that calm and so that piece or we've all been anxious for. You know a long time and you feel that tight feeling in your chest where you can't really relax and you're doing the dishes as fast as you can.
[00:05:13] And when you get in that state it's hard to just quickly get out of it right away because you push past that threshold.
[00:05:19] So if you can figure out where that spiral starts and you start picking it off ahead of time or building the routines and habits where you don't go there as much.
[00:05:28] You're doing the work for you like you're getting in front of it and you're not having to do that heavy lifting of basically sitting through it and laying past so.
[00:05:37] I think for me right now and this guy that I was talking to who I mentioned who is very ambitious with everything reminded me a lot of myself when I was younger and I'm still like that but getting less so getting more towards.
[00:05:50] I'm trying to be open to just the the trades that show up that I don't expect those are always the best ways. It wasn't you don't see coming we can't plan for it.
[00:05:59] You can't scheme for course you want to be aware of things and have setups in your mind understand big areas levels narratives but.
[00:06:05] Just not reading so much junk content so much for your content being mentioned to it or turn all that shit off and focus on what you do well get in your own world. Play some relaxing music during the day whatever you have to do your exercise.
[00:06:18] I've been meditating I have different approach and meditation side tangent here I used to after the sound retreat I was doing it an hour twice a day. Mill of militant checklist type get up do it every day it's meaningless when you do it that way just you're basically.
[00:06:34] You're you're basically shooting and gulping yourself into a practice that you don't even understand why you're doing it versus like connecting to. Connecting to something more peaceful than your day to day because you want to because it's relaxing and fun.
[00:06:50] It makes you feel good and it calms your reactions and puts you in a kinder and more loving state to everybody you interact with and then that becomes a different way to do it so I've been doing that.
[00:06:59] I think I have like 37 days in the role for at least 45 minutes it's pretty good I'm pretty happy with that little kids.
[00:07:05] I thought that I'm going to die if I don't do a day it's just said I wanted to do it and it's felt good something that I know that when I do it my life goes better so I might still keep doing it.
[00:07:14] I don't think you have to do it type of good life either but it helps so just like exercise helps so.
[00:07:20] Back to the trading the meditation version of that was just a small first doing it's busy and then you get big when you'll just know and how do you just know like with an example of that like when the final last fed day.
[00:07:32] I saw the interest rates kind of fall apart when he started talking negatively about no soft landing and stuff and. I knew that interest rates usually lead on fed day they leave the stock the stock futures so.
[00:07:44] I started trading a little smaller and also decided working and then it worked in a pretty decent way.
[00:07:49] And then I had a huge pull back to like a 50 day moving hour to the disc broke through and I was like well this is going to work and I think it's going to probably not going to go too much higher than here.
[00:07:57] I started putting a little bit on and then when it started to move my way I started to add add add add add and then kind of chase it really tight with stops and never got me out and just kept going and I stopped it was really easy to hold.
[00:08:07] That was an example of I wasn't trying to trade big wasn't trying to do anything but it's set up because I was just willing to do it that way.
[00:08:13] And if I have I gone in trying to kill it I would have gotten smoked even I would end up being right so a big part of my drawdown I had was I was often correct.
[00:08:23] I might ideas but getting smoked and it was really painful to be right and lose a lot of money and that's because I was trained too big and I had to be right and I had to grow and expand and do it bigger than last time and just that's not the way you do it and I and it's.
[00:08:39] Again, I knew it but apparently not not enough because I had to learn it again and that's trading for you these things recycled over the years so just another.
[00:08:48] Similar similar podcast to so many of them I've done because it's just the stuff is so important because it never goes away it's never when you get this stuff when you get better at this stuff mastering yourself.
[00:08:57] The the degree that you can it all goes better it's all easier and that will never ever change and it.
[00:09:05] Systems and levels and this and that and the environment all change but this stuff never changes the most people can't do this stuff can's really hard you have to look at yourself and ask questions and do things that.
[00:09:15] Often times when you're not in this kind of business you don't have to face so often and it makes it I think that's what keeps a lot of us in this kind of work and that's.
[00:09:25] How it is and I think at some we might some sick level we love it but at times you hate it and that's just a little bit you love it but you hate it you wouldn't wish it on anybody but hey if you want to do it then jump in so that's anyways I'm back on doing it more often right now and it feels good to be doing that and.
[00:09:45] We'll see what happens but I think there'll be a lot more podcasts probably are like this in the future because I'm not sure what matters more than this you know I mean we can there's a lot of people who are really good at sentiment and.
[00:09:57] Being a country and I like news and events in. And that's a lot of things like that. and wider stock and wider thinking this way. And it doesn't work, there's going to be a big move the other way. Like I think that way a lot.
[00:10:11] And that's something I've learned from the people and some trying. I'm aware of technicals but I'm not necessarily super technical this and that on just a crappy ranger day, this is not going to be good for me. So I try not to get beat up.
[00:10:24] And then I see where can I take my skill set? Am I thinking in a plat to other markets? So I'm working on some stock strategies with that same thinking. It's been a little up and down for me doing that. So we'll see how that works.
[00:10:34] There's sometimes like 8 to 10 times a year that I'll swing trade, the index using this kind of thinking and I hold it for 7 to 10 days. I just did one of those where I was long and it got out right at the beginning
[00:10:45] of the Fed meeting when it wasn't working anymore. So that was a good one. And so I'm working on that stuff. It's just repurposing and reusing one area that I'm strong and trying to figure out where else it'll work. Versus trying to be somebody I'm not.
[00:11:00] If you're, you know, there's a grinding ball control team and there's an explosive team. Who just needs one big quarter? That's kind of how I am. I don't try to be that way. I just am. So if I don't get killed in the meantime,
[00:11:14] I hang around and then I'm going to have those big moves. But if I try to be the grinder, then I end up overtrating and getting caught in the weeds and I miss the horizon and miss my move.
[00:11:26] That's just a little self stuff from 20 years of doing it. That's that's just what the data says. Not even, um, I've tried to be this way and be that way and it just, you, you are what you are and then you got to make the best of it.
[00:11:40] So I guess I'll just leave it there.