Picture the scene… 30something male heading down the motorway on a Sunday evening singing along to all his favourite Erasure songs…
Ok, so something not all together right about that thought but in all seriousness the album in particular was one of those live albums that you can purchase of the event to keep as a memory kinda thing. What struck me on this part of the journey was just how easily, after a long time, I can slip into full song, bearing in mind that it was tunes I had not listened to for a while. More importantly, as I skipped through the ipod tracks/ albums I began to notice a familiar theme running throughout.
What I had noticed was that pretty much most of the bands or singers all had a signature tune – the tune that literally can prompt a crowd of people into full song. Now, I’m not referring to just the chorus here as pretty much most songs can be sung to the chorus but here I am referring to a song that can literally lift you into full song without you even thinking about it.
But what about your trading? Do you have a method that can empower you in the same way & more specifically that you can slip into it without so much as a thought?
Throughout the many concerts I’ve been too I can think of numerous songs that do this, from Erasure’s “a little respect”, Howard Jones “new song” even dare I say it Depeche Mode’s “just cant get enough”. But even modern day bands& singers like Robbie Williams, Take That for example will have at least one tune, that in the event of a dull crowd they can pull out of the hat to induce an instant reaction.
The point I’m trying to get at here is that in trading we too need a signature tune, a method that we can rely on time after time, never tiring, never growing old. The kind of method we can slip into, anytime, anyplace.
But traders have an issue with this because many of them won’t be around long enough to realise what their signature tune/ method actually is. The reason for this is very simple – the process of moving from method to method without stopping to understand the implications of what they are doing. The underlying reason for this is the desire for instant gratification or more bluntly, success in an instant. The reality is that many methods, like tunes can take a while to develop, sometimes a slight twist here & there but following a logical path until it fits. As it is songs, just think of how many songs you actually didn’t like to begin with but after a while it becomes familiar almost. Let me give you a personal example of this; Depeche Mode had an album track from their 2001 Exciter album called “The dead of night” & I instantly hated this track. No matter which way I listened to it, I just couldn’t make it fit my taste. But when it was played live, it became a completely different song altogether & was just awesome – very strange I know but so it is in trading. Sometimes it will just take a little while for your tune to develop.
And time is something that many people in trading do not want to invest which is a real shame because often the one method that would have changed a traders life was right in front of them, just waiting to be developed, a bit like that tune when it was first released, constantly played o the radio & TV, being drip fed into your subconscious all the time until you reach a point where you can sing it word for word.
There are a few “must do’s” in trading & this is right up there with the top ones. The ability to take a method, make it your own but develop & grow with it. If you fail to stick with a method that suits your style of trading & simply discard it the second it has a losing trade it could be a vital error in your trading career.
When you develop a trading method & nurture it, it has a wonderful habit of rewarding you once it reaches full bloom, of that you can be guaranteed. Once developed, you will be trading a method much like your favourite artists tune, just letting your subconscious take over & your trading feeling completely natural.
Now, one of the key questions this will undoubtedly throw up is how long do you give yourself to develop a method? Great question but I guess the answer lies in how long are you prepared to give it?
When choosing a method or methods, it is just as important to decide how you will measure its progress & of course how often you review it, and when you implement changes. Again, so often traders will know what their preferred methods are but do not follow through with the nurturing part & simply expecting it to bloom brightly on its own accord.
Make sure you know what your signature tune is, develop your subconscious mind to recall it anytime you choose & instead of being a “song for whoever” make sure it becomes your “perfect 10”
Until next week, have a fantastic weekend & i’ll see you at the top!