By: C. Steven Weirich
Most of you, who read this weekly email, know I spent seven years at the Chicago Board of Trade. The lessons were plentiful. But the biggest lesson learned didn’t come to my (conscious) attention until recently.
It was a typical Wednesday morning. I started trading the bond market around 7:30 am. My typical day, turned not so typical in the blink of an eye.
The left side of the trading screen turned to nothing but a sea of blue. Frantically, I grab my mouse, clicking and clicking to try to liquidate my position. As the market continues to go higher, my heart sinks into the pit of my stomach. My position, a short position betting that the market would go lower, has now become a BIG problem. There are no sellers, only buyers, so I can’t get out of this losing trade.
As money starts to dissipate from my account, like a slot machine takes your cash at a casino, I take a DEEP breath to gather my composure. It’s about the only thing I have left to calm me down from my panic like state. I stop for a second and realize, if I continue to panic my problem will only get worse.
If you haven’t traded before, which I assume most of you haven’t, there is an awful feeling you get when you have to chase the market to get out of a losing position. It’s like chasing your dog around the backyard when you don’t have a fence. Every time you try to lunge to grab the dog, he or she darts away. No matter what you do, the dog is always one step ahead of you. And it isn’t until your furry little friend gets tuckered out that you can finally grab him to get him inside.
This is how I describe a losing trade that you can’t get out of. It isn’t until the market has left you breathless. Panicked. Petrified. That it finally lets you out.
That day ended up costing me over $10,000 in losses. It was pretty devastating blow… To my ego and my confidence.
Having left the trading pits, the year prior, I took my skills off the floor to a computer trading platform. The problem was these skills didn’t equate to trading in front of four 17 inch, graphic filled, monitors.
Not researching and honing my skills, like I had for three years before I started trading in the bond pit at the Chicago Board of Trade, cost me my career. Not saying I would have made it trading on the screen but I feel with more research and market study I could have given myself a better chance.
That terrible year, in 2005, was filled with a constant feeling of stress throughout my body. I never felt right in my skin. I wasn’t breathing normally, my sleep was terrible, and I was always on edge. When I think back, I believe my troubles were due to my lack of presence. I wasn’t living in the moment. I was chasing the dream of being a trader instead of chasing the knowledge I needed to become one.
How do we become PRESENT with ourselves?
You always hear people, especially athletes, say I was in the moment. I think this is a question we should sit back and think about for a minute…
Remember Michael Phelps, the 28 time olympic gold medalist swimmer, and his look right before his race. That was someone in the moment. Or, like Michael Jordan at the end of a game taking the final shot. What we didn’t see, behind the scenes, was these great athletes preparing for the moment we all got to witness. Hours of preparation was the reason for their success.
Being present, is something we should all work on to better our lives. Present with our professional lives. Present with our families. Present with our relationships.
I think I have the answer to the question… So I am bringing it to you…
I recently interviewed Savita Laura Jachim of Awakening Wellness with Savita on The Arlington-Prospect Advice Givers Podcast®. Being a Holistic Stress Management Specialist, Savita teaches how to free the mind to focus on being present. If we are present, we are more equipped to handle the stresses of everyday life. My favorite quote from Savita in the interview is, “Stress is the internal response to something that is happening externally,” that is so true. How we handle what is going on internally dictates our actions externally. And actions are what matter most, right?
Tune into to hear Savita Jachim talk about her journey and the years of study it took her to become a Holistic Stress Management Specialist. You can listen to Savita on episode 69. It’s a can’t miss. And to book an appointment with Savita go to her website here.
I realize now that I wasn’t equipped, internally, to handle the stresses I brought upon myself in 2005. That in turn caused my, EXTERNAL, actions to be reckless. Taking risks, I should not have been taking. When I was on the floor, I never let a day get out of hand like I did in this example. It’s because I was PRESENT at all times in the trading pit.
When I left the floor, I didn’t put in the time, preparing, doing the proper research to succeed. By not being prepared it clouded my judgement. Hence my internal stress caused my external pain.
This is why I collaborated and co-authored my book ‘The Value Driven Approach to Sell Real Estate’. It took two years of research, case studies, planning and trial & error to come up with this stress relieving process/approach for my clients. My goal is to never have, you the home owner/seller, feeling like I did in 2005 clicking away trying to get out of a losing trade.
This week’s NOTION…
Take a DEEP breath… Exhale… And Tune into episode 69 with Savita Jachim of Awakening Wellness.
Here’s to a good week!
C Steven Weirich
Steven Weirich is the Founder & Host of Arlington-Prospect Advice Givers™ www.arlington-prospectadvicegivers.com
Co-Creator of ‘The Value Driven Approach to Sell Real Estate’
We have seen the traditional real estate approach disappoint
many of our clients. This is why we’ve taken to studying
the World’s greatest investor, Warren Buffett, and his investment philosophy,
to develop a unique approach to selling our clients homes.
We’ve discovered, by treating your home as an investment,
like a business with a “stock”-price – through a
Value-driven Approach – there is a unique way to extract up to
$30,000 or more of additional profit from any home
on the market.
For a copy of the book go to www.literature4charity.com