There never was a moment, and never will be, when we are without the power to alter our destiny.
I spent most of Easter immensely enjoying The War of Art by Steven Pressfield. For traders there is a wonderful section from which we can learn that defines the difference between being a professional and an amateur. We might say at SMB and in our field, the difference between being a pro from a piker. So what is the difference between the two in our profession?
The professional trader shows up on time to prepare for the trading day. This time is constant as preparation takes a certain amount of time for the pro, which he fears missing before the bell rings. The piker’s arrival is erratic. The piker would consider showing up close to the opening bell and trading. (BTW do you think Kobe Bryant would show up 15 minutes before tip-off? So then why would you?)
From The War of Art:
Tiger Woods is the consummate professional. It would never occur to him, as it would to an amateur, that he knows everything, or can figure everything out on his own.
The professional trader would never even think he has learned everything he could about his craft. The piker is a know-it-all.
The professional trader is humble and fearful his edge will end tomorrow. The piker boasts to all who will listen about his chops.
The professional trader trades all day long, taking strategic breaks calculated for his best performance. The piker heads out early to the shore or Hamptons when nice weather visits. The piker calls it a day after a big chop, satisfied with his take.
The professional trader reviews his trading without fail after EVERY close. There is never an excuse as he is most interested in doing his work, which is to improve. The piker experiences an improbable disease of computer malfunctions that convince him to skip his work.
The professional trader works seven days a week. The piker thinks a 3 1/2 day work week is a grind.
From The War of Art:
The professional concentrates on the work and allows rewards to come or not come, whatever they like.
The professional concentrates on making One Good Trade after self-defined standards on preparation and accepts the results. The piker bangs and cusses and breaks keyboards after trades poorly constructed.
The professional trader commits to the daily grind as this allows for his trading revelation and advancement. The piker stars at fantasy baseball, never understanding that work allows skill to accrete and new levels of trading cannot come without the grind.
The professional trader keeps coming back, especially after failure. The piker leads the desk in taking days off after a rip to regroup.
From The War of Art:
The professional has learned that success, like happiness, comes as a by-product of work.
The professional trader understands his success depends on the work he does. The piker wonders if he was blessed with the gift.
From The War of Art:
Whatever you can do, or dream you can, begin it. Boldness has genius magic and power in it. Begin it now.
Or as I say, you can be better tomorrow than you are today!
Mike Bellafiore
