Trades
besomebodyfx
WHAT CAN BRUCE LEE TEACH US ABOUT TRADING
You might think why the heck is this guy bringing Bruce Lee and trading together?
Well, it definitely doesn’t make any sense but this week a famous quote from Bruce Lee came out of nowhere in a discussion in the Private Network chat and the quote was “be like water” it’s a famous quote and you definitely heard it aready from this interview:
So myself being a huge Bruce Lee fan i started asking what Bruce Lee can teach somebody about trading?
You surely know who Bruce Lee was and what he did, but probably most of you don’t know that Bruce was a philosopher as well and studied philosophy at the University of Washington.
So almost a decade ago i bought a book about Bruce Lee which is basically a compilation of all his thoughts and scripts, so this week i decided to pick it up again to extract a few good quotes that can be meaningful for traders…
Excuse myself for the cringiness of this article but i didn’t have much to do this morning so this is the fruit of the lockdown boredom…
“Simplicity is the key to brilliance”
I’m sure i don’t have to explain this one, keep it simple, don’t overcomplicate things, create an actionable approach and master it but don’t forget that 90% of retail fail so think twice when you study what every other retail trader is studying…
The key is simplicity, yes, well simplicity doesn’t mean what you might think, like buy when the stochastic is oversold and sell when overbought, yes that’s simple, but it’s not simplicity, simplicity is, trade what simply moves the market, trust me your stochastic is not moving anything, what really moves the makets are factors outside your chart…
“Success means doing something sincerely and whole-heartedly, and you have to have the help of other people to achieve it”
This affirmation is true in trading because you need somebody to push you further and to support you in hard times, having a team in trading is in my view absolutely crucial for success, of course, it depends on individuals but having support where you can ask feedback, suggestions and you can confront yourself it’s a huge advantage in this industry.
“In order to control myself i must first accept myself by going with and not against my nature, everybody has to think for himself. A right way for a big man may not be a right way for a small man, a right way for someone who is slow may not be a right way for someone who is quick, each person must understand his weaknesses and his strengths”
In the trading field this means, learn about yourself, learn your motivation, learn what you actually want from the market and what you are willing to give, you want to stay in front of the chart 10 hours a day? or you want a more relaxed approach, looking at charts only during the weekend? Learn about what you want and from that you can adjust your trading based on your interests, if you are somebody that gets frustrated by losses, then focus on fewer trades and more accuracy, if you don’t like to stay in front of the charts then don’t even try daytrading because you will fail no matter what.
If you don’t like what you are doing, you are adding another enemy to what already is really hard in itself.
“If you spend too much time thinking about a thing you will never get it done”
When you have a plan, you have everything planned out, then don’t hesitate when it’s time to pull the trigger, if you think about it too much then you are done, you will overthink it and there you go, you missed your perfect entry, this is why i love pending orders, just place it according to your plan, and don’t look back.
“A choice method imprisons the mind, fixes the mind in a pattern. It’s the cultivation of resistance, and where there is resistance there is no understanding, any techquine, however worthy and desirable, becomes a disease when the mind is obsessed with it”
I love this one, don’t be obsessed with a specific method of trading, understand the WHOLE concept and then specialize in something BUT always understanding the bigger picture and without getting obsessed with your approach, a good trader is able to switch his style when needed, adapt yourself to what the market is telling you in that moment and don’t force your method on it.
“Mistakes are always forgivable, if one has the courage to admit them.”
Admit yourself when you have done a mistake, don’t try to hide it, the only way you can learn from it is to accept and study it, did you oversize in a trade for instance? study your emotions during your decision making and what happened that made you oversize in the trade.
The successful warrior is the average man, with laser-like focus.
Sometimes people come to me asking if you need to be a genius to be profitable in the markets, and yes definitely you need to be smart since you are competing with some of the sharpest minds in the world but what makes the difference is not IQ, is your ability to control yourself, your discipline and focus…
“The man created the method, not the other way around, so don’t try at all costs to adapt to somebody else schemes, models that undoubtedly will work for him, but not necessarily for you”
Straight forward, find your way, don’t try to copycat anybody, if you do that you will not succeed…
Now if you have been able to get through this cringy article I salute you because you find this interesting as I do, psychology as we all know plays a huge role in trading and I find these quotes to be quite interesting for how they can be true for trading as well, definitely there are more quotes from Bruce worth mentioning that relate well with trading but i don’t have all day 🤪
