#3 | The Daily Edge

Perform, Perform, Perform! 👋👋

Hey , Welcome to #3 of The Daily Edge! If you've already read the old daily edge editions, I'll be posting the old ones with new addons and tips regarding my current experiences on those topics, not on a daily basis though! Make sure you take notes and enjoy this journey of value..

Recently, I listened to an old interview from Kobe Bryant, and he said something beautiful which has been in my mind ever since.. "It is your job and responsibility to perform.. perform.. perform, thousand or maybe millions of people are watching you to see you perform at your best." In my personal case, it's of course not the case that thousands or millions of people count on me. However, I do have a team of people working with me, I have family, and I have a decent group of investors counting on me. And I truly believe you have something like that as well, maybe just a group of friends counting on you to be your best in something.

Thus, it is your job to perform and execute every single valid setup the markets offer to you. It is your job to put in the time necessary to learn the craft but also to be ready every single day. It's maybe strange that I think this way but I see working out like this as well, it's my responsibility that I am fit and stay healthy. Not just because being fit and healthy helps me perform better in all my areas of life, but also because I owe it to the people around me. I need to be healthy or do my best to stay healthy. One quote from the book "Tough-Minded Management" goes as follows; "He recognizes that developing and maintaining maximum physical fitness is an important requisite of mental health and acuity that such fitness is not self-indulgence but part of an executive's obligation to his business, his employees, and his subordinates to do likewise. The development of the whole man is just lip service, he believes, without follow-through in terms of physical well-being."

This type of mindset has totally helped me in trading, to be sharp and ready to execute whenever I need to. Most importantly, I am never scared to enter a position even though I recently had one or a few losing trades. I am never scared to take a position and you shouldn’t be also. I am sometimes hesitant if a position doesn’t fully fit my plan and would, therefore not execute it.

Fear arises if you don’t trust your own trading plan or if you deteriorate from your plan. You need to develop your trading plan to the extent where you have full faith in its potential. In future editions, I’ll cover exactly how to reach that level of confidence.

Traders often end up blaming themselves if they make a mistake, if you stick to your trading plan there is no reason to blame anyone because whatever the outcome is, it’s part of the plan and the distribution of results.

Things you can implement;

✅ Start with creating your trading plan if you have none.

✅ Start with testing your rules and trades to build confidence.

✅ Take out a deck of playing cards, take out 5 red cards and 5 black cards, shuffle them and pull out a card, black = win, red = loss. Write down the outcome and put back your card, re-shuffle and do it again. This will teach you a lot about probabilities. Just remember, if you need anything at all, we're here for you! Love and Warm Regards, Max Nieveld