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Ownership in Trading

[An excerpt from the Outlier Insights Weekly Newsletter, sign up for FREE]

3. Under the Microscope - Ownership

Basic Investing & Trading Concepts

  • One of the most pivotal concepts to truly enhance not only our trading, but our life, is that of Ownership.

  • Much of my success is derived from exceedingly simple concepts. One of which, is acknowledging what I can control and what I cannot. For the things I can control, I assume total ownership, with concerted effort to drive a desirable outcome.

  • As a Marine Officer, we're taught that we are ultimately responsible for EVERYTHING that happens, mission success or failure. This enables decentralized execution, which is very similar to trading or investing. We deploy our accounts on our own, with no external oversight.

  • We cannot control what direction the market chooses to go. Or if there's an unpredictable global edge event that drastically impacts the economy. We can however, always control ourselves and how we choose to deploy our accounts.

  • Are we sizing our trades appropriately (and not getting too greedy or sheepish)? Are we following a defined trading plan with a quantifiable edge? Do we carefully track our trades in a trading log so we can optimize our performance?

  • Remember, you can put in, literally, an unlimited amount of work to place the "perfect" trade and STILL lose money. The name of the game is consistently placing the best trade as possible.

  • One of my favorite sayings: Don't let life happen to you. Life is littered with uncontrollable variables. We can always control ourselves - don't let life happen to you. Strive for slightly better every day and stay consistent - Be an Outlier.

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