Balancing Personal and Trading Life

Trading life is very different. Um,

trade- trading is actually a very simple

lifestyle.

You have to cut all the crap out of your life because

really your personal life has to be empty.

So

y- you can actually make,

uh, very well-informed decisions over and over again

multiple times.

If you think about it like this, if your personal life is really hectic,

or your

business life is really hectic all the time,

it's gonna affect your trading decisions,

and vice versa actually. If you have an

extremely complicated, very hectic trading lifestyle,

uh, then it's gonna affect your personal life.

So your personal life, your trading life need to mirror each

other,

and

decision fatigue is a big thing in the industry that you need to avoid because

it,

it, it creates,

uh, scenarios where you can make bad

decisions, and it can

cost a lot of money.

So every professional trader knows that you have to absolutely have a

personal life

that's simple,

and a pers-- and a trading life that mirrors your personal life,

and vice versa.

And, uh, you know, you look at all these guys, the mentors,

you know, in real life they've got, you know, very simple lives.

Uh, you know, guys like Raj, for example, how does a guy,

uh, become the head of options trading at Bank

of America

by the time he's thirty?

Sure.

Well, he doesn't get to that stage

at such a young age because he has a very hectic lifestyle.

He gets to that position at such a young age

because he's got incredible focus,

and he's organized, and he concentrates on

making sure that his life is extremely

simple and manageable so he can make good decisions and always

has a clear head.

And, you know, Raj himself, uh, he'll be hanging around later on the final

day.

You should actually talk to him about it.

Sure.

It's something that he has a,

has an incredible insight into. So chat to him.

He'll give you some good insights on that.

With this kind of outlook of

organizing your personal life and your trading life,

uh,

and creating a scenario where things are quite simple, okay?

Think about it like this. Um,

when you put a trade on

you're looking at the trade in a way of does it add any value?

Is it going to make me money? Is it high probability to make me money?

And it's the same in, in your personal life.

You know, personal relationships, for example.

Like, if you go on a date with a girl twice,

uh, do you see yourself, uh, being with this girl long-term?

Sure.

Is she adding value to you? Is she adding value to your life?

Uh, if you meet new friends, are they adding any

value to your life? Do, uh, family members add value to your

life or are they a liability on your life?

You know, making sure that your personal life reflects

your trading life, and vice versa, is extremely important

because if someone's not adding value to your life in any way and they become a

liability,

you have to cut them because that's gonna actually affect your trading

decisions,

and you could end up with

decision fatigue and make bad decisions in your trading life because your

personal life is not organized. Just look at it like this.

People who screw their personal lives up

screw their trading lives up, and vice versa.

People who screw their trading lives up always screw their personal lives up.

They have to run in parallel with each other, and you have to manage them to be

really focused and really straightforward and simple.

Does it add value or does it take away value?

And if you manage that well, you'll be a great trader.