16 ways high level athletics is like professional trading.

Professional trading is like high level athletics.

Scarcity

There are not very many professional trader or high level athletes. A trading account does not make you a professional trader and a jersey does not necessarily make you a high level athlete.

Loneliness

Because most people will never be a professional trader or a high level athlete there is not many people they can talk to. But there are always more than you think.

Only matters how you finish

It does not matter how you start, the object is to be profitable or win.

Age is not an issue

Age is not a determining factor in success. Experience and focus help. Being hungry helps. A combination is best.

Preparation

More time is spent preparing than competing.

No guarantees

When you are competing with others there are no guarantees of a positive result.

Perseverance

It takes balls to get back up after getting beat. It feels like the end of the world but it isn’t. One foot in front of the other.

Adapting

Change happens fast and if you are going to keep up you have to make changes. No one stays on top forever those that can adapt last longest.

Injuries

There are set backs. The injuries are physical and mental. The difference being the physical issues from professional trading usually stem from the mental issues.

Feedback

Feedback is crucial. Reaction to the feedback and perception of feedback are determining factors in success.

Athletics have played a crucial role in my development as a trader and a person. Here is the most important thing I can say to you about athletics and professional trading. And I realize there are not 16 ways that is because if you are “thinking” about more than 1 or maybe 2 things, you will get beat.

See also 5 Common Rules of Successful Traders.

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  • Excellent …

  • Eli,

    Excellent list. Coming from an athletic background, I also use a lot of sports psychology concepts in my work with traders. I especially like how you mentioned adapting and feedback as crucial.

    I wanted to let you and your followers know about my upcoming webinar on trading psychology on Wed. 4/6 at 3:30 CT. This webinar goes beyond visualization/affirmations and right to the heart of the issue.

    Learn why you repeatedly veer from your plan/rules and what to do about it.
    http://www.traderkingdom.com/futures-trading-education-events/details/213-profit-from-the-herd-by-not-thinking-like-the-herd

    Once you learn the set-ups, the missing piece in trader performance is self-management.

    Attendees will learn what they can do to improve performance. Learn why you hold losers too long, hesitate to enter, take impulse trades, and prematurely exit good trades….and what can be done to change that.

    Andrew Menaker, PhD

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  • Great post Eli! All good points, despite what Dr. Doug said 2 days ago in his ’16’ post that “trading is NOT like sports.” (I couldn’t disagree with him more)

    As a former All-American and now as a 12-year full-time trading veteran, I know there are many similarities between peak performance in sports as well as on the trading desk. You pointed out legit examples here, I have previously, and Bella @smbcapital also does regularly. The list could easily go on. Courage, determination, adaptation, and preparation – can’t get to the next level in sports or trading without them.

    It’s Masters week, so I better prepare to learn some trading lessons ๐Ÿ˜‰ Keep up the good work!

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6 Responses to 16 ways high level athletics is like professional trading.

  1. Nicola says:

    Excellent …

  2. Eli,

    Excellent list. Coming from an athletic background, I also use a lot of sports psychology concepts in my work with traders. I especially like how you mentioned adapting and feedback as crucial.

    I wanted to let you and your followers know about my upcoming webinar on trading psychology on Wed. 4/6 at 3:30 CT. This webinar goes beyond visualization/affirmations and right to the heart of the issue.

    Learn why you repeatedly veer from your plan/rules and what to do about it.
    http://www.traderkingdom.com/futures-trading-education-events/details/213-profit-from-the-herd-by-not-thinking-like-the-herd

    Once you learn the set-ups, the missing piece in trader performance is self-management.

    Attendees will learn what they can do to improve performance. Learn why you hold losers too long, hesitate to enter, take impulse trades, and prematurely exit good trades….and what can be done to change that.

    Andrew Menaker, PhD

  3. […] How trading is like athletics.ย  (TraderHabits) […]

  4. Jeff White says:

    Great post Eli! All good points, despite what Dr. Doug said 2 days ago in his ’16’ post that “trading is NOT like sports.” (I couldn’t disagree with him more)

    As a former All-American and now as a 12-year full-time trading veteran, I know there are many similarities between peak performance in sports as well as on the trading desk. You pointed out legit examples here, I have previously, and Bella @smbcapital also does regularly. The list could easily go on. Courage, determination, adaptation, and preparation – can’t get to the next level in sports or trading without them.

    It’s Masters week, so I better prepare to learn some trading lessons ๐Ÿ˜‰ Keep up the good work!

  5. […] – Why high-level athletics is like professional trading. […]

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