James Altucher makes me want to quit.

I will admit I am a bit naive. I wake up thinking I can do anything.  I have had just enough people who believe in me and many more that have helped me.  As I have gotten older I have realized or been forced to realize I can’t do everything.  Well, I can still do anything but I have limited time and energy.  I can’t do everything, efficiently. There is something very powerful about real confidence but your strengths have a way of becoming weaknesses if they are not used in balanced.  I am not sure who said this first, but a weakness is a strength, overused.

I am starting to become so rounded that I am beginning to roll away.  Or said another way, a jack of all trades a master of none.  I am competing on too many fronts.  I came to this realization as I am reading more and more.  There are many but specifically James Altucher.  Will I ever be able to write like that?  Maybe.  It is an efficient use of my time?  I doubt it.    He makes me want to quit writing on a daily basis.  It is like thinking of the ex girlfriend when you are trying to learn about the new girl.  He is robbing me of my concentration and enjoyment as I sit down at my key board.  I am battling writers block in a big way.  It is no longer an efficient use of my time.

So am I going to stop competing?  No, I am just going to be more ME.  We don’t compete with other people in the beginning, the competition is with ourselves.  Get out of your own way first, then start focusing on the competition. We all have our place.  I do think people get comfortable in the “wrong” place at times.  Mr. Altucher writing is a goal not a competitor.  Along the way he was willing to give up something I was not.  The prize belong to him.  Thinking that I can compete with someone in an area that I am not naturally talented is to not give him and others credit.  He has worked longer and probably harder at it.

I sought other places for advice but Mr. Altucher lays it out the best in this post and specifically the excerpt from below.

So the formula is simple:

  1. improve every day. If you are frustrated you don’t have 80mm pageviews, just focus on your practice and keep improving. Want more money? Focus on practice and keep improving. Want the girls to touch you? Focus on practice and keep improving.
  2. keep “beginner’s mind”. Never assume you are too good to learn. I think the greatest danger in getting to be the best at something is the cloak of ego that wraps itself around you.
  3. Non-promotion. And although Jim Cramer once told me that “nobody else will promote you. You have to learn how to promote yourself” and I thought it was wise advice, I also firmly believe that the sincere and powerful voices will rise to the top. And its those voices that will rise above the hate and desperation that tends to flock around self-promotion.
  4. Steal and get rich. funtwo takes JerryC’s composition which is a takeoff on Pachebel’s Canon. When you master a field, its ok to play and improve on everything that came before you. In fact, thats often a good starting point as well.
  5. And if you’re ugly, hide your face.

So the real point of this post is to tell a story about competing.  It is true Mr. Altucher is in my head.  I put him there.  What have you injected into your brain that prevents you from become the best you can be?  It is also a lesson on expectations.  I want to help you shorten the learning curve as much as possible.  It starts with expectations, trading is hard.  You do not get there in one day.  Would I make my goal to be able to tell a story like him if I could do it in one day?  No.  I like challenges.  Some days are easier than others. In this second is it the most efficient use of my time?  No.  Will I get better?  Yes.  Will I be the best?  No.  Will I better than many?  Yes.  The first step is the hardest because it is taken on faith. Some times you have to put your head down and be certain you will arrive.  It may not take you to the destination you intended but moving forward is better than not knowing.  Trading is taking a series of steps many blindly. I am thankful to have small rewards along the way and to have fallen in love with it.

I am better looking at least.

I am not an expert on Mr. Altucher.  I admit, I only recently started reading him.  I whole heartedly disagree with him on his belief that you can not make money day trading. I also do not think highly on his intermingling of economy and markets.  But I do want to thank him for giving me a place to shoot for.  Wherever it takes me.

For the record, I am also competing with Gary Vaynerchuck, Mark Suster, Phil Pearlman, Joshua Brown, Tadas Viskanta, my grandpa, my father,  my mentor in trading, a client and myself.  That is not all of them, I left out Sean and Jeffery, but you get the point.  A little each day, some steps are bigger than others and some steps are down the wrong path. Also, do not assume on what level I am trying to compete.

We would really appreciate your feedback, if you like, hate, or think we are full of crap. Please leave a comment, a voice mail (312) 725-9121, email info @ traderhabits (dot) com  or twitter
Subscribe to MyTradingNetwork.com/blog by Email

3 Responses to James Altucher makes me want to quit.

  1. […] This post was mentioned on Twitter by Eli Radke, Benko. Benko said: @eradke James Altucher makes me want to quit. http://traderhabits.com/?p=1664 $Study $$ // good post! […]

  2. James Altucher makes me want to be a better writer too. We’re all glad you haven’t quit, and its been fun to watch your writing improve since I began reading you this summer. Keep up the great work, you’re getting better every week.

The services and materials provided should not to be interpreted as investment advice, an endorsement of any security, commodity, future, or personal investment advice, or an offer to buy, sell, hold or trade futures, options or commodity interests or a recommendation to buy, sell, hold or trade futures, options or commodity interests. You assume the entire cost and risk of investing and are solely responsible for any and all gains and losses, financial, emotional, or otherwise, experienced, suffered, or incurred by you.

Read previous post:
Close