Trading can be one of the most difficult and lonely businesses imaginable. To succeed, not only is a trader required to overcome inner psychological demons, but must constantly go against the herd.
And yet, inspiration can come from anywhere. Malcolm Gladwell writes about the key to achieving success in his book, Outliers. Gladwell claims success in any field requires mastery, which comes from practicing a specific task for 10,000 hours.
A master craftsman and skilled technician, Derek Trucks is the world's premier slide guitarist. For some warped minds, listening to Derek evokes parallels to trading. This business requires passionate dedication, mind numbing commitment, and relentless practice.
Much like the precise location of nimble fingers on a fretboard, the best trades are often difficult to make, and require precise trade location and risk management. The best traders know how to transition, detecting structural changes in the marketplace to capitalize on subtle shifts in direction. For music, guitar, or jazz fans, the video above is an inspirational treat. Make sure you stick around for the transition at 3:16. And then, at around 7:30, Derek begins an out-of-body sequence, where he's clearly in the zone, and transcends beyond the physical stage.
Our goal is to manage trades like those fingers on that fretboard – remain focused on the process and technique, and the results take care of themselves.
And yet, there are times when even 10,000 hours are no match for the gift of God-given talent. Check out the footage below of a young Derek Trucks at the ripe old age of 13. Do the math – he bought his first guitar at a yard sale when he was 9.
Originally published on Trade Flight Plan.