Archive for Motivational
The Weekend Trader – Changing Our World via LandRover & Another Walk to Emmaus
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Followers of this site may recall that about this time last year, I posted my talk from my participation in the Southern New England “Walk to Emmaus“, which is a four-day Christian revitalization retreat where attendees are surrounded by an incredible outpouring of the love and grace of God.
Readers may also recall that a year prior to that, I was one of the Walk’s attendees, and those four days turned out to be one of the most incredible experiences I’d ever experienced as I posted on the initial blog site in April 2010. My experience led to a deep desire to be a part of future Walks, so that I could help provide similar experiences to others.
The “Walk” isn’t actually a physical walk … rather it’s a virtual journey through 14 biblical based themes, where presenters weave their own life experiences into one of the assigned topics.
This coming week, I’ll again have the humble privilege of participating and presenting to the attendees … this time, on the topic of “Changing Our World”.
And as I did last year, after some thought and prayer, I’ve decided to post my talk in the hope that it can help just one person who stumbles across these pages.
And while I may have “written” the words that you’re about to read, they’re really not “mine” as I’m simply a vessel. Those know know me through this site will likely recognize several family and personal themes which I’ve referenced in the past.
May God bless our upcoming event.
# # #
It’s 1960.
A Christian couple has just experienced a life-altering stillbirth and loss of a son.
They’re devastated in ways that words can never describe.
They want to try to have another child, but are unsure if it’s worth the risk and yet another gut-wrenching disappointment if things don’t turn out.
In the end, they turn their hopes and fears over to God and try again.
Less than a year later, despite yet another birthing challenge … this time delivering while having a full-fledged course of the chicken pox that called for a special C-section to isolate the child from the virus, a son is born.
It’s 1973.
A young 12 year-old boy overhears his visiting grandfather talking to Jesus in the room adjacent to his bedroom.
The conversation has a profound impact on the rest of this young man’s life as he soon accepts Jesus as his Lord and Savior, who helps guide him through a lifelong maze of trials, temptations, detours, and imperfections.
It’s 1983.
The boy is now 22 and graduating from college. He visits his ailing grandfather in the hospital, yet “Pop” as he was known, no longer recognizes him. A short time later, Pop passes away, but not before telling his daughter – the young man’s mother – that the “place is beautiful” and that “the baby is OK.”
The man – now 41 – and his wife learn that their frail ten-year old daughter is fighting a losing a battle with her health. Her body is wasting away to less than 50 pounds, and is so thin that you can see three sides of every rib. Upon receiving the diagnosis of Type 1 diabetes and learning the news that she that would forever be dependent on doctors, tubes, needles, and insulin, they break down in tears and turn to God for strength and with the hope that something good can come out of this.
It’s 2007.
A family with a Type 1 diabetic infant is desperately looking for someone to care for their child so they can have just a few evenings to themselves to regain their energy. They need someone who can handle the delicate task of testing blood from a tiny finger and determining and administering just the right amount of insulin to a tiny soul. Through a series of overheard conversations, they learn that there is a responsible teenager in the area who is also diabetic. Within days, a family’s prayer is answered and a life-long bond is formed.
That teenage girl – who by this time has been prodded with needles over 15,000 times – has blossomed into a beautiful young woman and accomplished musician, graduating from high school as valedictorian with the highest GPA ever recorded at her school, just weeks after bringing a mesmerized concert house to their feet with an emotionally-charged violin solo of the theme from Schindler’s List.
The diabetic infant – now five – joins her in her celebration.
She is accepted into one of the top colleges in the world.
Her chosen field of study? Serving others through science & medicine … with a minor in music.
One leap of faith after heartbreak. A few overheard conversations. By themselves, they seem rather meaningless … and in some cases, insignificant. Yet when strung together, they grow exponentially to form a God-powered chain of events which continues to affect and touch lives to this day, and whose ultimate full-ranging impact can only be known and measured by God.
My name is Don Miller, and the title of this talk is “Changing Our World”.
As you may have guessed, the heartbroken parents in the story were my parents, “Pop” was my grandfather, and the young woman is my daughter Chelsea.
Each limited by their imperfections & humanity in our minds, yet perfect and with infinite potential in God’s. And all doing their small part to change the world.
I say small, but to God … small can be huge.
So far this weekend, you’ve heard about piety, study, and action … and about the world’s desperate need for Christ and Christian leadership. But how can we respond to this challenge?
In “What’s Wrong with the World”, G.K. Chesterton wrote, “The Christian ideal has not been tried and found wanting. It has been found difficult, and left untried.” So for the next few minutes, I’d like to talk with you about not only trying Christianity, but also about making a plan to successfully live it and help Christ make a difference in the world.
Making a difference involves four fields of ministry: yourself, others, your community, and the world.
Micah 6:8 provides a helpful framework for understanding what God requires of us, and how we will bring about change in these fields of ministry: For that verse states, “What does the Lord require of you but to do justice [which addresses the community and world], and to love kindness [others], and to walk humbly with your God [self]?”
So let’s address each of these fields of ministry in reverse order.
In the first field, we’re called to walk humbly with God. For before we can change the world, we must first have a plan for anchoring ourselves spiritually. If we’re going to bring change to the world, we must start with ourselves.
Holocaust survivor and esteemed writer Ellie Wiesel (VeeSELL) tells the story of a Jewish man who set out to change the world. In making his plan, the man said to himself:
Basing myself on the learning that if all repented, the Messiah would come, I decided to do something about it. I was convinced I would be successful. But where was I to start? The world is so vast. I shall start with the country I know best, my own. But my country is so very large. I had better start with my town. But my town, too, is large. I had better start with my street. No, my home. No, my family. Never mind, I shall start with myself.
OK, great. So we know where to start.
But what about how do we start?
For if we’re to try to change the world without firm roots in a personal relationship with God and Christian community, we can easily fall into traps.
How do I know?
Because I’ve fallen into each and every one … multiple times.
The first trap is called the “Pharisee”. Because the Pharisee is not motivated by God’s grace, he or she is driven by rigid perfectionism and guided by legalism. The mission is then perverted into attempts to force everyone into one’s own mold.
At my end, and until very recently, I struggled greatly with the aspect of tolerance. Tolerance for people who didn’t fit into my mold. Perhaps they were loud. Perhaps they had multiple body piercings or body art. Maybe they weren’t intellectually stimulating. Perhaps they were Yankee fans or had different political beliefs. Perhaps they said tomato, and I said tomato? Or maybe they simply sat next to me in church wearing an odd scent of perfume.
Sound odd? Perhaps. Sound familiar? I’ll let you answer that one.
Oh, I still struggle at times. Yet Matthew 7:3 has had a particularly profound effect on me in recent years. For as Jesus said, “Why do you look at the speck of sawdust in your brother’s eye and pay no attention to the plank in your own eye?” I guess you could call it God continually hitting me over the head by a 2×4 … or in this case, hitting me in the eye with a few planks.
The second trap is called the “Do-Gooder”. Do-gooders are often motivated by their own need to be needed or make a notable difference … instead of by true compassion and commitment to meet human needs.
Said another way, for me, too many times, and even with the best of intentions, it’s been a little too much about “me”, when it should have been about “God.” And I have to remember it’s not about the person pointing the way toward God … it’s about to Whom – with a capital W – the finger is pointing.
We can call the third trap the “savior complex”. For without a sense of God’s providence, caring people may feel they must save the world by themselves. The result is far-reaching plans or feverish activity that may be based more on anxiety for the future rather than attention to God and discernment for God’s will for the present.
Remember, to God, small can be huge. As was stated in the Upper Room devotional guide a few weeks ago, when Jesus turned the water into wine at a wedding reception he was attending, it didn’t bring anyone back from the dead or free anyone from a life-threatening illness. It DID however show that God cares about us in the average, run-of-the-mill, and mundane moments of our lives.
The final trap is one that we’ve all likely encountered at one point in our lives, and perhaps one reason why some of you are here this weekend … and that’s the “burned-out” Christian. For without a vital relationship with God and other Christians, our fire for the mission burns out. And as we’ve all found out the hard way, we can’t clean our own house, never mind change the world … if we’re running on empty.
Again, I’ve been in each one of these phases from time to time … or as I like to say, “been there, done that, and sometimes frequent the same neighborhood”. Yet by focusing on Jesus’ model life, including his relationship with God and his close friends, we can not only begin to change ourselves, but sustain that change for longer periods of time so we’re adequately prepared for the next mission.
Which brings us to the second field of ministry: Serving others.
In this second field, we’re called to love mercy. And our most immediate opportunity for changing our world beyond ourselves is to share God’s love in our relationships with others, whether it be family members, colleagues, friends, neighbors, or acquaintances.
Our mission?
To infuse our network of relationships with the grace of Christ, to make mercy and outreaching love a part of our everyday life.
We can begin by making a mental inventory of our relationships and the grace they call for from us.
Who do we know that needs our encouragement?
Who needs what only we can do or give?
Who needs to hear about Christ from us?
Equally important is our attitude toward others, for as stated in Matthew 7:12, our attitudes will either open or close relationships as channels of grace.
Do we affirm people, or do we categorize people with limiting labels?
Do we see persons for what they have been and condemn them to that, or do we see them for who they can become and encourage them to rise to their potential?
And then there’s prayer. That silent and unseen, yet powerful tool by which God can transform & heal relationships. For it’s through prayer, that we can demonstrate our love by directly tapping God’s unique strength and power to help others become changed persons.
Finally, there’s friendship with others. Remember the motto from the Christian Action talk. Make a friend, be a friend, and introduce a friend to Christ.
And I think there’s a natural order of progression with that motto, which I’ve recently seen in my interactions with Chelsea’s boyfriend, Nate. Nate is a kind, caring, young man who treats her with grace and dignity, and who by all glances is a model of Christ, despite being raised in a family of Jewish faith.
And while we’ve only had a few brief conversations, I’ve found myself naturally focusing on the “make a friend” and “be a friend” aspects, while at the same time hinting at my faith and leaving the door very open for a future dialogue on Christ should he want to take that next step. And based on our chats when he visited us a few weeks ago during Spring Break, I sense he’s very receptive to that discussion … but when the time is right.
In other words, I’m not trying to force anything. I’m just trying to be a friend.
The third field of ministry is our society.
In this field, we’re called to work for justice amidst a larger backdrop.
For our world doesn’t consist of one-on-one relationships alone. Rather we’re part of an integrated society and culture, families, organizations, institutions, workplaces, and governments.
And we influence society by how we do or don’t participate as Christians. For we’re called to help Christ transform our part of the world into a more Christ-centered, loving, and just society.
Examples?
Just look around you. Look at your tables. Look at the names on your table and room gifts. Look at the names on the prayer wheel. People who you’ve never met, yet who care for you and embrace you in Christian love.
This area has been a particular challenge for me, for I greatly enjoy either being alone in rest or contemplation, or interacting in quiet one-on-one discussions with close friends. [You should have seen the first time I had dinner with my Italian fiancée’s family where ten simultaneous table conversations was the norm. That was over 25 years ago and I think my head still hurts.]
But as with most aspects of our Christian journey, I try to simply improve over time and have at least made some small progress in this area … whether it be by being more accepting and receptive to my larger family, or by facilitating our church’s Alpha program, which some of you may know is a 13-week bible-based introduction to Christianity. Like Emmaus, that effort has had a profound impact on my life, as it’s had on the millions of people who have attended across the globe.
For our mission is to help Christ change our community and influence groups that by their size, scope, and added hands … can compound the positive effects of God in our world.
So what can we do?
Well, we can identify situations of human need. And we can look to Christ for guidance.
For as it written in Matthew 25: 34-40,
34 “Then the King will say to those on his right, ‘Come, you who are blessed by my Father; take your inheritance, the kingdom prepared for you since the creation of the world. 35 For I was hungry and you gave me something to eat, I was thirsty and you gave me something to drink, I was a stranger and you invited me in, 36 I needed clothes and you clothed me, I was sick and you looked after me, I was in prison and you came to visit me.’
37 “Then the righteous will answer him, ‘Lord, when did we see you hungry and feed you, or thirsty and give you something to drink? 38 When did we see you a stranger and invite you in, or needing clothes and clothe you? 39 When did we see you sick or in prison and go to visit you?’
40 “The King will reply, ‘Truly I tell you, whatever you did for one of the least of these brothers and sisters of mine, you did for me.’
After identifying a need, we can then work to correct the situation, even if it means taking an unpopular stand. We can influence groups, organizations, and businesses of which we are a part with our Christian values. And we can call them to be partners in the road to a better world, instead of obstacles along the way.
Yet works of both mercy and justice are necessary.
For example, providing food or shelter to the hungry and needy is an act of mercy, while justice aims to determine why people are hungry or homeless. Loving simply by mercy without acting justly to address the cause falls short of changing our world … like putting a band-aid on a gaping wound.
And by combining these acts with a joyful witness for Christ by our attitudes and words that He is the source and strength for our zeal and passion, both change and enlightenment can work together to work miracles.
The fourth and final field of ministry? Our world. In Matthew 28:19, Jesus tells us to go into the world and make disciples of all nations.
Some will be called to respond to such a call physically … perhaps in the form of a mission trip or other outreach effort. Others may be called to support these efforts financially … or through prayer. And yet others may simply be called to testify to other parts of the world in a virtual manner via the Internet … and isn’t it a tremendous blessing that we can use the wonderful technology of the Internet to reach every corner of the globe, and to do so in a positive, Christian manner.
And while the Internet – like much of life itself – has pockets of evil and landmines which we must avoid, I’ve personally seen dozens of examples where friends or peers have used tools like Facebook, YouTube, and personal blogs to share their Christian witness and story with others.
So what is our plan? What is your plan? What can you do now to make a difference?
It may be helpful to remind ourselves that the validity of our witness is not proven in immediate results. For some Christians will plant, some will water, and some will harvest.
Yet as disciples, we are not called to be successful, but to be faithful … doing what we can, with what we have, where we are, to advance Christ’s kingdom “on earth as it is in heaven”.
Yet in order to do so, we need a plan for change in ourselves, in our relationships with others, and in our community with the world.
I’ll leave you with one final thought.
A few weeks ago, my wife and I had the wonderful opportunity to visit Aruba. It was the first vacation we’d taken together in over 20 years, during which time we had the opportunity to tour the island.
There were two types of tours from which to choose. We could travel along the main roads by bus … or by landrover that would take us along the rocky coast and over mountainous terrain in roller-coaster fashion that often had 60 degree inclines.
The smooth, air-conditioned, bus option would have been the safe choice … especially for this man who has a fear of heights. You could say it would have been the comfortable choice.
Yet we opted for the landrover option – even with its accompanying challenges and my personal fears – so we could experience the island and all of God’s glory.
And while my eyes were closed at times, and my hand imprint is likely forever on my wife … and the cast iron rollbar I was gripping during one particularly steep climb, I think in the end it was the right choice.
I guess where I’m going with this is that I think it’s darn tough to see the world … never mind change it … from the inside of a comfortable bus. You see, the longer I’ve lived, the more I realize that life is not about personal comfort … and we need only look to Jesus’ sacrifice to fully understand that.
And far too often, I’ve chosen the bus.
Yet as we all go forth beyond this week and consider ways to help change the world, I encourage each of us to choose the landrover over the bus.
It’s what my parents, grandfather, and daughter did.
The ride will likely be rocky and at times, and you’ll no doubt occasionally need to hold on for dear life. But I guarantee that God will be at your side, and the result will be His everlasting imprint on this world.
De Colores.
Special Post – My Birthday Wish
Posted by: | CommentsOn his day, thank you for giving me the tremendous gifts of grace and patience in the form of 51 years worth of time. Time to better understand you, and time for me to experience the thousands of occasions you have forgiven my repeated shortcomings and allowed me to make course corrections … albeit far too slowly and stubbornly.
Thank you for never leaving my side even during all those times I deserted you, and help me better reflect your grace, love, and light in whatever remaining years you have planned for me in this temporary home.
I need no gifts on this day, and ask that you instead direct your blessings to all of my dear friends and family who have all given me a piece of their lives, no matter how small or brief. I ask this and thank you in the name of your Son.
MERRY CHRISTMAS TO ALL
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Yes, the Grinch stole the tree and it hasn’t yet been returned …
… but the star remains.
Thank you God for the everlasting gift of your Son.
May we continue our journey in this fallen world to be continously reshapen in His image until we finally see you face to face.
Indeed, the “star” will forever remain.
Merry Christmas to all.
The Weekend Trader Part 2 – A Worldwide Prayer For Industry Healing & Recovery
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To the worldwide trading community, amidst the current industry turmoil and substantial theft of hundreds of millions in assets that have affected the lives of thousands, I ask that you pause for a few minutes each day and join me in the following prayer for recovery and healing, and that you consider passing this to others throughout the industry.
Oh merciful and powerful God, we thank you for every good thing that you’ve blessed us with. We know that we can’t take even one breath without you, and we thank you for sustaining us each and every day.
We thank you for our families, friends, and a the beautiful gift of a world where we can fully develop into who we are meant to be.
We know that we are all imperfect and fall short of your glory, and too often focus on our needs, wants, and desires … desires that too often turn our true need for daily bread into a selfish persuit of greed. For that, we ask your forgiveness.
We thank you for a world of second chances where the opportunity to forgive – and to be forgiven – is an immense gift beyond our limited comprehension.
Help us put the events of the past week in their proper perspective. Help us to remember the far greater priorities of family, friends, health, and love above the concept of worldly asset allocation.
Help us remember that all assets on earth are yours, that we are all merely stewards of them for a finite period of time … until we hand the torch to others.
For those who have taken assets unjustly, we ask for your forgiveness, and for your help in allowing us to forgive them.
For those toiling to locate and return the assets, we ask for your powerful insight and guidance.
For those from whom assets were taken, we ask that you sustain them with love and patience, comfort & heal their wounds, and make them whole.
For those whose assets are returned, we ask for your guidance in deploying them for your good.
Father, help us to see the good amidst the rubble, the smiles among the tears, the rose among the thorns, and the emerging flower amidst the volcanic ash.
Help us reflect your glory and be a beacon during these difficult times, and help us fight through the fog of our own humanity to focus on the one true Light.
We know that when two or more are gathered in Jesus’ name, He is with us, and that through Him ALL things are possible and beautiful.
We ask all of these things in His name.
Amen.
Thursday Notes – Revisiting Lessons From The Greatest Coach Ever
Posted by: | CommentsSometimes … no, make that MOST of the time … it takes hearing things two or three times to hit home.
And it’s in that spirit that we continue our summer theme of key blasts from the past.
Here’s one of my favorites from about a year ago, especially as it relates to Mr. Wooden’s final comment about being morally and mentally conditioned between — in our business — trading days.
For this trader, there is a 100% DIRECT correlation between being finely tuned morally and mentally and producing superior — or even ANY — trading results.
A lesson that I’ve learned far too many times and unfortunately, continue to learn on a daily basis.
# # #
Lessons From John Wooden – Initially published 6-5-10
His record as a coach was unmatched.
His record as a human being may be as well.
- A 99 year life.
- An 88 game winning streak.
- 10 national championships in 12 years.
- A 38 game NCAA Tournament winning streak
- The best coaching record in the history of basketball.
- A Christian and a gentleman who took the Midwest, one-room schoolhouse values to a west coast campus in disarray and moral decline in the 60′s and changed its world.
With this weekend’s passing of basketball coaching legend John Wooden, let’s look back at some of his memorable quotes — which aptly apply to the world of traders and their coaches — with my thoughts in italics:
Be quick but don’t hurry. Wholesale (a.k.a “profitable”) trading is all about timing. Wait for the wholesale price positioning and only then grab it quickly with both hands.
A coach is someone who can give correction without causing resentment. I can do better here.
Adversity is the state in which man mostly easily becomes acquainted with himself, being especially free of admirers then. Can you say October 6, 2008 or May 6, 2010?
Be more concerned with your character than your reputation, because your character is what you really are, while your reputation is merely what others think you are. Amen.
Do not let what you cannot do interfere with what you can do. Suck at DAX trading? Stick with ES!
Don’t measure yourself by what you have accomplished, but by what you should have accomplished with your ability. As I’ve said before, it’s not greed … it’s maximizing talent.
If you’re not making mistakes, then you’re not doing anything. I’ll simply add that if you’re not making mistakes, then you’re six feet under.
It’s what you learn after you know it all that counts. Been there … and frequent the neighborhood often.
Never mistake activity for achievement. If you think you’re a good hyperactive scalper, does your bottom line concur?
Success is never final, failure is never fatal. It’s courage that counts. Again, been there and expect to visit often.
Winning takes talent, to repeat takes character. Personal lesson learned in 2009.
You can’t let praise or criticism get to you. It’s a weakness to get caught up in either one. Another personal lesson learned from years of public exposure.
Success is peace of mind which is a direct result of self-satisfaction in knowing you did your best to become the best you are capable of becoming. Never let anyone else define your success or peace of mind.
And my personal favorite:
You cannot attain and maintain physical condition unless you are morally and mentally conditioned. And it is impossible to be in moral condition unless you are spiritually conditioned. I always told my players that our team condition depended on two factors — how hard they worked on the floor during practice and how well they behaved between practices. This last quote shows me just how much more work I have to do at this end — on the trading floor and in life.
Please save a seat on the heavenly bench for the rest of us John, as we continue our practice in this pre-season called life.
The Weekend Trader – Overcoming Mistakes & Disgraces
Posted by: | CommentsHi all.
First, the weekly PivotPoint Advisors Briefing has been posted on the PivotPoint site.
Second, contnuing our recent theme of revisiting and reinforcing key posts of the last few years, here’s one from September 16, 2009 reminding us why mistakes are both necessary and critical to our long-term success, as well as the February 8, 2009 one linked in that same post where I got into one of my rants on “accepted mediocrity” which had been prompted by my reaction to a rather sick comment by one Mr. James Cramer … the final sentence of which may still be echoing around the ‘Net.
May we NEVER forget these critical concepts that form the foundation of both successful trading and life in general.
NECESSARY MISTAKES - Originally posted 9-16-09
Many of you know I have several pet peeves about this industry, including lack of transparency, poorly designed trader training by non-traders, and lack of accountability by the likes of Cramer et al. (Lest we forget that memorable “Miller vs. Barrons & Cramer” Post from February.)
Well one pet peeve that stacks right up there on my list is never being able to understand why many traders or educators never speak about that “other” side of this business — or putting it bluntly, their MISTAKES.
Think about it. Never. And some days or portions of days, I flat out suck.
Rifle through the virtual pages of this diary and you’ll see plenty of them. Who could forget that infamous day in October 2008 where I — along with the rest of the world — got the wake-up call of all wake-up calls as the VIX shot through 60. -$94K was the “tuition” I paid to learn how to trade the VIX in the stratosphere if I recall. And yes, the tuition was worth it as that week ended +$40K and month +$315K.
So that incredible month was the result of a beginning mistake. And not just your “trip on a banana peel” variety … rather it was figuratively a full blown drop from the 4th floor of a building onto a concrete walk.
Today, I made smaller mistakes in that I traded the Europe session poorly and began the U.S. session with a drawdown. Yet I was able to use the information gained and “tuition” investment (failure for the market to break down even in the stratosphere and a less than 100% focused mind) to anticipate the U.S. session rhythm, tighten up the focus, and fully negate the early draw.
And since mistakes are often the very seeds needed for success … whether it be invention of the light bulb or million dollar trading, shouldn’t we not only talk more about them, but shout them from the rooftops???
But I love overcoming them … every hour of every day.
I have to.
I’m human.
# # #
A Huge Disgrace – Originally Posted 2-8-09

I hadn’t planned on doing a piece this morning as we’re having a great stay in Boston, but a peek at Barron’s today got my blood boiling.
And just when I make a momentary vow in Friday night’s video to take a hiatus from advisory and guru bashing, Barron’s (the only after-hours market reading I ever do, and even that’s limited to two sections so as not to inject a variable which could mess with my head) leads today’s edition with “Cramer’s Star Outshines His Stock Picks”.
The article provides an extensive analysis of Mr. Hype’s abysmal performance results, includes the quote, “The only regrettable thing about any of this is that CNBC and Cramer won’t meaningfully discuss how his advice pans out”, and goes on to reference various staunch defenses of Mr. Hype’s actions by CNBC which included severely restricting Barron’s access to both the network and the hype machine.
And while I agreed with much of the content, I took significant exception to the following quote: “IT IS RARE THAT ANYONE BEATS (their caps, not mine) the market over time, so there is no disgrace in the underperformance of Mad Money’s stocks. Barron’s then goes on to admit that even their “picks” were wrong.
No disgrace? No disgrace?? [as my wife wonders why my face just turned beet red]
Here we go again.
Here’s my rebuttal.
I remain sick and tired about how “accepting” most in society are of mediocre performance. In schools, we dumb down education to the lowest common denominator such that those with the potential to make a huge difference in this world are encouraged to underperform. We give everyone awards at the end of the year for “participation”, so as not to exclude anyone from “feeling good” about themselves, including below-average Johnnie who skips out of school yet whose parents are head of the PTA.
We then take this concept and continue it in the adult world where everyone continues to believe that “average” — or far worse in this case — is also acceptable. If we were to believe the continual written and visual financial press, we’re to believe that everyone should be making money only if everyone else is. If the market is down, we all should be down … and you’d better not be up for fear of skewing the curve. Sounds just like 9th grade science.
I could write for days on this, as it attacks one of my strongest-held core beliefs that we should neither listen to the screaming hype-machine masses that are only looking out for their own individual interests and pocketbooks, nor accept the strengthening standard of mediocrity in this world. It’s as if we’ve completely lost the ability to think for ourselves which brings us full circle back to “Johnnie” needing self-interest snake oil “gurus” to tell him what to do when he’s an adult — at least in body.
Here’s a novel concept … how about if we all get off our asses, think for ourselves, roll up our sleeves, and take some responsibility for self-improvement so that the bar eventually gets raised for everyone?? My wife is cheering.
Yes, it is a disgrace.
A disgrace that none of us should accept.
We need far more Bamboos and fewer Bonsais.
The Weekend Trader – Trading Lessons From the Cup
Posted by: | CommentsSunday 6/19 Update – For all traders over 40, or for those younger who have been told they’re not cut out for this biz, you HAVE to watch this morning’s Parting Shot by Bob Ryan on ESPN’s Sports Reporters discussing Tim Thomas.
Oh, and the weekly PivotPoint Briefing has been posted in the PP Briefing Room tab … and Happy 19th to my daughter Chelsea … and Happy Father’s Day to all Dads!!
Yes, I’m a sports fan.
I’ve supported pretty much every local pro and college team near where I’ve lived which includes the New England, Seattle, Dallas, and Madison, WI (Go Badgers!) areas, but I admit hockey is my first love and I bleed the black and gold of the Boston Bruins.
You see, I have since I was eight years old.
And I’m far from alone on this … Exhibit A being this absolutely wonderful piece by ESPN’s Bill Simmons.
For you “youngsters”, watching hockey in the late 1960s often consisted of snuggling up to a black and white 14″ TV and trying to find the puck through the snowflakes of UHF (young folks can Google that!) transmission.
It consisted of trips with my Dad to the old Boston Garden (or as I used to say, “Gahden” before I lost my Boston accent in my many years of travel) in obstruction view seats behind a pole or in the nose-bleed seeds of the rafters among the Garden rats.
It consisted of playing street hockey in my driveway where I was goalie and my best friend of Chara-like size would fire shots at me, often breaking every window of the garage and adjacent porch … after which time my parents would simply replace the each window with plexiglass.
It consisted of having Bobby Orr as my hero given his combination of skill, grace, and personal humility. And yes, he’d drop the gloves and stand his ground when absolutely necessary.
It consisted of sneaking an AM radio under my pillow at midnight when the Bs were playing on the west coast.
And despite two championships in the early 1970s, it often consisted of heartbreak due to some odd team malfunction at the most inopportune times.
So you have to understand where I’m coming from when I say I had a very enjoyable week.
And yes, there are many trading lessons to be learned from the incredible Bruins’ run for what is arguably the most difficult trophy to win given the grueling two-month campaign after a full season … and I’ll use parallels to my own trading to illustrate.
In the finals, the Bs were not the more skillful team … that would go to Vancouver who had the so-called “pedigree” of high scorers, and more than a fistful of “bests” in terms of regular season statistics. In fact, the comparison wasn’t even close.
And then Vancouver got out to a two-game lead in the finals, at which time all of the historical probabilities were heavily tilted in the Cannucks’ favor. After all, the Bruins would have to win four of the next five against the best team in the world who had home-ice advantage on their side.
And then they blinked.
Vancouver thought they could simply “show up” to finish the job, while the Bruins dug deep and found their “heart”.
The Bs won Games 3 & 4 in a lopsided manner on home ice to tie the best of seven series at 2-2, lost a 1-0 nail biter in Game 5 back in Vancouver, and then once again won 4-0 in Game 6 back in Boston to set up a winner-take-all Game 7 back in Vancouver.
Yet the mistake Vancouver made was to simply believe that all they had to do in Game 7 was to show up. In interview after interview, their mantra of “don’t worry, we’re going back home and will be fine” was repeated over and over again. You really got the feeling that all they had to do was lace up their pedigree skates, and they’d be hoisting the most famous trophy in all of sports.
But as the Bruins grinded and grinded them into submission in Game 7 minute by minute, it was clear that hard work and “heart” (remember that Annie Duke interview?? … a must read for traders) trumped historical pedigree, overwhelming probabilities, and skill. A 1-0 Boston score after an extremely hard working goal later became 2-0, then 3-0, and finally 4-0.
There are of course stories like this everywhere where the hard-working and resourceful underdog overcomes all odds to win … from David vs. Goliath to the 1980 USA vs. Russia Miracle on Ice to - now, the 2011 Stanley Cup Champion Boston Bruins.
OK, what are my trading lessons from all of this.
First, hard work trumps historical pedigree. You see, by my definition, I’m not the most “gifted” trader. For I have to earn every penny via sweat and toil, while staying on guard to both protect and grow it. And despite my many market successes, I frankly and completely suck when I think I can “just show up” and sleepwalk through a trading day or week.
Second, despite the statistical odds against trading success due to the constant transfer of wealth from the vast majority of traders who “don’t get it” to the small minority who consistently win, never underestimate your potential to cross that thin line (Remember our Bamboo roots!) or listen to the naysayers. You simply have to work harder than everyone else … and all the time.
Third, make your trading a self-proclaimed personal competition. The initial trading journal portion of this blog is full of posts during my 2008-09 $2 Million run where I simply viewed that time as a personal “race” and pretended that I was constantly coming from behind. Remember that fictitious drawdown concept that has since become well-publicized and chronicled in trading journals?
And finally, celebrate and share your successes.
Tooday, there will be a parade in this city of champions (yea, we’re admittedly getting spoiled as the only city to now have a championship in every major sport in the span of seven years) where over a million people who similarly bleed Black and Gold will line the streets.
You see, deep down and like similar cities, Boston is a blue-collar, nose-to-the-grindstone working man’s town. It’s a city where sweat, toil, and sacrifice once launched a historical revolution for freedom, and where those championships – like the 2011 Stanley Cup – rooted in hard work and humility are rewarded with particularly deserved celebration.
Reaching the pinnacle of your field is no easy task. In 2008, I was blessed with a similar accomplishment in reaching the top of my field for trading performance among my asset class. And yes, for one short day and post, I celebrated it … in part to recognize 366 days of extremely hard work and personal sacrifice, yet more so to try to inspire others to do similarly. (btw, that Fireworks picture from that 12-31-08 Night to Dance post — one of the viewed posts of the blog – was actually a photo of fireworks in, of all places, Vancouver!)
Life is short, but the lessons are long.
Work, compete, and celebrate … but most importantly, Praise God, share the glory, and pay it forward.
For the latter will provide the greatest reward of all.
Congratulations to the 2011 Stanley Cup Champions … the Boston Bruins … and to all who overcome the “meaningless” odds to reach their fullest potential.
And yes, the $250 Jellie Trader Training Webinar discount remains in effect. Just email me at don@donmillereducation.com and I’ll email a special invoice.
And look for the weekly PivotPoint briefing in the Briefing Room tab over the weekend.
Thursday Notes – Graduating Into Life
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A lot has been written and passed around the industry about my successes in the mid to late 2000s.
And while the 800%+ 2004-2010 performance (including an industry leading 2008 performance for my asset class which was chronicled on a daily basis on the initial blog) is indeed 100% real, I’ve tried more times than not to use this blog and other public pulpits over the years to talk about the tougher times.
For example, the early days when I – like all accomplished traders before me – repeatedly fell as I was learning the ropes. For such was a strong theme of my public speaking and daily TradingMarkets columns and lessons in the early 2000s.
The slumps or days when it seems that I’m fouling off pitches that are so close to home runs that the bitter taste in my mouth burns.
The bangs on the head, such as those infamous October 2008 and May 2010 days.
And those occasional days — and they still happen to all of us from time to time — when I simply didn’t have the dedication, heart, nerve, or courage to trade to my level of potential.
You see, as I mentioned in December’s presentation to Linda Raschke and her team, this business is ALL about maximizing gains when the opportunity arises and you’re on your game, and minimizing the damage when all of the above happen.
And oh, will they happen.
And they’ve happened in spades to this trader.
For one doesn’t reach the heights of either the industry or - more importantly – one’s true potential, without getting dragged through the mud and barbed wire of this business.
As a trader and instructor, I find too often that traders are unwilling to do two things: (1) “Do whatever takes” to make their business work, and (2) playing it far too safe … i.e. having a tremendous lack of heart or nerve when conditions MANDATE they do.
And when I sub-optimize my own performance, I too fall into those same categories.
Examples:
Want to profit from a highly anticipated MATD? Well, you’d better be willing to get your a$$ up at 3am ET to catch the far higher probability and better paced Europe open than what many international traders refer to as the whippier U.S. “Cowboy” open.
Most of course won’t for a number of reasons … and thus settle for, well … average. Here’s a hint to all those who wonder how someone can achieve the returns I have. Get up earlier and work harder than everyone else. For example, it’s now 6:13AM ET as I write this and my MATD trading is pretty much done for the day as I was up at 3AM.
Have that 90%+ probability setup? You’d better have the focus, courage, and nerve to both take the trade AND maximize your bet size.
See the whole world running for the buy or sell buttons? You’d again better have the nerve to step in and take the other side at the right time – and EVERY TIME — while embracing that ever-so-critical concept of variance that reminds us that you WILL get dragged through the mud during those rare times when the far lower probability occurs. And you’d better have learned WHEN such timing is right.
At this end, when I don’t do the above, I might as well simply write a check out to other traders. And yes, opportunity cost is AS critical as real financial loss … even more so for traders who truly “get” this business.
# # #
In three days, my oldest daughter Courtney will be graduating from Ithaca College. She’ll have diploma in hand as she pursues her career in the media industry.
She’s heading to the west coast, doesn’t have a job yet, yet is willing to do what it takes and go through the trenches to make it work. She’s also confident that her God-given and honed abilities will further develop and serve her well.
Courtney is clearly taking a risk as she forgoes a more traditional and stable road of initial security to pursue her passion. And she’ll undoubtedly go through her struggles, get repeatedly banged on the head, and even get criticized by a few in the “cheap seats” who will never take the field.
Winning or losing won’t be the issue. Giving it her all will be.
Sounds like a trader I know.
Yet as was once said by someone far greater than me, and which I first posted on April 16:
It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man in the arena, whose face is marred by dust and sweat and blood; who strives valiantly … who knows the great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who have never known neither victory nor defeat. – Teddy Roosevelt
Across the world this month, hundreds of thousands of students are graduating from high schools and colleges.
Yet as is the case in this business of trading, such an event simply marks the beginning of a life long journey in which there is no true graduation.
And while education - whether it be college or our highly acclaimed Jellie trader video course – can instruct us how to circumvent the mud and barbed wire, we must still set sail every morning knowing we’ll get dirty and scratched.
For such battle scars will make all of our nights to dance possible.
May God richly bless Courtney, all graduating seniors, and all educators and traders throughout the world.















