One of my favorite sporting events, no events, is The Masters. Sunday on the couch watching The Masters is about as good as it gets. And as traders there are many lessons we can learn from golf.
1. Each golf shot/trade is a learning opportunity. (Phil Mickelson)
2. In golf you play the ball where it lies. You can hit a great shot and find it in a divot and you must play from there. In trading you can make a good trade, find yourself underwater in losses, and must trade out of the position. (Golf is not a Game of Perfect)
3. Golf is an individual sport and trading is an individual occupation, which you must learn to accept. (Early to Rise)
4. In golf/trading you must eliminate big numbers. (The Masters)
5. Golf/trading are skills based sports. How well you play/trade is determined by your skill level, which you only develop over time. (CNN)
6. You, and only you, are responsible for your mistakes. (7 Golf and Life Lessons)
7. You will hit bad shots and make bad trades. You must learn to forgive yourself. (7 life lessons you can learn from golf)
8. Golf is a game you will never and can never master. There is a just a continual journey to improve. Kinda sounds like trading to me. (Famous golf quotes)
9. There are ebbs and flows to the game of golf, where you play well and poorly. For most, the same is true of trading. You will have stretches where you trade and see screens well and periods where you trade like a hacker.
10. The best golfers grind. The best traders grind it out.
11. In golf you are challenged to contain your emotions. In trading you must contain your emotions. (Golf TV)
12. In golf ever great player has a pre-shot routine. Every great trader has a process to find excellent trade setups that are best for them. (Market Wizards)
13. Golfers visualize success. Traders should visualize pulling the trigger on good trades. (Dave Pelz)
14. Practice, practice, practice. Are you willing to put in the work to become great? (Michael Sedacca at Minyanville)
In the video below I discuss a great book we recommend to our traders, Golf is not a Game of Perfect, by Dr. Bob Rotella. And discuss what we can learn from golf.
*no relevant positions