I didn’t trade this morning. I had ever intention to do so when I left the office last night. I like the opportunity in FB TWTR SRPT SPY IWM for today’s trading session. So this was not a decision of a lack of trading opportunity. I, personally, was not in an optimal state to trade. And therefor, I benched myself.
First, for those of you who have children, you might empathize with this next anecdote. Three times last night, while in a dead sleep, my son approached my bed, leaned directly into my right ear and said, “DAD………”. There were different iterations of what followed after DAD!, but each awoke me from a deep slumber. The fourth time he entered our bedroom he got my wife, and then caused a stir waking his sister. That set off a whole new round of sleeplessness.
Second, the night before Merritt and I traveled to Stamford for dinner with a former Hedge Fund trader, firm trader, Dr. Steenbarger. It was a great time. We got back very late back in NYC 🙂 So I started last night needing to catch up on some sleep.
Further, I had a very bad night of eating. I got into some foods that do no lend themselves to moderation. I know my performance wanes when I am not feeling optimally fit.
Finally, a European trader just starting to have success reached out to ask a trading question. He was finally positive on his balance sheet, yet experiencing hesitation pulling the trigger with some trades. And we were exchanging ideas as to why this was so. I shared with him what holds me back:
For example, I need to be very prepared to be successful.
I need to feel like I am better prepared than anyone else.
I need to feel very comfortable that I have put the work in and deserve to succeed.