{"id":25608,"date":"2013-03-29T15:29:47","date_gmt":"2013-03-29T19:29:47","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=25608"},"modified":"2021-05-11T16:04:43","modified_gmt":"2021-05-11T20:04:43","slug":"is-there-power-in-negative-thinking","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/is-there-power-in-negative-thinking","title":{"rendered":"Is There Power in Negative Thinking?"},"content":{"rendered":"

Is it productive to think negatively as a trader? Bobby Knight, National Collegiate Hall of Fame coach, thinks so.<\/p>\n

Coach Bobby Knight says that when he first started coaching one of the worst things he would hear was \u201cIt will be O.K.\u201d Not only that, Knight says, as he did in a recent New York Times<\/em> interview<\/a>, that \u201cthe worst word in the English language is \u2018hope.\u201d Clearly, Knight is bucking the trend of positive thinking. Why? And what does Knight say that offers value to traders? Plenty, in fact, and it all stems from his new book called The Power of Negative Thinking<\/em>.<\/p>\n

In an interview on WYNC’s The Leonard Lopate Show<\/em><\/a>, Knight says positive thinking can be detrimental to achieving top\u00a0performance in any field. How so? Knight\u2019s reasoning is straightforward: positive bromides are useless if they aren\u2019t backed up hard work. Just thinking you are going to make money as a trader tomorrow without improving your skill will not work.<\/p>\n

Here are a number of common expressions that Knight doesn\u2019t like: look on the bright side; there\u2019s no shame in defeat; in the end everything works out for the best; time heals all wounds. One that sticks most in his craw is: \u201cThings will be better tomorrow\u201d\u2014to which Knights asks, \u201cWhy<\/em> are they going to be better tomorrow?\u201d Knight says that we all have the will to win. After all, who wants to lose? But a will to win is of no help unless you have the will to prepare<\/em> to win. At SMBU we often say how you do today is determined by how hard you prepared.<\/p>\n

Two of his ten commandments of negative thinking: \u201cDon\u2019t accept the status quo\u201d and \u201cAlways worry\u201d. That second one may be startling, but Knight says \u201cworry has won a lot more games than confidence has.\u201d If you\u2019re not paying attention to what your opponent is doing or might do, complacency will set in, and in Knight\u2019s view complacency is always going to lose.<\/p>\n

Here\u2019s a prime example of how negative thinking can achieve a positive result. He said that when he was preparing for a game he\u2019d always ask himself a question: \u201cWhat can they do to beat us?\u201d And then he would ask himself, \u201cWhat can we<\/em> do to beat them?\u201d You can see a great analogy for trading: \u201cWhat will the market do to kick me out of the game?\u201d And then you need to ask yourself, \u201cWhat kind of preparation can I do so that I can stay in the game?\u201d<\/p>\n

Let me leave you with a final thought from the Lopate interview: \u201cIf you play not to lose, you\u2019re going to lose a lot.\u201d And how would we translate that for trading? That\u2019s easy: If you trade to not lose money, you\u2019re going to lose money.<\/p>\n

So stay negative\u2014but only as a way to get you to positive results!<\/p>\n

See a related post: How Happy Should You Be?<\/a><\/p>\n

You can be better tomorrow than you are today!<\/p>\n

Mike Bellafiore<\/p>\n

The PlayBook<\/a><\/em><\/p>\n

One Good Trade<\/a><\/em><\/p>\n

\"\"<\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Is it productive to think negatively as a trader? Bobby Knight, National Collegiate Hall of Fame coach, thinks so. Coach Bobby Knight says that when he first started coaching one of the worst things he would hear was \u201cIt will be O.K.\u201d Not only that, Knight says, as he did in a recent New York Times interview, that \u201cthe worst … Read More<\/a><\/p>\n","protected":false},"author":1037,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[2444,2449,4703,2834,2241,2448,2451,4706,4707,1718,2533,653,2445,1989,4712,4690,1888,207],"class_list":["post-25608","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","tag-daytrading","tag-how-to-be-a-day-trader","tag-learn-trading","tag-negative","tag-power","tag-prop-trade","tag-stock-market-course","tag-stock-trading-education","tag-stock-training","tag-the-playbook","tag-thinking","tag-trader-training","tag-trading-careers","tag-trading-course","tag-trading-courses","tag-trading-education","tag-trading-school","tag-trading-stocks","no-post-thumbnail"],"yoast_head":"\nIs There Power in Negative Thinking? | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/is-there-power-in-negative-thinking\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is There Power in Negative Thinking? | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Is it productive to think negatively as a trader? Bobby Knight, National Collegiate Hall of Fame coach, thinks so. Coach Bobby Knight says that when he first started coaching one of the worst things he would hear was \u201cIt will be O.K.\u201d Not only that, Knight says, as he did in a recent New York Times interview, that \u201cthe worst ... 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