{"id":49568,"date":"2020-02-21T05:00:13","date_gmt":"2020-02-21T10:00:13","guid":{"rendered":"https:\/\/www.smbtraining.com\/blog\/?p=49568"},"modified":"2020-02-21T12:28:31","modified_gmt":"2020-02-21T17:28:31","slug":"when-you-are-ready-to-succeed-as-a-trader-the-good-fail","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/when-you-are-ready-to-succeed-as-a-trader-the-good-fail","title":{"rendered":"When you are ready to succeed as a trader (The Good Fail)"},"content":{"rendered":"<blockquote class=\"instagram-media\" style=\"background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);\" data-instgrm-permalink=\"https:\/\/www.instagram.com\/tv\/B81ieYYg-o3\/?utm_source=ig_embed&amp;utm_campaign=loading\" data-instgrm-version=\"12\">\n<div style=\"padding: 16px;\">\n<p>&nbsp;<\/p>\n<div style=\"display: flex; flex-direction: row; align-items: center;\">\n<div style=\"background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;\"><\/div>\n<div style=\"display: flex; flex-direction: column; flex-grow: 1; justify-content: center;\">\n<div style=\"background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;\"><\/div>\n<div style=\"background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;\"><\/div>\n<\/div>\n<\/div>\n<div style=\"padding: 19% 0;\"><\/div>\n<div style=\"display: block; height: 50px; margin: 0 auto 12px; width: 50px;\"><\/div>\n<div style=\"padding-top: 8px;\">\n<div style=\"color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;\">View this post on Instagram<\/div>\n<\/div>\n<div style=\"padding: 12.5% 0;\"><\/div>\n<div style=\"display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;\">\n<div>\n<div style=\"background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);\"><\/div>\n<div style=\"background-color: #f4f4f4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;\"><\/div>\n<div style=\"background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);\"><\/div>\n<\/div>\n<div style=\"margin-left: 8px;\">\n<div style=\"background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;\"><\/div>\n<div style=\"width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg);\"><\/div>\n<\/div>\n<div style=\"margin-left: auto;\">\n<div style=\"width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);\"><\/div>\n<div style=\"background-color: #f4f4f4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);\"><\/div>\n<div style=\"width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);\"><\/div>\n<\/div>\n<\/div>\n<div style=\"display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;\">\n<div style=\"background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;\"><\/div>\n<div style=\"background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;\"><\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p style=\"color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;\"><a style=\"color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;\" href=\"https:\/\/www.instagram.com\/tv\/B81ieYYg-o3\/?utm_source=ig_embed&amp;utm_campaign=loading\" target=\"_blank\" rel=\"noopener noreferrer\">A post shared by SMB Capital (@smbcapital)<\/a> on <time style=\"font-family: Arial,sans-serif; font-size: 14px; line-height: 17px;\" datetime=\"2020-02-21T17:25:16+00:00\">Feb 21, 2020 at 9:25am PST<\/time><\/p>\n<\/div>\n<\/blockquote>\n<p><script async src=\"\/\/www.instagram.com\/embed.js\"><\/script><\/p>\n<p>The Good Fail is a signal you are ready to succeed as a trader.\u00a0 It foretells significant progress is near.<\/p>\n<p>What is The Good Fail?\u00a0 Let me share a small win from my personal life to explain this important experience- The Good Fail.<\/p>\n<p>One of the best additions to my weekly routine has been hiring and working with a trainer.\u00a0 Twice a week I scamper through Central Park to my local gym on the UWS, after the close of trading, and work on my fitness.\u00a0 Since I sit for hours each day and am past my playing prime (so says my son and feet, back, knees, and left shoulder), our focus is on flexibility and core strength.\u00a0 For this, we do a ton of deadlifts.<\/p>\n<p>Now prior to working with my trainer, I had never attempted a deadlift.\u00a0 Ever.\u00a0 I learned from the bottom up, like our new traders at the firm.\u00a0 As I progressed with my form, we raised the weight, with careful attention to safety (also like we do with our developing traders).\u00a0 My progression was slow, but discernible.<\/p>\n<p>We moved to one-by-one deadlifts finding my max capability.\u00a0 With improving form, we worked session by session, pushing my body outside my comfort zone with heavier weights.\u00a0 I hit a ceiling.\u00a0 I could not get past a certain weight.<\/p>\n<p>My trainer and I huddle after each lift communicating what each other thought of the lift, like a caddie and golfer.\u00a0 And to break through my ceiling, we agreed they keys were:<\/p>\n<ul>\n<li>Get in a safe position<\/li>\n<li>Pull with everything I have<\/li>\n<li>The weight either comes up or doesn&#8217;t<\/li>\n<\/ul>\n<p>I was still struggling to break my ceiling and feeling uncertain with my starting position.\u00a0 But we kept working on it.<\/p>\n<p>I got to the point where I was getting more comfortable with my starting position, feeling I was in a safe zone.\u00a0 Feeling I would not hurt myself on any lift.\u00a0 Feeling I was in a starting position where I could generate power.<\/p>\n<p>Then came one game-changing lift. One session while in this safe position, I addressed my ceiling weight.\u00a0 I got into a safe position.\u00a0 I pulled with everything I had.\u00a0 I lifted the damn bar nearly to success, but then suddenly dropped it to the floor.\u00a0 It was too heavy.\u00a0 I couldn&#8217;t complete the lift.<\/p>\n<p>I collected my thoughts on the lift.\u00a0 My trainer waited for my feedback so we could discuss the lift.\u00a0 I paused to reflect on the lift, with him staring at me to share.\u00a0 With a confident smile I announced, &#8220;That was a Good Fail.&#8221;\u00a0 I felt great.<\/p>\n<p>Wait what? Bella you didn&#8217;t succeed.\u00a0 You dropped the damn weight to the floor.\u00a0 But I had.\u00a0 Here&#8217;s why:<\/p>\n<ul>\n<li>I experienced the heaviness of my ceiling.<\/li>\n<li>I dropped the bar to the ground and nothing bad happened.\u00a0 My back didn&#8217;t hurt.\u00a0 There were not pulls or tweaks anywhere in my body.<\/li>\n<li>I earned the confidence that I could push my body to its extreme and nothing bad would happen.<\/li>\n<\/ul>\n<p>It was one of my best lifts ever.\u00a0 I could sense how important this was going to be for me to make progress.\u00a0 I was going to be able to bust through my ceiling.\u00a0 It was just a matter of time.<\/p>\n<p>Fast forward two weeks and I secured a safe starting position over the bar.\u00a0 I pulled with everything I had.\u00a0 Man was it heavy. But I got the damn bar up for a successful lift. \u00a0I posted a new personal best. My trainer gave me a fist bump and I returned it along with a huge smile of accomplishment.<\/p>\n<p>I went for a drink of water, basking in my achievement. \u00a0I was met by my trainer waiting to do his job.<\/p>\n<p>&#8220;Is that your limit?&#8221; asked my trainer.<\/p>\n<p>&#8220;No, I can do more,&#8221; I replied.<\/p>\n<p>He added weight.\u00a0 I secured a safe starting position over the bar.\u00a0 I pulled with everything I had.\u00a0 I could feel the veins in my neck straining.\u00a0 It was so heavy.\u00a0 I kept pulling. \u00a0If fact, It was so heavy I wondered if I was gonna pop a disc in my neck. \u00a0I kept pulling. \u201cCome on Bella,\u201d I said to myself. \u00a0I got the damn bar up for another successful lift- another personal best.<\/p>\n<p>Gone was my ceiling.\u00a0 It was time for another fist bump from my trainer accompanied with a huge smile.<\/p>\n<p>I tell this story because this is the same way you can improve as a trader.\u00a0 The Good Fail in a trade can spur huge improvement in your trading.\u00a0 The Good Fail for a trader would look like this:<\/p>\n<ul>\n<li>You take an A+ trade in your PlayBook. \u00a0A trade you save for your max risk.<\/li>\n<li>You place max risk for this setup, that you have determined to be appropriate.\u00a0 For us, this is a percentage of our daily max loss.\u00a0 So for an A+ trade, we might risk 30-50 percent of our intraday max loss on a terrific trading opportunity.<\/li>\n<li>You gain the experience of feeling the discomfort of taking your max risk in a trade. \u00a0Feeling what this is like is an experience that will help you grow as a trader.<\/li>\n<li>The trade fails.<\/li>\n<li>But nothing bad happens.\u00a0 You are marked down some money.\u00a0 Your trading account is still healthy. \u00a0The lights are on. \u00a0Your computer still works. \u00a0Stock prices are still flashing on your computer open for the next opportunity.<\/li>\n<\/ul>\n<p>Having felt the experience of going for it, failing, and knowing that nothing bad will happen, you gain tremendous confidence that you can do this again.\u00a0 And when you do, you are destined to place max risk and catch your biggest winning trade.\u00a0 A trade that busts your PnL ceiling.\u00a0 A new personal best for you as a trader.<\/p>\n<p>And when you do, think of me waiting for you, with a fist pump, but then my question&#8230;&#8230;.<\/p>\n<p>\u201cIs that your limit?\u201d I will ask. \u00a0You know the answer.<\/p>\n<p>And then from there you know you can raise your risk, go for it, and break a new personal best.\u00a0 You are then a very powerful trader!<\/p>\n<p>*no relevant positions<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; View this post on Instagram &nbsp; A post shared by SMB Capital (@smbcapital) on Feb 21, 2020 at 9:25am PST The Good Fail is a signal you are ready to succeed as a trader.\u00a0 It foretells significant progress is near. What is The Good Fail?\u00a0 Let me share a small win from my personal life to explain this important &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/when-you-are-ready-to-succeed-as-a-trader-the-good-fail\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":49580,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[4678,1193,653,1989],"class_list":["post-49568","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-comments-2","tag-stock-trading","tag-trader-education","tag-trader-training","tag-trading-course"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>When you are ready to succeed as a trader (The Good Fail) | 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\/when-you-are-ready-to-succeed-as-a-trader-the-good-fail\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"When you are ready to succeed as a trader (The Good Fail) | SMB Training\" \/>\n<meta property=\"og:description\" content=\"&nbsp; View this post on Instagram &nbsp; A post shared by SMB Capital (@smbcapital) on Feb 21, 2020 at 9:25am PST The Good Fail is a signal you are ready to succeed as a trader.\u00a0 It foretells significant progress is near. 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