Who the hell is Dean Karnazes you might be asking. Well, he has been dubbed the “Ultramarathon man”.
This guy ran 262 miles without stopping.
He is the only person ever to run a marathon in running shoes (rather than snow shoes) at the South Pole.
He once ate an entire pizza AND an entire cheesecake while running.
He has an unbelievable tolerance for pain.
What does any of this have to do with options trading? Well, not a whole lot directly, but I just finished reading the book and I feel like I have a new lease on life. So it got me thinking, what lessons can I take from this book that might be applied to options trading?
Firstly, the dedication that is takes to do what he does is phenomenal. Did I mention he did all this while maintaining a 9-5 job and supporting a wife and 2 young kids? If we could manage to tap in to some of that dedication, we would all be much better traders.
Are you being dedicated and consistent with you trading and trading education?
Are you reading the books you need to read and learning everything you can? Or are you sitting like a slob on the sofa every night?
Are you being consistent in your trading process? Are you following your rules?
Trading takes mental stamina. It can get difficult at times. Are you mentally able to push through barriers and psychological blocks after difficult periods? Or do you give up and lose focus because it is too hard?
The main thing that struck me from this book is that you can always do more, you can always push that little bit harder. I guarantee you there is more that you can be doing to achieve your trading goals. Those who succeed are the ones who are willing to do more than the next guy. Those who succeed push through and stick it out when things get tough.
I totally agree with you. dedication and discipline are among those crucial key factors to be a successful trader.
Thanks for the comment Rafi! Good to see you back here.