There is no script. Be in this moment. Trading is Improvising.
- Posted by chicagosean
- on May 5th, 2013
Twitter CEO Dick Costello gave the Spring Commencement speech at University of Michigan yesterday afternoon in Ann Arbor, Michigan (in the BIG HOUSE!). Little did I know he and I have so much in common.
He and I are both Graduates of Chicago’s Second City Improv Training Center.
In the above speech, Mr. Costello goes into detail about how his time spent at Second City greatly shaped his outlook on life and the framework from which he makes decisions. One of his greatest takeaways from the experience was to “make bigger choices.” I couldn’t agree more.
He also reminded me of one the other basic tenants of Improv: “There is no script. Be in THIS moment.” Please set aside 17 minutes and watch the above speech. It is fantastic.
Meanwhile, while watching this speech I couldn’t help draw the parallels between what I (and other Improvisors) would attempt to do on stage, to what Trader Seany does in the daily grind of market participation.
In the markets, there is no script.
Yes, patterns repeat themselves (I hear you, Chartists!). But as much as we Traders often attempt to create a narrative in our heads and then try to project our plot upon the markets, we’re often reminded the Market doesn’t give a damn what we think and it just exists in this moment. And then the next moment.
We as Traders will be most successful when we plan for certain contingencies, but allow ourselves to exist in the moment – whatever the markets are offering us. Like the bamboo tree, bending with the shifting winds instead of rigidly resisting (sticking with our narrative) and then having our limbs snapped in the next fierce blow.
Now I really miss my old Second City Group. Some of the best friends I’ve ever made…
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Sean McLaughlin - Editorial, Curation, & Investor Relations Solutions at StockTwits. Also, former Member of the Chicago Board of Trade who trades his own account in Boulder, Colorado. More »
- The “Stock Market” Does Not Owe You Anything
- Simple. But Smart?
- Early Candidates for 2014 Asshat of the Year Award: Hero Edition
- Dealing With Performance Anxiety
- Developing The Right Mindset
- Anecdotal Bullish/Bearish Sentiment on StockTwits
- Why I Love StockTwits: Community
- Do You Factor “Luck” Into Your Strategic Process?
- Stocktoberfest Late-Night
- Where The Magic Happens