Podcast – Episode 98 – No Sex For You
No sex for you. That’s right, I said it, no sex for you. Well, not for me anyway. Like that was ever gonna happen. But still, hey, passive traders, I’ve been reading a book called Your Next Five Moves. And it’s a book about business strategy. So the author of the book is saying that a Grandmaster of chess, when they play chess, they can think 12-14 moves in advance. So if I do this, he’s gonna do this, if I do this, he’ll do this, if I do, this opponent will do this. For 14 moves, right? In business, the author says, you should be thinking at least five books ahead. I’m reading this book trying to apply it to Okay, you know, that’s for a business, how do we apply this to trading? You know, how many steps ahead should a trader think? And how do we apply these strategies to trading? So I’m reading through the book.
And obviously, in chess, you kind of have a finite area, right? So the chess pieces can only do certain things, you can only move in certain directions, whatnot. And so when you’re a grandmaster, and you do a move, you can sometimes kind of force the opponent to make a conflicting move. So if I do this, he has to do this kind of thing, right? Because if I put him in check, then he has to get out of check by moving this or this or something.
So you kind of you can kind of structure that out many, many moves in events, even in business, you know, the guy says, Well, you know, you gotta have, you gotta be in charge of yourself. And you have to know that, hey, if I’m going to ask for a job, or a raise, and my job, then I need to know what could happen. So first of all, I need to be prepared, I need to show my value, I need to ask properly, I need to know what’s in the best interest of the company and present it that way. So you have to have your presentation plan, that’s like one move.
The second move is what’s gonna happen if they say, yes. The third move is what’s gonna happen if they say no, and then can I back that up? Am I going to give them an ultimatum? I’m gonna do this. And if I do quit, then what am I gonna do that? what’s what’s my mood that so basically just thinking about, so if this happens, I’ll do this. And this, and this giving ourselves options right? Now in trading, we are trying to be in control, and we try to stay steps ahead, but the market does whatever the market wants. So we’re more in a reactive mode than in a active mode. That’s why it’s passive trading, not active trading. If you’re a day trader, good luck. You know, I don’t have the stomach for that all the time. So, how does a trader think many steps ahead? Well, number one, when you put on the trade, you have to have a trading plan. So that’s obviously a step number two, the trade can go in your favor, or the trade can go against you.
So you got to know what to do in either situation. Number three, the trade if it goes against you can go against you very wide, violently, and suddenly, or if you go very slowly against and you have to have moves for both of those aspects involved, you have to go thinking ahead for what are the small moves? What are the small things that could upset my trade? And then what are the big things that could upset my dream? Real micro and the macro? And then what are you going to do when the micro ones What are you gonna do on the macro lens? Right? And then you have to worry about not just the trading aspect, but you got to worry about your personal aspect. So what happens if I cannot get to the trade? What happens if something happens to the trader, right?
Maybe he has a headache that day, maybe he is sick, and he has to go to the hospital for several days, then what happens to the trades? You have to have all of these things thought out in advance to be the best trader that you can. So yeah, there are several trades that we can do, as are several moves that we can do as a trader, and just really thinking about what is the risk?
And what am I going to do to counter that? So I’ll do this. This could happen. What do I do with this, this could happen? What do I do? The longer you get into trading, the longer you do it, the more trades you put on, the more you’ll see what could happen, what could go wrong? And then you’ll have experience and you’ll be like, Oh, yeah, I remember that happened one time before.
This is what I did. And it worked out. Well. That’s why we also do backtesting, the more experience you can get under your belt. The more situations that you see, the more it’ll be muscle memory, and then you’ll be like, Oh, if this happens, I can do this. If this happens, I can do this. Because when you’re first starting out, you don’t know what you don’t know.
And that’s why it’s so important to have a mentor to have a coach, have somebody guiding you along and be like, hey, relax, calm down. This is what’s going on. How are you going to deal with it? You can do a you can do B, to C to D which one? What are the pros and cons of each? What do you think is the best one proceed that way and let’s see how it goes. Now mentor coach is not going to guarantee that he can help you be profitable, or get you the right answer every single time.
Sometimes it’s just not possible, right, they’re gonna be lost, it’s, of course, that’s part of the game. Otherwise, it wouldn’t make any money for us. If it was so easy, you just win every single time, there would be nothing you make, right? That’d be like buying a CD, you get like 1.1% on a CD. So the reason that we make money trading is because there is risk and there are losses. So you have to also have a move for how do you handle the loss? emotionally, and financially? You have to be aware of both situations.
So now, coming back to no sex for you. All right. You’re probably wondering, okay, how’d you get to this from that? Oh, well, in the book, the author Patrick Bet-David. He was a young kid, and he’s telling his own story. And His goal was to become, have his company do a million dollars in sales? And so he was doing well or something.
And then he was, I guess he was outside of a nightclub something happened? I don’t know. I don’t remember the exact story. But somebody asked him, hey, how are you going to know? What’s your goal? Are you know that you’re successful? Or what are you going to do to make yourself successful? I think that was the question, what are you going to do to make sure that you are successful, and he said that he was not going to have sex until he got a million dollars in sales in his company.
And he took him something like 18 months or something like that, that was really cool. You know, because that was for him that was a big deal. Because he was like, in his 20s, or 30s. And he was very sexed-up. Supposedly, that’s that’s what he says in the book, he liked to party you’d like to hang with women, you’d like to drink. That was his thing when he was younger. And so for him, that was a big, big, big sacrifice. What is the equivalent to you? Right? How are you going to know when your moves are lined up? And how are you gonna know when you hit your goal?
And what are you going to do to motivate you to hit your goal? So, you know, part of this podcast is, I’m trying to attack you in different ways to try to get you to take action, try to get you to think about different things that maybe you haven’t thought about yet. Or maybe if you have thought about them, but you didn’t get my second thought, or you didn’t think about them enough. So I’m trying to re-hit you be like, Oh, hey, think about this.
Oh, hey, what do you do about this? Oh, eight? What do I do? I can’t give everybody the answers, because the answers are different for everybody. So the question is, if you haven’t gotten started yet, or if you hadn’t hit your goals yet? The reason is probably not because you are lacking all the tools. The reason is something internal. And you can make whatever excuses you want. I don’t have the money. I don’t have the time. I don’t know, the proper education.
Those are great. You have the same amount of time everybody else has. You have access to all the education you need through Option Genius. And in terms of money. Well, you know, what are you gonna do? How badly do you want it? What is the goal? Number one, do you know your “why” is it really, really important to you? And what are you going to do to get it? So in the beginning, it doesn’t even take money to start, you need to back testing, you need to do paper trading, that doesn’t take a lot of money. It’s free. For the back testing, you can buy software, it’s like 500 buck, a year, for some back testing software, build up track record. And then you can find the money.
There are lots of investors out there that will fund somebody take a chance on you, if you’ve been shown that, look, I know how to make money. I mean, I’ve done it, I know other people that have done it. And even if you give them 100% of the gains, you look to somebody, you say, Look, I know how to make money, funded open account, I’ll trade it for you, you keep all of the money. I’ll do it for you for free. That’s kind of weird, right? You get to work for free, make all the money that guy gets all the money or the other investor gets all the money, you get nothing. Yeah, if that’s what it takes.
That’s you’re getting your practice with no money at risk in the money with real with real money in the markets. Right? I mean, you can’t get like any better, no risk situation and obviously, we lose money, the guy’s gonna hate you. That’s the way it goes. If you are motivated enough, you will find a way. Now, for those of you who are not motivated enough, that’s where it comes to. Right. That’s where that’s where this question no sex for you or this idea comes from. So if you don’t have that motivation to just go nuts and do whatever it takes, then maybe you need to sacrifice something, maybe you need to take something out of your Life until you hit your goal.
So you got to carry and you got to stick. So what is it? No fast food? No beer, no TV? I don’t know, what is that thing that you spend time on or money on? That is pleasure for you but it’s taking away time that you could be spending on learning how to trade and getting better at your trading? Figure it out, and then set your goal and say, Hey, you know what, I’m gonna make XYZ dozen dollars in the next month, or I’m going to make 50 trades and the next two months, or I’m going to make, you know, I’m going to learn this strategy. And I’m going to put on my first trade.
And I’m going to make 10% on one trade, whatever, whatever your short term goal is, or maybe your long term goal, you know, the author, Patrick’s goal was $1 million in sales. And obviously, it takes a whole while to get to that number, right. So maybe for you, it’s a “I want to make $50,000 from my training”.
Great. I love it. That’s an awesome goal. What are you going to give up? Or what are you going to stop doing?
To keep you motivated, keep you hungry until you get to that goal. That’s what sex is for you. So maybe it is sex. I’m sure your spouse might not agree or your boyfriend and girlfriend, whatever. But if that’s what he thinks that’s what it takes, and then maybe you’ll get some help from them, right? You’ll get some extra motivation from them be like “Hello, hurry up here, please and get your gold” and it would be hilarious. But still, what is it figured out? What is the goal? Figure out what you’re willing to sacrifice? Until you get triple? All right. So if you do if you do this, I would love for you to email me and let me know what you have decided to do. That would be cool.
Just let me know. Email me help at option genius, calm and let me know what you’re deciding to do what you’re going to what you’re going to sacrifice and give up until you hit your goal. So let me know, give me an email with your goal and what you’re giving up. I would love to get these emails from you guys. I answer every one of them personally. So just let me know and keep the odds in your favor. Talk soon.
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