Trading for Money or Sport: The Thrill of Beating the Markets

The Thrill of Trading

I have been a trading coach for many years, and I’ve never once told anybody that “trading is for anyone,” or, “anyone can become a successful trader.” There are many in the industry who will tell you this, and just about anything else you need to hear, for that matter, to convince you to buy their course, or strategy, or whatever it is their selling. But, this is a misleading statement. 

That’s because, if you are truly going to make a career out of trading, you have to love the thrill of beating the markets for fun and money. The truth is that since being a trader can be difficult, to be a trader in the long term, and to become a successful trader, you have to love it. 

The markets are driven by emotion. This is because, at the other end of all the orders flowing through it, the strategies, and the bots, there are human creators/operators – all trying to do the same thing you are: beat the markets and turn a profit. Given that humans, by nature, are emotional, the trick is to learn how to manage, and ultimately control those emotions. 

I have seen a lot of traders come and go – I’ve seen a lot succeed, and I’ve seen a lot fail.  I have dealt with people who were so emotionally bulletproof – the kind of people who, even in the face of adversity, make Buddha look like Rambo. I have also coached people who were emotional wrecks, and just about everything in between.

I have also seen both extremes fail and quit trading, and I have seen both extremes go on to become very successful career traders. Those who went on to find success may have had different temperaments, strengths, and weaknesses, but they all had one thing in common: they love the thrill of beating the markets. For them, it’s not just about the money, it’s about the fun, as well. 

The Importance of a Trading Plan

An effective trading plan includes many things, such as your reason(s) for trading, your S.M.A.R.T. goals, and an outline of your strategies, among other things. But, I also get my students to write statements to themselves. The idea is that they’ll write two statements – one for good days, and one for bad – that they can reference every day, to remind themselves of why they are traders, what they are doing, and to stay grounded. I’d like to introduce you to one of my long-time students, turned junior trader, Andreas. 

Andreas has been training with me for a few years at this point, and though he has yet to achieve consistent profitability, I am confident that he will. I want to share with you the basis for my confidence, so to do that I’ve asked his permission to share his statements with you, to which he generously agreed. 

First, here is his statement for the good days:

“Dear Andreas,

Remember to have patience, stick to the plan, and go with the flow. Follow the trend. Don’t try to improvise, don’t try to press things, to be in haste or speed things up  –  A good trading day also includes profit. 

You have to be rough with yourself and easy with everyone else, that’s how you were trained, HOWEVER, you did a good job today. You did great! Amazing! You are awesome. You followed the rules, you did what you had to do. 

You love this, don’t forget that. Now, review, rest, and repeat the same again tomorrow!

With love, and kisses goodbye,

Andreas”

The “kisses goodbye” thing is something that Andreas tends to say when he is trying to emphasize a point, usually involving the market moving aggressively either to the Take Profit or the Stop Loss. The first time he said it, I remember I couldn’t help but laugh, which became something that has happened every time since. So much so, that I now try my best to end most, if not all, of our daily trading sessions by saying “kisses goodbye.” 

His statement is fantastic, which is why I asked for permission to include it. He begins by reminding himself to have patience and stick to the plan. Again, a trading plan is an absolutely essential component of becoming consistently profitable. He ends the statement by reminding himself that he “love(s) this,” meaning, he loves the thrill of beating the markets. 

“You love this, don’t forget that.”

Now let’s take a look at his statement for bad days:

“Dear Andreas,

You’re going to lose. Remember, that’s part of the plan. 

First of all, remember that this is a CRUCIAL part of trading. Even the best traders cannot avoid losses. Remember that THE BEST LOSER WINS, so you have to LOSE WITH GRACE.

Accept the loss, but do take a lesson from it, so that in the future, you can better understand the markets and yourself. 

PLEASE, do manage your F******* TEMPER. Stop reaching the BOILING POINT from 0-60 in 1 second or less. Remember not to chase the losses – if it feels right that you should not continue trading, avoid trading further. 

It’s time to review the losses, calm yourself with whatever soothes you (walk, swim, see your son, see a good friend, etc.). Find your center again. Accept that the day is over and move on. It’s easier said than done, but you need to remember that this is part of it. Losses happen. Tomorrow will be better.

You love this, don’t forget that. Now, review, rest, and DO NOT repeat the same again tomorrow! 

With love, and kisses goodbye,

Andreas”

This is also a phenomenal statement, because he begins by reminding himself that losses are part of it. There is no such thing as a strategy that works 100% of the time. Losses exist, they’re an integral part of any trader’s daily life, and a healthy relationship with losing trades is essential for developing as a trader and achieving consistent gains. He even acknowledges that he has a temper, and uses an expletive for emphasis, as he implores himself to control it. He then reminds himself to a) gain wisdom in place of profits on the trade, and b) that he loves this. 

As part of our work together, I have him back test our strategies alongside me. If you could see his face when he returns with results – you’d think he was let loose for a few hours in a Lamborghini or something. He is absolutely exhilarated. He can spend hours studying the charts and be having the time of his life. 

I loved these statements and was so adamant about including them in this article for a lot of reasons, but the thing that stands out the most is this – Andreas, like me, has been through a lot over the past few years. His journey has certainly not been an easy one, and like all our journeys, this is ongoing, with each day being a new page in the next chapter of his trader’s story. There have been plenty of occasions when he could have quit. Given the circumstances, he probably should have quit – a few times. There have even been times when he’s thrown his hands up and declared that he was quitting, or at a minimum, taking a break. 

And there have even been times when I have encouraged him to take the break. I’ve agreed and told him he’s got to sit it out for a while and calm down. But wouldn’t you know it? About as sure as the certainty of the sun rising tomorrow – Andreas shows up. 

I’ve been training with Andreas for a few years at this point, and I can tell you one thing’s for sure every day – If it’s raining, he’s there. Oh. he’s not feeling well and has a house full of family sick with COVID? Doesn’t matter, he’s there. Oh, he’s going through a horrible heartbreak and severe distress? He still shows up. Why? Because he loves this. He loves the thrill of beating the makes for fun and for money. 

Does this sound like you? If so, chances are pretty good that you too will go on to become successful over the long term, too, because your love of trading will, hopefully, give you the same persistence as Andreas. 

The problem you face is the same as every aspiring trader, though. 

The Circular Problem of Aspiring Traders

As I discussed in my previous article, “How to Use BullRush Competitions to Level Up Your Trading Skills,” the problem aspiring traders face in truly becoming a consistently profitable trader is circular, because you can’t possibly achieve consistent profitability without real-world experience. That is, actually trading the markets where something is at stake. In other words, having something there for you to lose or gain as a result of your trading. 

But, putting your own live capital at risk in the markets before you have sufficient experience is incredibly risky, and statistically, it will almost certainly result in you losing all your money. See, learning market theory without obtaining real-world experience is kind of like when you are a job applicant who is fresh out of college, applying for your first job, and you are told that you don’t have enough experience. You have no experience because you have never been hired, but you can’t get hired, because you have no experience. 

The Competitive Nature of Trading

The truth is, trading is thrilling. For those of us who are crazy enough to love it, getting the call right and beating the markets is exhilarating. But, we need an outlet where we can trade the markets and still gain something without taking unnecessary risks.

BullRush trading competitions offer the ideal solution to this, by allowing you to pursue the thrill of beating the markets, in a less risky competitive environment, without having to risk your own capital. 

As humans, we are, always have been, and always will be competitive by nature, and since the dawn of time, humans have been competing in all areas and aspects of life. In the world of sports, there’s MLB, NFL, NHL, NBA, Fifa, Nascar, Formula One, the PGA, the Tour de France, and even the Annual Olympic games, to name a few! And even when we’re not tuning in and indulging in the real versions of these things, we have fantasy leagues.  The truth is that this obsession with competition is nothing new. 

Fierce, unabating competition has been the preeminent feature of all of human history, from Gladiators to jousting knights, to Thomas Edison and Nicola Tesla, to Donald Trump and Kamala Harris – all of life is driven by competition, and that’s actually a good thing!

Competition drives advancement. The Industrial Revolution led to the greatest leap in technological advancement we’ve ever seen, and this advancement continues to this day. Every year, our phones, laptops, desktops, cars, and heck, even our fridges, are getting better, smarter, faster. As they do, and as companies compete with one another to bring to market the latest and greatest, we all benefit.  

Think of it – name any product available in today’s market, and you can almost certainly conjure up their immediate competitors within seconds of pondering it. This is a fun experiment – let’s try it: If I say “Ford,” my favorite, you’ll probably think of Chevy almost immediately. Fellow automotive enthusiasts, relax – I know it’s technically GM! If I say Coca-Cola, you’ll likely think of Pepsi. If I say Boeing, Airbus should come to mind. Apple should evoke thoughts of Samsung; McDonald’s should make you think of Burger King; Visa is clearly the competitor to Mastercard… The examples go on and on and can be found everywhere!

Every major product that we use and that affects our daily lives has a direct competitor, and you most likely know, and maybe even use, their competitor. For the companies involved, it presents a challenge, because they’ve got to constantly be aware of what the competition is doing and adjust or enhance their own offering to keep up. From the consumer’s perspective, it’s a great thing because it means that we become the beneficiaries of a higher standard of living, along with the quality and value of the products and services we use daily, improving constantly. 

Applying Competition to Trading

As an aspiring trader, you can and absolutely should apply this same logic to your trading journey. 

If you want to become better, and to be the best, the only way to truly achieve that, in a controlled and fun way, is through competing with your peers. You must experience the thrill of trading, but doing so with your own capital is extremely risky. That’s why BullRush competitions are so invaluable and revolutionary. Competition forces us to not just put our best foot forward – it forces us to improve our best foot, and to ensure that our “best foot” is the best version of itself it can possibly be. Why? Because we’re wired to want to win. That’s why. Never in human history has anybody approached something and thought, “gee, I hope I’m NOT the best at this” or, “gee, I hope I DON’T become the best.”

Plus, just as beating the markets can be thrilling, a lot of the time, trading can actually be pretty boring. If you are a trader, even in the early days of your journey, you are likely spending hours each day in front of your charts. Staring at the markets can sometimes be very much akin to watching paint dry – extremely boring – particularly if you are trading something that tends to be rangebound (looking at you, Canadian Dollar!). 

BullRush’s trading competitions will be a far superior use of your time, and will allow you to level up your trading strategies and skills, while experiencing the thrill of beating the markets for fun or money, in a fun, competitive environment. You can use their competitions to trade, compete, and win – in more than one sense of the word! 

Good luck traders, and happy trading!