Earlier today, I tried something,
and it didn't work at all.
Earlier I did something...
Yeah...
It was odd.
Kind of...Was it
embarrassing?
Not necessarily embarrassing,
but
it was definitely weird.
Let me tell you what happened.
I will also tell you what to learn from it.
All right. So,
what did I title it?
I titled it...
How...
How to learn from mistakes
and move on.
So, here's what happened.
Earlier today,
I wanted to do a great
Facebook live
and also YouTube Live
of showing everybody
my trading routine,
and I planned it out this morning,
right? So, I had this grand plan.
I sent an e-mail out to everybody,
and I thought: you know what?
This would be really cool if I
could broadcast it not only
to Facebook,
but also to YouTube as well
because some of you prefer watching
it on Facebook. Some of you,
on YouTube.
So, this morning I did my research,
right, and tried to figure out how
to do this.
Found a software that allows me to
do this and I thought
I remembered a friend of mine
told me about this software.
Well,
should've checked my facts because I don't
think that he ever did.
So, long story short,
I was all prepared.
I was ready to go live.
So, I pushed the button.
I go live simultaneously
on YouTube and on Facebook,
and start talking,
and everything at first seems to
go well. However,
it turns out that the minute I shared
my charts,
it sounded like I was in a bar
because here's what happened.
Somehow,
there was a feedback
or an echo, so,
one device picked up from another
or YouTube picked up from Facebook...
Doesn't matter.
It was a mess.
Now, here is where it got
really worse.
I could not see the comments
and all of you were fantastic
and said, "Hey, we have a problem
with the sound, and they typed in all
the comments
and I didn't see them.
There's three lessons in
this which relates to trading
because ultimately,
you're probably here because you want to learn how to
trade, but every now
and then, life teaches us a lesson
that we can use in trading.
So, first thing that I've learned
here. First out of three,
don't give up.
I mean, yes,
this was awkward.
I know that I probably might
have annoyed some of you because I didn't respond
to your comments. This was definitely
kind of awkward that this happened,
and I think the worst thing for
me to do right now is give up,
but this is what I see some people do.
I mean, they try something
and if it doesn't work right away,
they give up. This is a lesson that I've learned
in life. Trust me on this one.
I had many failures in life.
I'm turning 50 this year.
Fortunately, end of this year in November.
But yeah, I've had my fair share of
mistakes. The important thing is don't give up.
Keep pursuing your dreams
or whatever you plan to do.
Second thing that I've learned is
test, test,
test.
So, this morning,
I did a quick test here
and it seemed everything worked fine,
but I must honestly say,
I shortcut the test.
I did not do it
with my team as I should have.
This brings me back to trading.
When I meet traders at our live
events, sometimes they tell me,
"You know what?
Whatever I do here,
it doesn't work." And I said,
"How long have you tested the idea?"
"Oh, you know what I looked at it for a day,
and now I'm ready to trade
it live..." So,
it doesn't matter what you do in life.
It definitely helps to first thoroughly
test it.
Don't overdo it, but this morning,
definitely,
the test that I did was way
too short.
Same in trading.
I always recommend that you practice
any trading strategy that you might hear
on at least 40 trades
because then you get some ideas of
how it works. You make
some mistakes during these 40 trades,
but you learn from these mistakes.
The third thing that I learned from
this lesson is let's do it again!
If at first you don't succeed,
do it again, right?
I mean, learn from your mistakes,
and don't give up,
and this something that I also see.
Sometimes with traders,
they place a trade.
It doesn't work out.
The first trade is a losing trade.
They're giving up or maybe they trade for
a week or two weeks,
maybe even for a month.
You see trading is a marathon,
not a sprint.
And so, this is what I learned from it.
Think about it.
If we would give up as soon as
we experience an obstacle...
My gosh, we would never
ever walk.
I mean, kids...
How often do they fall down
before they can walk?
How often do they fall
off a bike before you can ride the bicycle?
As we get older,
it seems that we get more impatient.
And if something doesn't work right away,
we give up. So,
I think sometimes it helps us to
think like a kid,
right? When you want to do
something. Whether it is swimming,
or riding a bicycle,
or running, or you might have played
any sports.
I mean, whatever you did,
you weren't great at first,
but you tried.
You practiced.
You didn't give up
and eventually you got better.
Isn't that the truth?
Does this resonate
with you?
Leave a comment and let me know if
it does. I hope that this helps.
So, here's three quick lessons
that I learned from my mistakes.
Number one: don't give up
after it doesn't work for the first
time. Number two: be prepared
and test, test,
test. Whatever you do in life.
And here,
obviously, I shortcut the testing
and it bit
me in the [BEEP] Anyhow.
Okay...
And number three: if it didn't work the
first time, do it again,
right?
I mean, start over.
Move on.
Shake it off.
And this is why I decided to come
back live here to you an hour after
this.
I don't want to say disaster,
but this weirdness
happened. Have a terrific evening
and I will talk to you very soon.
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