Stocks & Commodities V. 31:1 (81-82): Are You Lost? by Mike Lauderdale

Are You Lost? by Mike Lauderdale

Ask yourself these 10 thought-provoking questions to rediscover the right trading path.

Trading can be so isolating and detail-oriented that we can get lost. We can be so focused on the practical details of trading that we forget both where we have been and where we want to go. Sometimes, the most expedient thing we can do is look at the big picture. It is important to stay pointed in the right direction to achieve our goals in trading and in life.

These 10 thought-provoking questions can help you rediscover the right path. If you have difficulty answering any of these questions, you might want to discuss them with someone who knows you well and cares about you. You might also consider returning the favor. This is not only a great self-awareness tool, but it also can help in developing better understanding of others and building more meaningful relationships.

1. What is currently your biggest investment of time and emotional energy? In trading? In life? Is this where you want your focus to be?

All of us can be distracted by the urgent at the expense of the important. Concentrate on what matters most. Becoming aware of what is important can help you refocus on the achievement of life-defining goals.

One client found himself focused on his trading and at the same time frustrated with his marriage and the lack of support he felt from his wife. When we talked through this issue, he realized one of his great motivations for trading was to better provide for his wife. I suggested some tools he could use to better communicate with his wife and understand what was in her heart. His wife responded by wanting to support her husband. As his focus turned to the priority of his marriage, mutual empathy and support progressed immediately. As a result, his life perspective and trading results improved immensely.