Laughter is the best Loss + Prep for Tuesday, May 2nd, 2023
Prep for Tuesday. Key tickers on watch: $NQ_F $ZB_F $ES_F $MDY $NVDA $STZ $TTWO $MELI $AI $V $OKE $CHRD $AJRD $SRE $NCLH $MSCI $ADP $JETS $CHKP $UPS $BMY $AMAT $ADI $SO
Have you ever found yourself taking trading losses too seriously? Do you sometimes struggle to move on from setbacks and mistakes, both in trading and in life? In tonight's post, we'll explore how the power of comedy and the ability to quickly move on can be valuable assets in both trading and life.
Live prep again starting around 6:15 US CST Live prep. During our session we walk through our prep zones for the day including $SPY, $QQQ, $VIX, $SVXY, $ES_F, $NQ_F, $RTY_F, $YM_F along with $CL_F and $GC_F.
As we’ve noted before we are building this from the ground up and our intention is to continuously add and improve. As always, we recommend doing your own research and consulting with a financial advisor before making any investment decisions, as nothing we say or suggest should be taken as a recommendation to buy, sell, or hedge any financial instruments (full disclosure here).
Laughter is the Best Loss: How Comedy and Moving On Can Improve Your Trading and Life
Introduction: Tonight, we want to talk about something that we all need in our lives: comedy. Whether it's through a good stand-up routine or a funny TV show, laughter is an essential part of our wellbeing. But did you know that comedy can also be helpful in trading and business? In this post, we'll explore how quickly moving on and finding humor in difficult situations can actually lead to better decision-making and a more positive mindset. So sit back, relax, and get ready for some laughs and insights.
Section 1: Trading
Trading can be a stressful and emotionally taxing activity. From dealing with losses to navigating market volatility, traders face a myriad of challenges that can take a toll on their well-being. However, one approach that can help traders navigate these challenges is the use of comedy and the ability to quickly move on from setbacks.
Here are five key points to consider:
Humor can diffuse tension and stress: In the midst of a stressful trading day, a well-timed joke or humorous observation can provide much-needed relief. Laughter releases endorphins and can help to reduce stress hormones, providing a calming effect in high-pressure situations.
Seeing the absurdity can help: Trading can be a highly irrational and unpredictable endeavor, and sometimes the only way to cope is to recognize the absurdity of the situation. Laughing at the ridiculousness of a market move or the irrational behavior of other traders can help to put things in perspective and reduce anxiety.
Comedy can foster creativity and adaptability: Humor can open up new ways of thinking and approaching problems. A playful attitude can encourage traders to take risks and think outside the box, which can lead to new trading ideas and strategies.
Moving on quickly can prevent negative emotions from spiraling: When trades go wrong or the market takes an unexpected turn, it can be easy to dwell on the negative emotions that arise. However, dwelling on negative emotions can lead to a downward spiral that can negatively impact decision-making. By quickly moving on from setbacks, traders can avoid getting stuck in a negative emotional state and make more rational decisions.
Maintaining a sense of humor can improve mental resilience: Trading is a long-term game, and setbacks are inevitable. By maintaining a sense of humor and the ability to quickly move on from setbacks, traders can develop mental resilience and bounce back more easily from losses and setbacks.
Overall, the use of comedy and the ability to quickly move on from setbacks can be valuable tools for traders to navigate the emotional ups and downs of the market.
Section 2: Business and life
In addition to trading, the concepts of comedy and quickly moving on can be applied to various aspects of life and business. Here are some key points to consider:
Communication: In the workplace, being able to effectively communicate with colleagues and clients is crucial. Sometimes, things may not go as planned and mistakes may happen. Being able to laugh at oneself and move on from any miscommunications can help maintain positive relationships and keep things running smoothly.
Problem-solving: In both personal and professional settings, problems can arise unexpectedly. Being able to quickly assess the situation, find a solution, and move on can be a valuable skill. Incorporating a lighthearted perspective and using humor as a way to diffuse tension can also make the problem-solving process less stressful.
Resilience: Life is full of ups and downs, and resilience is key to overcoming challenges. The ability to find humor in difficult situations can help build resilience and provide a sense of perspective. When things don't go as planned, the ability to quickly move on and focus on finding a solution can help build resilience as well.
Mental health: The benefits of laughter and humor on mental health are well documented. Laughter can reduce stress and anxiety, boost mood, and promote a sense of well-being. Incorporating humor into daily life can be a simple yet effective way to promote mental health and well-being.
Creativity: Creativity is an important aspect of both trading and life. Being able to approach problems and challenges from a new perspective can lead to innovative solutions. Incorporating humor and lightheartedness into the creative process can help generate new ideas and break through mental blocks.
Overall, the concepts of comedy and quickly moving on can be applied to many different aspects of life and business beyond just trading.
Section 3: Real-World Examples
make their audience laugh, often within the first few seconds of their performance. They have to be able to think quickly and adapt to the audience's mood. This skill is valuable for traders as they must be able to make quick decisions and adapt to changing market conditions.
Sports: In sports, athletes must have the ability to quickly move on from mistakes and focus on the next play or game. This is particularly true in individual sports such as tennis or golf, where one mistake can lead to a loss. Traders must also have the ability to move on quickly from losses and focus on the next opportunity.
Improv: Improv actors must think on their feet and come up with ideas quickly. They must be able to adapt to their fellow actors and the audience. Traders must also be able to think on their feet and adapt to changing market conditions.
Military: Military personnel are trained to quickly adapt to changing situations and make decisions under pressure. Traders must have a similar ability to make quick decisions under pressure and adapt to changing market conditions.
Entrepreneurship: Entrepreneurs must be able to quickly pivot their business strategies based on market conditions and customer feedback. Traders must also be able to pivot their trading strategies based on market conditions and other factors.
Overall, these real-world examples demonstrate how the ability to quickly move on and adapt to changing circumstances is valuable in both trading and life.
Actionable Tips:
Learn to laugh at yourself: Don't take yourself too seriously, and be willing to laugh at your own mistakes. This can help you stay grounded and keep a positive attitude.
Practice mindfulness: Being present and focused on the present moment can help you avoid getting caught up in negative emotions and thoughts. Mindfulness can also help you stay calm and centered during times of stress.
Take breaks: When things get overwhelming, take a break and step away from the situation. This can help you clear your mind and come back with a fresh perspective.
Surround yourself with positive people: Positive people can help lift you up when you're feeling down. Find people who share your sense of humor and can help you stay motivated and focused.
Find humor in everyday life: Look for the funny side of situations, even when things aren't going according to plan. Humor can help you stay resilient and maintain a positive outlook.
Learn to let go: Don't dwell on mistakes or setbacks. Instead, quickly acknowledge them, learn from them, and move on. This can help you stay focused on the present moment and avoid getting bogged down in negative emotions.
These tips can help you incorporate the use of comedy and quickly moving on in both trading and life, and can lead to a more positive and resilient mindset.
In conclusion, the art of comedy and quickly moving on can be a valuable asset in both trading and life. It helps us to stay positive, resilient, and focused on our goals, while also allowing us to enjoy the journey along the way. By using humor to defuse stressful situations and quickly moving on from setbacks, we can avoid getting stuck in negative emotions and maintain a clear head. In trading, this can help us to avoid emotional decision-making and stick to our strategies, while in life it can help us to cultivate healthy relationships and maintain a balanced perspective.
Ultimately, the ability to find humor in difficult situations and quickly move on from setbacks is a skill that can be developed and honed over time. It takes practice and a willingness to let go of our ego and expectations, but the benefits are well worth the effort. By incorporating the tips outlined in this post and cultivating a lighthearted approach to life and trading, we can create a more fulfilling and successful journey for ourselves.
So, remember to keep laughing, stay positive, and quickly move on from any setbacks that come your way. With this approach, you'll be well on your way to success in both trading and life.
Book Recommendations:
"Taming Your Gremlin" by Rick Carson - This book offers practical advice on how to overcome self-doubt and fear that can hold you back in trading and life. It helps you identify and manage your inner critic, or "gremlin," so you can stay focused on your goals and not get bogged down by negative thoughts.
We just finished this during our morning walks and can definitely attest while some parts are a bit much…it is a good book if you are finding times where you are struggling with that inner gremlin.
"Born Standing Up" by Steve Martin - This memoir by comedian Steve Martin provides insights into the world of stand-up comedy and how he developed his craft over time. The book is not directly related to trading, but it offers valuable lessons on persistence, creativity, and the importance of taking risks in pursuit of your goals.
Related to these book recommendations, we would suggest checking out an Audible 30 day trial on Amazon. Yes we know it may sound cheesy and yes we are an affiliate there, but having now used the past month+ on our evening walks it’s been a game changer. We’ve been using audible to listen to various books and it’s been really fruitful.
Prep / high interest zones:
Next are the key tickers and price zones broken into categories of Breadth, Overall, Meme, Forex / AG futures. Further below you can find the section for Expected moves (aka cheat codes) and the symmetrical extremes. If you need a summary/reminder of what these zones mean, see our earlier post.
High interest tickers & zones:
Breadth
$NQ_F [13498.00 - 13495.00], [13152.00 - 13140.75], [13498.00 - 13495.00], [13152.00 - 13140.75]
$ZB_F [130'25 - 130'17]
$ES_F [4234.50 - 4230.00], [4155.50 - 4149.50]
$MDY [452.90 - 452.36]
$NVDA [282.63 - 280.00]
Overall
$SGFY [30.54 - 30.42]
$STZ [233.93 - 233.52]
$TTWO [125.71 - 125.45]
$MELI [1271.12 - 1266.45]
$AI [18.17 - 17.90]
$V [282.63 - 280.00], [237.78 - 237.50]
$OKE [63.94 - 63.76]
$CHRD [137.37 - 136.89]
$AJRD [56.11 - 56.03]
$SRE [153.77 - 153.08]
$NCLH [15.48 - 15.28]
$MSCI [488.08 - 485.94]
$ADP [226.71 - 226.22]
$JETS [18.52 - 18.48]
$CHKP [118.59 - 118.14]
$UPS [187.48 - 187.13]
$BMY [70.00 - 69.80]
$AMAT [112.04 - 111.85]
$ADI [184.86 - 184.79]
$SO [74.65 - 74.49]
FOREX Futes
None for tomorrow
AG Futes
None for tomorrow
Meme
None for tomorrow
Expected move levels
Our post behind the expected move
Symmetrical extreme readings
In this previous article we discussed the Symmetrical extremes in more detail.
That’s all for tonight folks…just a reminder, our goal is to constantly improve and refine our proprietary AI system + this content. These tools analyze hundreds of tickers to identify high-interest areas based on multiple areas of confluence evidence. As always, we recommend doing your own research and consulting with a financial advisor before making any investment decisions, as nothing we say or suggest should be taken as a recommendation to buy, sell, or hedge any financial instruments (please read our disclaimer ).
Tools / Affiliates / etc.
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We are an affiliate with TastyWorks.
Tools used/shown:
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