Date: 4/19/2022
Author: Chris Hood
Be sure to check out new episodes of my video podcast each week, where my ace pupil Brian Jones and I talk the ins and outs of options trading- and give you insights and strategy that you can immediately put to work for you in the markets.
I’m bullish on the market.
I know that sounds insane to some who believe the whole thing will crumble.
After all, inflation is as high as it’s been in 40-years. There’s a war on in Europe, interest rates are rising, a new COVID variant appears to have popped up, and now all the chickens are sick.
Yet despite this, the market technicals are sound.
Remember that the news is meant to scare, provoke, and entertain you.
I’m not sure just how far down on the list informing the public has fallen these days, but it’s a safe bet that as soon as one crisis fades, another will appear.
That’s how they keep you watching.
…having you glued to your television or monitor is how they make money.
When it comes to trading, all this is simply distracting noise.
Clarity comes by understanding the charts – that’s why I never trade on fundamentals and geopolitical theories.
You cannot impose your will on the market.
However, this doesn’t stop financial pundits and traders from attempting to do so.
Bold predictions based on complicated economic theories and current events all have one thing in common – they tend not to age well.
That’s why I don’t do it anymore.
The only thing that is certain about the market is it’s uncertainty.
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Many years ago – long before I had so much grey hair – I left South Africa to find a banking job in Taiwan.
According to my contacts, they were plentiful, and I wanted to level up my career.
However, it turned out to be harder to get my foot in the door than I expected. I had to support myself by odd jobs and did a lot of kickboxing training in Thailand.
I often spoke with the many Buddhist monks who wandered the streets in colorful robes and sat for hours in meditation.
I was a bit of a control freak in those years and couldn’t wrap my head around their lifestyle.
One quote that stuck with me however was from the Buddha himself.
“Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.”
It was fascinating, but I never fully understood it until several years into my trading career.
Though my glimpse of enlightenment didn’t come through meditation, it was no less profound.
It completely changed my life.
I stopped worrying about what the market SHOULD do and instead focused on what it WAS doing.
Fretting over losses and lusting after potential only led to pain, suffering, and anxiety. The only thing that mattered was how the trade was performing at the time.
Regret and hope were roads to failure.
The moment I let go…the instant I discarded certainty, I started winning. It freed my mind to simply respond to the present.
I suppose I wasn’t ready for that wisdom in my late 20s.
The monk who told me that quote knew something vital about life.
He’d meditated in perfect stillness throughout the duration of a terrifying thunderstorm and spoke to me in rain-soaked clothes.
On his face was a perfectly peaceful smile.
I doubt I’ll ever see him again, but I owe him a great debt.
Cheers,
Chris Hood
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