Sitting In The Bangkok Emergency Room
My big toe hurts. Badly.
And it it swollen and infected.
And twists off to the right at a weird angle.
I’m sitting in a hard chair under the florescent bulbs in the Police General Hospital in Bangkok.
I normally run my life in 6th gear…going downhill…with no brakes.
But, here, I have to sit and wait. So I am waiting.
This gives me an opportunity to relax and ponder.
I’m watching the doctors and nurses as they rush about doing their job. And I’m watching them as they work on my big toe.
The thing that I notice is that everything is in a particular order. They have checklists. Sometimes on paper and sometimes in their mind. But they go about their business in a particular way every single time.
Every person who comes into the emergency ward goes through a set procedure. I’m sure there are exceptions like for a gunshot wound but fortunately nobody is in the Bangkok emergency room for a gun shot wound.
I think it’s mainly old people with some type of a problem. I might be the youngest person here. Ha ha.
But as they go through and look at my toe they go through a procedure. They ask me questions. They wanted to know if I was diabetic which I am. They test my blood sugar it’s in an OK range
They take me into the room to have my toe X rayed. At first, they didn't think my big toe was broken, even though it pokes off in a new and unique direction. But now they have the X ray, they can see that it's broken and the toe next to it was broken many years ago.
now they know what to do. They prescribe an antibiotic because my toe is infected.
We talked about how to treat the broken toe. But there's really nothing that can be done with a broken toe. When I broke toes in the past, I would just tape them to the toe next to you so the other toe acted like a splint. But the big toe, is I guess, different. So they want to put me in an air cast. And I look at them like they are crazy. People. It's just a broken toe. I'm not gonna stagger around with that stupid cast. And it won't do anything to solve the broken toe. Yes, it will protect the toe, but it won't make it heal faster or better. So instead, I buy a pair of sandals to give the toe so room.
So what does this have to do with trading?
We want to do exactly the same thing that the doctors do when we try We want to have a process that we go through each time before we put on a trade. We want to have checklists that we go through in order to know that we're doing the right thing.
For example, what is the trend of this market? Well, once we know the trend, that tells us a lot about what strategies we should be putting in place.
Next question. How strong is the trend? Is it weak or strong? That also affects the strategy we're going to use.
If you're a fundamentalist, how much is this particular market under or overvalued? That will tell us how much money we could potentially make in this particular trade.
The point is we go through a process that is a proven process to making money in the mind. We don't want to be doing things on the fly of the moment.
One of the things that I often see in traders, even traders who have been trading for a couple of years, is that they're scattered all over the place. They often jump from technique to technique. They use their subjective opinion, rather than a proven process.
They have no consistent effort. They have no persistent effort. They wander around, they flop around and they wonder why they don't make money.
It's actually better to start out having a mediocre but profitable technique and consistently and persistently execute that.
The main reason is that then you get into the habit of being disciplined and structured, just like the doctors on my big toe.
At the same time, you'll also get into the habit of making money. I know that sounds weird, but most people lack confidence that they're going to make money. And so they achieve that goal of not making money.
Instead, we want to make a habit of making money so that it's obvious that every time we do a trade, we expect to make money. That positive attitude helps us as we consistently pound on the market for more profits.
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