What does having a marathon mindset mean to you? Well, like this image I chose above, it means seeing the light at the end of the tunnel. Many traders I speak with and read about on Twitter are overly excited to begin their journey. They wake up and post about their enthusiasm to study, the joy the markets bring as they watch Timothy Sykes patterns play out in real-life, and how they are learning so much from the 30-Day Bootcamp!
All of this is wonderful to hear, but where does having a marathon mindset come in?
Having a Marathon Mindset
Are you prepared to study the REST of your life? Does being an eternal student of the market sound enticing to you? How many YEARS do you plan on watching the screen turn red and green? These are a few ideas that are involved with having a marathon mindset that will put you ahead of the game.
What This Means to Me
Having a marathon mindset means that I will not rush my education because I KNOW that my knowledge will have no limit or cap. From the very beginning Tim Sykes talks about this being a never ending journey that will last a lifetime – hence he created the Life Time Challenge in which I am a part of. By committing the rest of my life to Tim’s education and Tim committing the rest of his life to his students, the pressure of jamming as much information into my head in just a year is no longer a constraint. The pressure is off – but the dedication is on!
Tim Sykes practices what he preaches and he preaches that mindset is everything! That counter intuitive lessons are the lessons that turn the 90% of traders that lose into the 10% of traders that actually win consistently. After all, 90% of traders lose because they are in a rush to “get rich quick” instead of taking their time to learn the rules of the market and take it one trade at a time over time.
Jack Kellogg wrote a short story on Profit.ly today about his journey over the years. His ups and downs and how it took one person to push him to do his best and that it takes time. Jack went on to reach nearly one million so far in trading profits. This milestone has taken him several years to accomplish. He has the marathon mindset! This guy puts in the time, the effort, the dedication, and the attitude that this niche requires to be different than the majority that lose/quit/give up because they had the wrong mentality.
How to Develop a Marathon Mindset
One step to developing a marathon mindset is recognizing that this is indeed a marathon and not a sprint. This is a saying you will constantly hear Tim Sykes repeat in his lessons. Think of it like this, you are x-amount of years old; I am 24 for example, if I study several hours every day then in 10 years from now, I should be reaching a million dollars or more in trading profits. I believe I began this journey when I was 23 (I’m old and already lose track of age LOL) and a year after studying I now know 100% more than a knew a year ago.
Thinking of how I knew absolutely nothing a year ago to pacing myself with a 10 year plan and what I want to accomplish within those 10 years has really put this into perspective for me. I would be happy if I learned the vocabulary of the market within 5 years. This gave me a pace in which I could learn what a First Green Day is, or what a red candle was, or what it meant to sell short a stock. All of these terms I know with confidence. To me, I didn’t know that I would be so well informed within a singles year. WOW! already I am ahead of my plan. My brain thought it would take 5 years for me to learn these simple terms.
Okay, So now I know the vocabulary…
Creating a Plan
Tim Sykes doesn’t necessarily like it when students give themselves goals in case they don’t reach the or it puts an added pressure where some people collapse and break down, but I usually hear him refer to profit targets so learning goals may be different since he says anyone can learn this within a few years… For me, I give myself enough time that seems rational yet feels like forever from now. With my obsessive personality to strive for my dreams, 5 years is far enough away that I can accomplish enough and it still sounds reasonable.
How did I create my plan and how can you create yours?
Schedule, is a HUGE problem many traders talk to me about. They constantly wonder how I fit so much in with only 24 hours in a single day. For me, hard work comes naturally.. Perhaps it’s my sports back ground, maybe it’s through my historical bloodline of presidents and innovative grandparents, could even be that drive of watching my mom work so hard to create a dream life for us. Regardless of my countless inspirational figures, I know what I want and I have always made it happen.
So this still leaves 24 hours in a single day that we all have to manage. To hear me talk about this watch The Steady Trade Podcast where I spoke to Kim Ann Curtin about managing my morning routine while having a young child. Listen in-depth how I fit everything in to a 24-hour day!
It’s All About Mindset
We All Have 24 Hours
Some 24 hours days feel different than other 24 hour days and this is especially so when watching what other people are doing. Many are so fixed on the work and progress of others that they forget about themselves. This means envying what others do without appreciating what YOU are doing. This is not a good mindset to be in.
I could wish all day that I could do more, like Tim Sykes for example. He travels everywhere, teaches, blogs, runs a charity, works with models, meets with billionaires, and SO much more! How does he do it?! Does he ever sleep?! Well, it is hard, but it’s not impossible. As a matter of fact, I do a lot of what he does every single day as well but in different ways.
How? Well, you appreciate your time. You put value to the activities that you involve yourself with and that includes thinking. Don’t waste time on negative thoughts of envy or what others are doing. Instead use them as motivation. If they can do it, so can I!
Learning to Adapt!
You learn to adapt. You begin to prioritize certain things over others and you become innovative and creative. So you may not be good at multitasking, but you can’t talk and walk at the same time or breath and move your arms. Obviously you are multitasking. It has taken practice but you have been practicing for years.
Same goes with trading. Yes, you may not be able to focus every second in front of your laptop, but you don’t need to! Sure, I post pictures of myself and my kid constantly in front of the screen, but that is not what happens a majority of my time. I can’t physically take pictures of my studying from my cell phone as I am driving my car or going on a walk or hike. I don’t have wifi on the go but I have my cell phone. My days have less music involved and more video lessons and same with my art and music – all substituted for video lessons. When I cook my cell phone is going or my laptop.
You don’t have to just watch and listen to video lessons though, write about what you are learning or want to learn. Read books, blogs, tweets, study charts, Join the Trading Challenge and watch the Dvds, etc. There are SO many ways to involve your time with trading. Draw pictures of the patterns you are learning, think about trading, this all goes into that 24 hours we spend dedicated to the market.
Don’t Envy Others
Everything is Different
Everyone has access to everything but not everything is meant to be accessed the same. Your journey is different than mine even if we are using the same tools and are taught the same lessons. Having a marathon mindset means something to us all but is felt by us all differently. Can you slow down your mind enough to be in the moment or are you constantly giving yourself that rushed panic feeling? How well can you balance yourself? There is no such thing as work/life balance when your passion is your obsession. You will find any way you possibly can to make your passion your entire life and the rest adapts around it.
My passion and obsession is my family and trading. They connect. I can’t appreciate my family without appreciating that the market is another member of my family that requires just as much time. I am currently writing this blog at the dinner table instead of eating dinner with my family. This blog is my priority for this moment or else I will have to substitute other time to get this done. Thankfully my grandma made dinner, my papa ate with my kid, and I am interacting with them while writing this thing. There is no time that I specifically have set aside without any kind of interruption. There is NO balance!
Here is a picture of the craziness. My kid is on the table and my grandparents are trying not to laugh as he makes faces while my granna is telling him he is not supposed to be on the table. I am laughing as Little Nova is lying in my lap while I write. My kid keeps making faces at my grandparents and they are trying not to laugh. It’s hilarious and this photo looks so serious! haha.
Having a Marathon Mindset
What it Means to Me
Having a marathon mindset means I am married to the market like I am married to life. Until death do us part. My mindset and my heart were true and honest when I gave my dedication to Tim’s life time challenge. This means always working towards forever just like in a marriage and any other kind of relationship. To me, I would rather spend my life doing this than putting everything on hold to go out or have friends. Actually, the friends that do support my trading journey I neglect and post pone because they aren’t here studying with me or wanting to. My priorities are my immediate family and the market. Anything else is not on my radar. My passion and dedication is all right here.
What does a marathon mindset mean to you?