Hey 5-Star Trader,
Thanksgiving is one of my favorite holidays. The smell of turkey in the oven, the anticipation of some sweet potato casserole, and time spent with family, which to me is the most important aspect of the day. I have always spent Thanksgiving as my dad’s sidekick, with the primary responsibilities left to him. He taught me how to make his special sweet potato casserole that I request every year on my birthday. He taught me how to make the mixture for my favorite stuffed mushrooms, and mix up homemade egg noodles that will be slathered in gravy.
One of my favorite traditions my dad started was not just the Thanksgiving dinner meal, but focusing the entire day around the holiday feast. He always started it at breakfast with his famous cream cheese, stuffed French toast, scrambled eggs, and bacon. After that, we have appetizers throughout the day with smoked salmon and crackers, some prawns and crab, and a cheese ball filled with some amazing goodness. Whenever I host now, I love doing the all-day Thanksgiving extravaganza and I will always attribute that to the traditions my parents set forth that I will remember fondly until the end of time.
After my many years of loving Thanksgiving, and training for it, last year my husband and I decided to take a stab at hosting Thanksgiving. After all of this time spent watching and assisting, I thought I was prepared, but I ended up catching the turkey on fire not once, but twice. Apparently, when you put a much too heavy turkey slathered in butter in a gas oven, it’s a recipe for disaster. Now that was something my dad never did!
Going into my second year hosting Thanksgiving, I can only hope I’ve learned from my mistakes. I took steps, like buying a smaller turkey and considering using a roaster instead of a gas oven. Also, there will probably be less butter! But, ultimately, I can’t say for sure if I can make it through the day without any smoke!
In some respects this entire experience reminds me of trading. Sometimes, despite the prep and knowledge involved, something comes out of left field that throws you out of whack — like a tweet from Elon Musk when you’re very long Tesla and the trade goes up in smoke like that turkey.
So, what is a trader and a Thanksgiving host to do?
Study. Prepare. Learn from mentors, and from your past mistakes. Analyze what worked, and what didn’t. Understand that sometimes, in the great words of Mark Douglas, “Anything can happen” — but that doesn’t mean you can’t prepare. Anytime the market is closed, like it will be on Thanksgiving and closed for a half-day on Friday, it always gives me more time and space to reflect, recharge, and focus on looking forward to what is next.
And of course, go shopping. Because what else is Black Friday for?!
I’m thankful for all of you, and thankful for this journey that has brought me to this point.
I wanted to wish all of you who celebrate, a very happy Thanksgiving, filled with lots of love and relaxation. For all of our traders outside of the U.S., I hope you enjoy the stock market holiday and get to spend the day doing something you enjoy. Wish me luck on the turkey!
If you want to do some black Friday shopping as well, check out our store! We are offering 30% off select courses and indicators. Just use “TURKEY” at checkout!