Over the last six weeks, life has changed drastically, and in many ways, I doubt things will ever go back to ‘normal’ — and if they do, it’ll be the new normal.
It’s crazy to think that a mere six weeks ago, I was in New York City speaking at what would likely be the last conference I’ll go to this year. Of course, I didn’t know that at the time.
I didn’t know I was at the epicenter of a pandemic. That became obvious a few days after heading out of town.
I didn’t know it going to happy hour at the Whiskey Bar with friends.
My friend and content manager, Sarah, my friend Mandy, our VP of Content, and friend Todd Gordon from CNBC & www.tradinganalysis.com.
I didn’t know it would be the last time being on set at Fox Business in the studio for months.
I didn’t know all of my friends and colleagues in New York City, my favorite city in the country, would be under siege.
I never suspected in my wildest dreams that I’d be homeschooling my six year old during a market crash.
It’s not just life that has changed…
And, trading. Oh, how trading has changed. In a span of a week, I went from teaching traders how to buy breakout moves on tickers with high short interest, like TSLA and SPCE, to teaching traders how to day trade futures in a bear market.
I finished up live trading for the Pro version of my Momentum Crash Course class, and I’m looking forward to the Elite version with John, next week! I’m so happy so many of you were able to join me along this crazy ride.
The changes aren’t just about daily activities though, or trading. It’s also about strength, resolve, and intestinal fortitude…
The changes — and the market, have tested my resolve, my definition of normal and heightened my stress response that could be charted like the VIX.
Being long a couple S&P futures contracts 10 minutes before the close when your kid starts screaming he fell out of a tree in the backyard will make anyone’s blood boil! Me: “Leo, Why were you in the tree? Are you bleeding? Did you break a leg? You can walk, so you must be fine. I have 1,000 people listening to me live right now and I have to focus on the $TICKS, I’m sorry you fell out of the tree but I’m trying to TRADE THE CLOSE!”
But, then I remind myself of one of my favorite things that my friend Henry Gambell likes to remind me of when things in the market get crazy…
“Well — if you want to work for a specific amount of money every day, that is what hourly jobs are for. You can go work construction or (insert whatever hourly wage field here). We’re traders. We have to cherish the good days, along with the bad days. If every day was easy, what fun would that be? And, if trading was easy, everyone would do it!” – HG
We’re both huge fans of Elon Musk — Tesla and SpaceX alike. And, I think this quote is particularly fitting after the last 7 weeks trading this market…
This market has been a rollercoaster with different challenges every day.
While I don’t know how the market will open up tomorrow, or when the President is going to open the country, or if COVID-19 will make a fall resurgence, but I do know that the past 7 weeks have been ripe with change and challenge and a lot of character building moments. Hopefully I can teach Leo how to climb trees without falling out. Or, to stay out of them while I’m live in the trading room.
So, what am I doing?
I’m holding the ‘lasts’ in my memory, making changes in the present, and looking forward to the future, knowing that whatever it’ll bring, I’m not going to give up unless I’m forced to. And that day isn’t coming anytime soon.
Just remember, during these times — our goal is to identify key moments in time, where you actually have an edge, but, more than anything, live to trade another day.