The meaning of life (for traders)
What is the meaning of life?
The origins of this often times rhetorical question are unknown. I believe that humans have been grappling with this conundrum for centuries or more. Why are we so obsessed with uncovering “the meaning of life”?
Perhaps it is what differentiates our species? Maybe it is the source of true happiness? Although, it could be altogether meaningless.
Some believe that the meaning of life is subjective, and each individual must find their own purpose or meaning. To me, this is a little open-ended. Regardless of whether you believe this is a subjective issue or an objective construct, its a question many of us have pondered a lot.
What if the meaning of life is one word? It is something that ensures life has meaning and substance regardless of your circumstances. In fact, most of us are born for it.
Responsibility.
By adding more responsibility to your life, you’ll add more meaning. If you faced all that you needed to face, who would you be? How would your life look if you took ownership of your circumstance? How would the world transform around you?
Responsibility is defined as the state or quality of being accountable for one's actions, decisions, and obligations.
It involves recognizing and accepting the consequences of one's choices and behaviors, as well as fulfilling duties or commitments that one has undertaken.
Responsibility can manifest in various aspects of life, including personal, social, professional, and moral domains. Some key elements of responsibility include:
Accountability: Taking ownership of one's actions, both positive and negative, and being willing to answer for them.
Reliability: Demonstrating consistency and dependability in fulfilling commitments and obligations.
Integrity: Acting in accordance with ethical principles and moral values, even when faced with challenges or temptations.
Duty: Recognizing and fulfilling obligations, whether they are legal, moral, or social in nature.
Consideration for others: Being mindful of the impact of one's actions on others and taking responsibility for their well-being and interests.
Responsibility is essential for maintaining trust, building relationships, and contributing positively to society. It requires individuals to be conscientious, accountable, and reliable in their actions, fostering a sense of integrity and trustworthiness.
Our desire for responsibility is undeniable. However, society has slowly been taking our responsibility from us. When was the last time you were responsible for your own survival? Besides having to earn a living, we have the conveniences of a modern existence. But take responsibility away from a person and life becomes less meaningful.
Think of that elderly cat lady in your complex. Her husband passed away, her kids are working overseas. Much of her life was fulfilled by her sense of responsibility to her kids, her spouse, her career and more. Now that they are gone, there is a significant emptiness. In many ways, her cat now fulfills this role, bringing back a little responsibility to her existence and as such some happiness.
Take ownership of your trading. Then take responsibility for where you are right now.
Its not the markets fault, or your broker, or the FED. External factors may play a small role in how successful you are as a trader, but ultimately it's up to you.
As the floor traders used to tell me- "Plan your trade, then trade your plan"
Your plan, not somebody else's plan. Take responsibility for your trading success.
Trade well,
Justin
