The draining impact of the pantomime villain

So, Usain Bolt – greatest sprinter the world has seen – ended his career with an underwhelming bronze medal in the 100m last Friday.

It wasn’t supposed to happen like this. Where was the fairy tale final 1st place finish?

Instead of Usain and his beaming grin, it was a twice-convicted American drug cheat who took Gold.

The pantomime villain stole the show.

And the crowd inside the London Stadium let him know it too! Boos rang out all around, and they had to hastily reschedule the following day’s medal presentation to brush any bad publicity under the carpet. They made sure the crowd reaction didn’t make the live TV feed.

But, sometimes life is like that…

People you think don’t deserve glory find it. Events that seemed impossible do happen. Financial markets that were heading for the starts one minute, crash and burn the next. Crashing and burning the life savings of all-in investors in the process.

It’s why a simple 2-part philosophy can help you thrive in life and the markets:

1) Look after your downside first. Never put all your eggs in one basket. Spread your risk around. That way, one freak event can’t wipe you out and you’ll always live to fight another day.

2) Learn to think in probabilities. There are no certainties in life, events and circumstances simply fall on a scale of 1-100 in terms of probability. But if you consistently look for ways to take advantage of high probability situations – placing yourself in the path of good fortune and avoiding the glaring potholes – you’ll find yourself becoming luckier and luckier.

Sounds simple, right? But you’d be surprised how many people do the exact OPPOSITE, especially when it comes to trading.

Frustrating. Because it’s so easy to do things right to begin with.

But only when you know what to do and when to do it, of course!

I’ve been showing traders exactly how to look after their downside and find high-probability trades in my Breakthrough Academy training. I only open the doors once or twice a year. But… that time is almost upon us again.

If you keep an eye out for my emails in coming days I’ll tell you more.

Shares