What the FED are you building?

 A little over a week ago I wrote a post about tenacity with an article that talked about having the ‘Grit’ to really see something through to its conclusion…well…at least to seeing its success (is anything really concluded?!).    Here’s a link to that posting, if you’re interested.

But it got me to thinking about what happens when we really do commit to something and how it’s often not enough to say, “I’m going to see this through.” 

We want to see it through.  We recognize all there is to be gained from seeing something through.  We may even have a game-plan for seeing it through.  But what we don’t recognize is that even each of those steps has smaller actions that take us to the next one.

It is not enough to say, “I want to trade for a living.”  And even the most newest of newbies is going to know there is a learning curve.  They’re going to buy books, subscribe to an alert service, attend webinars and seminars and trading groups and they may even backtest a little bit.   Each of those things does constitute a ‘step’ in the process, but what people don’t realize is that each one of these things is a tiny little movement that merely takes you to the next ‘step’ in the process.

IF someone has the wherewithal to recognize that they’re really asking themselves to be an entrepeneur and start their own trading business their actions be more comprehensive and begin with a list.  On that list might be:
1.  Learn how to trade
2.  Learn the tax ramifications of trading for a living
3.  Learn the legal ramifications of trading for a living
4.  Etc.

You all have been doing this for awhile so, already, you’re recognizing that it isn’t that easy.  Step 1 by itself is daunting and anything past step 1 is pointless unless you get good at step 1 in the first place.

But what is really involved in Step 1 in the first place?  Is it all of those external things like webinars and books?  Or is it one particular class or teacher or system?  Is it really something that can be broken down and analyzed in the first place?

What spoke to me the most about this idea of grit or tenacity is that, very often, we don’t even know the road map for what we’re embarking on when we trade currencies.  That is part of the reason why it is so easy to be stressed out by others’ opinions of what we’re doing and buy into their fears and anxieties.  Or worse, get consumed by our own!

We’re talking about taking on something that is new to most and to the people who do trade for a living are constantly learning, growing and changing what they do…so how on earth can you ever know when you’ve ‘seen it through’?!

What I want to encourage you to do is recognize that within every step you take to become better at trading you’ve already taken many smaller steps to get to the point where you are today. 

Life in general, and trading specifically, is built, slowly and surely.  One thin layer at a time you have brought yourself to this point in your trading career and in your life.  You may not like where you’re at in your trading.  That’s fine.  You now get to ask yourself, “what’s the next layer going to be then?”  You may like where you’re at in your trading.  Great, but you still have to ask yourself, “What’s the next layer going to be then?”

THAT is tenacity.  Constantly asking yourself, “What’s the next layer”  and consider this…whether you make a conscious choice about that next layer or not, you’re still building… the question is just, “What the FED are you building?!?!”

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