Sunday, June 22, 2008

Baseball, Trading and Life

On Friday night my son played in the championship game of the local Babe Ruth baseball league. The League consisted of 8 teams form two neighboring communities. Of the teams two were form my town and the other six from the neighboring community. Although we finished in sixth place we played well in the playoffs and made it to the final game against the number one seed, the other team from my town. This made for alot of good natured trash talking at school all week. All of these kids have played on the same team at one time or another over the years, and to have a championship game played against each other should be enjoyable.

Unfortunately the game was never really close. We jumped out early and the other team never mounted a significant attack. After four innings we were up 10-0 and eventually won the game 10-3. During the game I realized that the other coach had little interest in winning the game. He didn't pitch anyone of significance, played kids totally out of position and showed a general lack of interest in the game.

Now this did not take away from the effort of the kids. Both teams played hard and I doubt that anyone saw it the way I did (I know my son didn't). I think this is an important lesson for life. You need to put yourself in a position to be successful. Whether that is in a baseball game, in business or in Trading. Everyone is not good at everything. Knowing your strengths and weaknesses is essential to being successful. The things you are not good at, find someone who is and partner up to accomplish your goals.

When Trading I think it is very important to be prepared. Sit up in your chair, and have a plan in place. What are you going to do if the market goes up ? What about if it goes down ? Are you going to cut your position ? Add to it ? How about flipping it ? All possibilities, and without a credible plan in place your trading career will be short in duration. Now of course this is easier said then done and over the years I have had my ups and downs when it comes to implementing plans. But I think that the only way to be really successful is to put a plan in place and let the chips fall where they may. If it is not working, adjust (again part of the plan), but always working toward your goal.

Back to the game Friday night, although the game might not have meant a lot to the other coach, it surely did to the kids (this just judging from the amount of their spectator classmates at the game). It is the coaches responsibility to put the kids in a position to be successful. If it works out great, if not that is OK too, but the most important thing is that you gave them a chance to win. On Friday night I felt the other coach let his team down.

Labels: ,


Post a Comment

Subscribe to Post Comments [Atom]

<< Home