Heavyweight Bout: "You vs. The Market… Take Notes!"

Part 12 in the "Mental Fitness for Futures Traders" Series
by Norman Hallett, former CTA/Trader

Michael Buffer swings the microphone up to his mouth and spurts, "In the blue corner, from Cleveland, Ohio, standing 5 feet 11 inches tall, weighing 215 pounds… the challenger… "Tryon 'The-Best' Ican"!"

Buffer continues, "And in the red corner, with a record of 90 wins, all by knockout, with only 10 losses, and heavyweight champion of the world…"Marcus 'All-Ways' Wright!"

Now see yourself as Tryon.. cause that's what you're doing, tryin', and of course, the Market is Marcus, because the market's always right.

Now you have a shot to win. Not a great shot. But A shot. A hundred fighters have faced Marcus and 90% of them have lost. But 10 have won. What did they do?

I didn't see all the fights, but I know I'm accurate when I say that 9 out of 10 of the fighters that beat "All-Ways" Wright, kept a journal between rounds so that they could improve after every round.

They all knew Wright was tough, so they had to make sure of two things. They had to make sure they didn't get knocked in the early rounds, and they had to learn from all their mistakes.

Keep a journal between rounds?! They had to! They were getting beaten up so badly each round, they had to make sure they made notes so they didn't forget what they had learned about "All-Ways" weaknesses. They also had to inspect their own vulnerabilities.

They all knew they had to be brutally honest with their assessments of themselves. Kidding yourself meant a right hand across the chin from the champ. You had to correct what was wrong with your style every round so that you could adjust move forward.

The few that beat Wright had another thing in common. They didn't lie to themselves about their performance, because by taking their self-assessment seriously, they could stay alive early and then get aggressive in the later rounds.

So, it was back to the corner for every Ican, to honestly self-assess, adjust, and perform better the next round because of what each was taught by reviewing the journal notes from the previous rounds, while adding that round's blow-by-blow.

Now back to the fight.

It's the 5th round and "The Best" Ican is bloodied and is starting to look tired. The Champ has won every round but the second and hasn't got a mark on his face. A pawing jab by "The Best". The Champ takes advantage with a big chopping right hand!"

And "The Best" is DOWN!

And Out.

Dr. Ferdy Pacheco, jumps into the ring to see if the quivering Challenger is OK. Flashlight in the eye. Doesn't look like a concussion.

Ferdy asks, "How many fingers?"
Ican replies, "3"
Ferdy: "Do you know where you are?
Ican: "Madison Square Garden"
Ferdy: "Can I take a look at your Journal"?
Ican: "What Journal?"
Ferdy, to himself, "Too bad. He could have been a contender."

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