Tag Archives | apiaryfund

How Running Has Helped Me Become a Better Trader

Ever been stuck in the slumps? Yeah, me too.

tired-runner

For the past couple of months I’ve felt like the man in this picture. When I ran, I was just going through the motions-just trying to finish my work out. Sure, there were some good days here and there, but I knew that I wasn’t reaching my potential as a runner. I also wasn’t feeling the happiness and energy I usually felt after a good run. I approached my coach, and he gave me some steps to help me out of this rut I’d gotten myself into. However, I realized that these steps wouldn’t just help me in my running; they could help me with my profession, my social life, and (of course) my trading.

  1. Set my sights higher than just the next race

I know you’ve all probably heard more than your fair share of motivational speeches centered on goal setting, but honestly there is something about a goal that just helps you focus on improvement. When I stopped and focused on what I was going to accomplish the racing season, I saw each race as a step to reaching my personal record. When trading, you have to look further down the road than your next trade.   What do you want to accomplish today?  This week?  This month? You have to set your sights higher than a single trade and discover what you can do to accomplish your personal best.

  1. Stop running so much

What? To improve running you need to stop running? To a degree, yes. Running daily is very important, but I always reserve one day of the week to resting and recovery. Without this break, I would end up running less during the week because my legs would become overworked. Sometimes, you need a little break from trading. Don’t spend all day with your eyes glued to the candles on your screen-go for a run or something 😉

  1. Track your mileage

I always track my mileage – along with how much sleep I get, and the food I eat. This not only helps me feel good throughout the season, but I can look back and see when I was struggling or doing good. By tracking my progress this way I can see what made me sick or tired and what made me feel good and energized. Track your trades. Notice what setups work for you, and what triggers an unwanted emotional response. Besides, whether your profitable or not, it always feels good to look back and see the progress you’re making.

  1. Mix it up

Contrary to what some may imagine of a typical cross country runner, I actually lift a lot weights. My core and upper body strength is just as important as having strong legs when I run. Sometimes, at the end of a race, if your legs feel like they don’t have the energy you can pump your arms, and ,crazily enough, your legs will follow! When you’re trading you need to be prepared for different market events. Learn to trade in long summer doldrums, as well as high votility markets.

  1. Change your attitude

One of my pet peeves is when I go to a race, and hear runners complain that they have to run. Don’t you run because you like it? If you don’t like it, then why are you here running?! I like feeling strong, the runner’s high, and swelling accomplishment that fills you up and makes you feel like floating. What do you like about trading? If you can’t answer this question, then you need to find out why you’re trading. Identifying why you’re trading will help get you through the slumps.

I hope if you’re feeling a little bit stuck in a rut in your trading, that you can try these out. Make trading enjoyable again, and go make some pips.

Happy Trading!

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Good “Luck” Trading

If good trading is all about luck, then Apiary has sown the seeds for success…  quite literally!  About a year ago, Shawn had a vision of turning an ordinary fescue lawn into a factory of four leaf clovers!  While most gardeners might balk at the idea of purposefully growing clover, (clover is considered a weed in most places) at the Apiary Fund we find it quite delicious. With thousands of hungry bees working at the office (mostly real bees, and a couple of human bee-ings) nobody balks at a fresh batch of clover honey – or a fresh batch of clover juice – to keep the trading session lively!

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cloverjuice

 

We got a new juicer for the office Monday and tested it out with a frothy glass of  “Luck O’ the Irish”  clover juice – straight from the lawn!  Disclaimer. We don’t actually know if drinking freshly juiced four leaf clovers will give you luck in the market but we figured, hey, it couldn’t hurt!

Obviously, there are other great ways to find success in trading that don’t depend on ‘good luck’ charms.  Trading forex isn’t about magic tricks or superstitious rituals and it’s definitely not based on luck like the slot machines in Vegas.  Instead it’s honest, consistent effort and discipline that will bring home the green in the currency market!

Here’s some links to a couple blog posts about being a successful trader.

http://www.apiaryfundblog.com/our-philosophy-on-success/

www.apiaryfundblog.com/8-expectations/

Happy Trading!

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Our Philosophy On Success

I was on facebook the other night, and I ran into an article, “Will Your Child be Rich or Poor? 15 Poverty Habits Parents Teach Their Children.”  I read the article, and was surprised by Habit #4. It stated,

“62% of the wealthy floss their teeth every day vs. 16% of the poor.”
 

Now that may seem like a silly statistic about an unrelated field.  I mean, how does flossing your teeth connect with the size of your bank account?  As I started to think, it hit me as to why it was #4 on the list. Successful people are creatures of habit, but not just any habits: Successful habits.

If you want clean teeth you need to both brush and floss.  I don’t think I am saying anything too ground breaking here.  I mean, we’ve all been taught the benefits of dental hygiene from a very young age.

So how will dental floss help you in your trading?

Habits.  We, by our life experience, create habits on how we act when different things happen to us.  When people see the market falling they are naturally fearful.  When people see the market raising they are naturally greedy.  It is not the emotions that define who we are, it is what we DO with those emotions.  Do you let fear take control of you?  Do you cut your winners short?  What we have found in the Apiary Fund is that the most successful traders are the ones who have a set of rules, and apply those rules consistently every day.  We all have times in trading where the market does not go our way.  The question is what do we do at those times?

Remedy: Know your rules and follow them.

That might seem like a nice trite remark, but what do I mean by know your rules?  Step one is to write your rules down on paper.  I know most of you have your system that you follow in your head, but if you can’t write it down then you can’t measure it.  If you can’t measure it you can’t improve it.  Once you know it, you have to follow it.

Seems like a simple enough recipe for success, but then again so does flossing!

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Fear of Failure

A 2014 study conducted by Babson College revealed how fear of failure stops some people from engaging in activities where failure is a possible outcome – including the activity of learning. The study concluded that the fear of failure negatively influences a person’s motivation to learn and their attitude toward learning.A mature business man giving a presentation to some colleagues.

This study has direct implications on the mission and purpose of the Apiary Fund. At its core, the Apiary Fund teaches a person how to manage an investment portfolio – an activity where risk of failure is very real. We accomplish the goal through a progression of classes, simulation, and the eventual management of a small portfolio in live market conditions.

At every step, Apiary works to mitigate the elements of risk and teach a person how to properly analyze and make decisions that include risk. We strive in every possible way to give a person the greatest chance of success in learning how to manage an investment portfolio.

The irony of this study is that when fear of failure prevents a person from engaging in an activity that will make them better, it almost assures their failure in that activity. And when that activity is learning how to manage our finances and investments, the cost of failure can be high! Imagine living your life and avoiding all investment decisions – it is likely to leave you broke for retirement. Imagine giving all those decisions to someone else – it leaves you vulnerable to fraud, mismanagement, and high costs.

We know that many of you join Apiary Fund for the opportunity of trading our money. It is a wonderful incentive – one I wish I had when I was first starting! However, what you really gain through your Apiary experience is a skill and an ability to make intelligent decisions that involve the risk. That is a skill and an ability that has far a greater reach and value in your life than any amount of money you could trade for Apiary Fund!

Happy Trading,
Shawn

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