This episode is about the importance of contingency plans. Much of this I learned from studying Bill Walsh. I also get into my year end review process and a little bit about the market turmoil right now.

I talk about how I approached my tennis match tonight with a different mindset and how it relates to a successful trading mindset.

I discuss the current environment in the stock market and the attention the inverse head and shoulders pattern is getting. When this many eyeballs are focusing on something it creates the potential for a lot of fake outs before the real move happens. Planning ahead and running scenarios can be very useful.

I share some experiences of being caught by getting sucked into the crowd. The more work we do the more we get attached and feel we’re right. It’s when a group of more sophisticated investors agree when caution is needed most.

Today I discuss the perils of losing your own voice and taking on opinions and ideas of others that you haven’t analyzed.

I discuss my thinking around the various election outcomes.

Preserving your momentum is something that you can proactively manage. In this recording I talk about how I do that and why I think it’s one of the most important things you can do in your trading.

Nothing predicts future success more than quick losses and being willing to miss moves.

Stay curious and be willing to take days off to clear your head. It will preserve your momentum and help you stay open minded. It’s been a hard lesson for me to work in a less linear fashion.

An old lesson came back to bite me in a big way at an inopportune time. Position sizing continues to be my greatest strength and greatest weakness but at this stage of my career the downside of that is less tolerable.