“An hour of effective, precise, hard, disciplined – and integrated thinking can be worth a month of hard work. Thinking is the very essence of, and the most difficult thing to do in business and in life. Empire builders spend hour-after-hour on mental work…while others party. If you’re not consciously aware of putting forth the effort to exert self-guided integrated thinking…if you don’t act beyond your feelings and instead take the path of least resistance, then you give in to laziness, make bad decisions and no longer control your life.” – Kekich Credo #44
I agree with basically EVERYTHING he says.
Zych’s Workout: “I workout 6 days a week, usually 1-2 hours during the week and 2-3 hours each weekend day. During the week, I workout in the mornings (usually get up around 5:30). My work hours sometimes get a little crazy, so this is the only time I know I have available. Also, nothing beats the post-workout feeling as I sit down at my desk in the morning. I like to schedule a workout on Saturday morning, mostly to keep myself from drinking too much on a Friday night haha. If my body is too sore, I will take a day off. I used to try to train through the aches and pains, but it just isn’t smart. The last thing I want to do is get hurt.
“I belong to a local CrossFit gym (CrossFit Deep), where I do most of my lifting. I don’t always agree with their programming (burpees are stupid), but I can lift heavy and drop weights and be loud there. There are also some great athletes to compete with.
“I have a football training background, so that makes up the meat and potatoes of my training. Bench press, Olympic lifts, heavy squats and deadlifts. I do not do body part splits. “Arms Day” is stupid. Every day is Leg Day in some shape or form.”
I do 2-3 days of sprint work per week. This consists of jumping/explosiveness drills, flexibility work, and 100% effort starts and short sprints. I do this at the local track or in parking garages (great for hill sprints) if I’m stuck at the office. I’m terrified of not being fast, it’s weird.
I will spend a little bit of time on “skills” every day—things like rowing form, jump rope double-unders, handstand holds. My most recent projects are muscle-ups (a pull-up into a dip on hanging rings) and snatch (the Olympic lift)
I try to do some dedicated conditioning 2-3 per week. To me, this means running (treadmill interval sprints, 100 yard sprints, etc.). I also do CrossFit circuits as part of the gym’s programming (refuse to call them WODs or METCONs) which incorporate combos of lifting, running, jumping.
Nutrition: “Since I’m sitting at a desk for sometimes up to 100 hours a week, I try to be as healthy as possible when at the office. Some rules: try to bring prepared lunch as much as possible, only fruits/veggies as snacks, only drink water or milk during the day. I don’t follow a strict diet, but instead try to shoot for 6 “100% healthy days” a week. I define that as no alcohol, as much sleep as possible, and clean diet (meaning lean proteins and carbs mostly from fruits and veggies). I give myself 1 day a week to eat/drink whatever. This usually ends up being Saturday. This usually ends up being pizza. This usually ends up being beer.”
“Don’t let the fear of the time it will take to accomplish something stand in the way of your doing it. The time will pass anyway; we might just as well put that passing time to the best possible use.” – Earl Nightingale
I’ve only been back at work for a few days, but already I’m noticing that the more wholesome activities are quickly dropping out of my life: walking, exercising, reading, meditating, and extra writing.
The one conspicuous similarity between these activities is that they cost little or no money, but they take time.
So think about this, long and hard. Get out a notebook and write down your answers then give it some serious consideration.
If your doctor told you today that you had 6-12 months to live what would you immediately stop doing?
What do you do regularly that you have no passion for?
What brings you down that should stop doing?
Who brings you down that you should stop spending time with?
What are you wasting countless hours each week doing?
What things would you start doing?
What have you always wanted to do or learn but put off because you were “too busy?”
What friends could you reach out to more often that you haven’t seen or talked to in a while?
What experiences would you want to have?
Who would you want to spend time with?
What would you want your legacy to be?
Overall great article, Sykes can really put out quality material when he wants to. Great list for trading or any career/pursuit. Bolded areas were highlighted by me.
- Avoid the earn-to-spend mentality. If you want to get richer, you have to save some of what you earn. And if you save more than what you earn, it allows you to increase your trading account and take larger positions which in turns leads to larger profits! My 2nd millionaire student Tim Grittani made $200,000+ in one day HERE on the SAME pattern that he was making $5,000-$10,000 on a year earlier because he was more experienced, he saved his winnings and thanks to his larger trading account size, he could take larger positions.
- Focus. This is a big one for my students. If you don’t have focus, you aren’t going to be able to make the best trades. You should also write down you goals in each trade and for life in general. This will make it far easier to stay focused and remember what you wanted in the first place.
- Do whatever is necessary to meet your goals. I don’t care when people tell me I can’t do something and neither should you. Heck, you should use that as motivation to prove them that you CAN do it.! People who earn their millions are perseverant in the pursuit of their goals.
- Take calculated risks. In trading and in life, you want to take the right risks. I am always talking about the risk and reward ratio in my trades. If there is more risk than there is reward, then it’s not a good decision. If, however, there is far more potential for reward in the risk, then you should go for it!
- Be generous. Just like on Thanksgiving of last year when I handed out food to the homeless or the scholarship program I set up at my alma mater, you need to be a generous person. People like Bill Gates, Warren Buffett, Carl Icahn, and Ken Langone are all very generous billionaires that you should look up to.
- Start the day before the sun comes up. I often get up before sunrise to catch up on emails and other tasks so that I am fully prepared for the trading day once the market opens. I suggest you do the same. If you still have things to catch up on by the time the real work begins, you’re not going to be as focuses and in turn you won’t be as productive.
- Read every day. Whether for pleasure or purely to learn, reading more has been known to help the mind. You could read my book, you could read SEC statements, you could read a fictional novel, just read! It’s far more productive and helpful than watching reality TV.
- Never stop learning. This is a common theme amongst millionaires; they never want to stop increasing their knowledge base. My students are already on top of this one, especially those that watch my DVDs as well as read my newsletter and watch my video lessons. Always remember that knowledge is power!
- Stay motivated. This is key. Some ways to help with this is writing down your goals, surrounding yourself with people that are supportive and helpful, take a break to refocus your thoughts and remember what the big picture is, etc. I love traveling, so that is one of the ways that I stay motivated. I know that if I wasn’t as successful as I am right now, I wouldn’t be able to take these amazing trips around the world, and that keeps me focused.
- Do a good deed every day. This goes back to being generous. Helping others will make you feel good about yourself and enjoy what you are doing. That is why I love teaching. It’s an amazing feeling to know that by just telling other people how I trade and teaching them my strategy, I can help them become more financially independent and live happier lives.
- Lastly, step outside of your comfort zone. If you want to be notable and more than ordinary, you can’t just do average things. You have to experiment and change things up! I could have just continued to trade for myself and run a hedge fund, but I wanted to help others and run my own business. This has given me a great deal of flexibility that I wouldn’t have had if I hadn’t been willing to step out of my own comfort zone.
A new American dream has gradually replaced the old one. Instead of leisure, or thrift, consumption has become a patriotic duty. Corporations can justify anything—from environmental destruction to prison construction—for the sake of inventing more work to do. A liberal arts education, originally meant to prepare people to use their free time wisely, has been repackaged as an expensive and inefficient job-training program. We have stopped imagining, as Keynes thought it so reasonable to do, that our grandchildren might have it easier than ourselves. We hope that they’ll have jobs, maybe even jobs that they like.
In order to improve my overall discipline, which will invariably improve my trading discipline I’ve decided to pursue another month of Victor Pride’s 30 Day’s of Discipline.
I have more or less been following about 8 out of 10 of them all summer, but made a couple tweaks to the plan. Mainly because I’ve opted to give up alcohol for the summer in order to get in better shape as well as create more mental clarity. Seeing Tim Ferriss’s NOBNOM challenge got me motivated to announce it publicly and put more energy towards daily discipline.
My trading has been solid all summer, but several break downs in simple decisions and planning have frustrated me. This often starts from lack of planning and preparation in the morning. Most of Victors rules revolve around a solid morning routine. And while as far as I know he has nothing to do with trading the ideas click with me because I find when I have a solid morning that goes as planned and I hit all my steps, trading profits follow.
And while he does not extol giving up booze Ferriss’s plan does. I decided to mash them up and create a plan to make my mornings and day’s more consistent and full of energy. Staying up to late and drinking beer creates mid afternoon fatigue for me. Mid afternoon fatigue coupled with boring markets breeds losing trades faster than the movie Gremlins…
I also need to free up focused time to complete my Part Time Pennystocks book before September. So by forcing discipline and a tighter routine I think I increase my odds of hitting my goal considerably.
Below are links as well as my tweaked mashup plan.
1) For 30 days there is no consumption of beer or alcohol.
2) For 30 days must wake up daily around 5am.
3) For 30 days you must take cold showers.
4) For 30 days there is no masturbation or internet pornography allowed.
5) For 30 days you must do 100 pushups, 100 sit-ups, and 100 body squats per day.
6) For 30 days there is no snacking. Only 3 meals per day maximum can be consumed.
7) Every day for 30 days you will have a ‘to-do’ list that you must accomplish.
8) Every day for 30 days you must keep correct posture – stand up straight, chest held high, head held high and make eye contact with everyone.
9) Every day for 30 days your answers to yes or no questions are “Yes” or “No”. Excuses and ex- planations do not follow your answer.
10) Every day for 30 days you must keep a notebook and pen with you.
11) You must have one specific and definite goal. This is something you will choose.
12) You can take a lazy Sunday morning and wake up later, but Sunday is used to prepare. You must review all notes for the week, go over plans for the week ahead and jot out your short-term to-do list and your longer-term to-do list.
You are soft. If you were born in my generation or thereabouts, you are almost certainly soft. You live a nerf life in a nerf world, filled with nerf delusions.
Check the boxes. Put in your 8 hours a day. Get what you you earned. Get anything.
That’s not how it works. But you don’t get to complain that the game is rigged. Why? Because it’s basically fairer than it ever has been. It’s unlikely you’ll suddenly die. You don’t have to go to war. You can travel from place to place and never, ever worry about pirates.
Yet we’re soft. We quit early. Settle. Complain. Think we deserve a break. Make lazy, self-serving assumptions. Try to get the most for the least work.
Stoicism is hard. Cato was hard. They were obstinate, in a good way.
Consider what hustlers call their work: “grinding.” Not “the grind,” diminutively like us, but grindin‘. The hustle. Working all day and all night, looking for an angle, taking their share. They have to, there is no other way.
You have to cultivate that hardness. And you better start soon, because we’re all in the same ghetto now. How? Savagery is one way. You have to learn to love the struggle. To know how to grit your teeth, and promise yourself that you will never, ever let something like that happen to you again.
Everything is a test. It’s a test to see how hard you are. Will you keep going? Can you get to your knees? Can you get you to your feet? Can you try again? Can you bear it? There’s no end in sight, how long can you last?
Stop failing this test. Stop being soft.
“Often this is individuals who want to produce something that is appreciated by others in written or artistic form, whether it’s music, dance or visual arts,” Hill says.