Steven Pressfield published a blog post yesterday about planning his work in a week that he was expecting to be very chaotic:
This coming week for me will be particularly chaotic. But how is that different from any other week? If I were a single Mom, OMG, chaos would be my life. If I’m in school, if I’m working two jobs, if I’m just basic-issue loony, OCD, scattered, zoned, totally freaked by life in general and my own idiosyncratic nuttiness, it’s chaos all day every day. That’s the playing field. I might as well get used to it.
Bottom bottom line: I’m gonna get something done this week. I’m not gonna cave before the period even begins. I’m quite optimistic actually. I’m hoping, with luck, for something good.
He makes a good point that everyone is likely to experience these very hectic times in their lives. Many of us are more likely to be working in an environment of chaos than one of peace and quiet on any given day. Knowing that, how can we manage to get our work done without letting ourselves get lost in the chaos?
One of Pressfield’s solutions was to focus on using a few minutes of down time here and there to bang out some lower level work in order to accomplish at least some progress for the week. However, this idea gets a little more complicated for traders who have real money on the line when the markets are moving.
The market is not going to stop and take a day off because your going through a rough week. That means that you need to have a plan in place for when life happens, and life happens to all of us. This plan could be simple stop-loss orders, an assistant or partner to monitor your positions, or an automated system that allows you to trade without much effort.
Crazy shit is going to happen in your life. That is almost as certain as death and taxes. Is your trading strategy prepared to handle it?