A client of mine sent me a bio yesterday on Rod Dedeaux, who was the baseball coach for USC for 45 seasons. Dedeaux was a legendary leader, chalking up more national titles and wins (1332) than any other coach of his day. 200 of his players went on to play professional ball.
Dedeaux neither lost his temper nor disrespected or denigrated anyone. He cultivated the ability to befriend, encourage and motivate, rather than criticize and coerce. His enthusiasm was contagious as was his belief in the rewarding outcome of doing right things right. In his eyes, everyone could be a winner.
Presidents and Prime Ministers were his friends, as was adversity. He leaned into it and led by example. Dedeaux believed that pressure is a positive because it brings out our best (mistake-free) performance. He inspired unrelenting learning, growth and improvement.
Among other stellar accomplishments, Dedeaux was instrumental in achieving the greatest comeback victory in college baseball history. His team was playing Minnesota, who had a pitcher throwing 100 mph fast balls. The USC Trojans appeared to be no match for the pitcher and in the bottom of the ninth Minnesota was ahead 7-1.
Most teams would have started to believe in the inevitable, but USC was famous for remaining calm under pressure and never giving up. In less than 20 minutes the team scored 7 runs, winning 8-7. They went on to win their fourth straight NCAA championship and the next year they won an unprecedented fifth.
What does this have to do with trading, a solo activity?
Trading well requires a relationship to yourself that is both positive and encouraging. You need an inner coach who builds you up and brings out the best in you, especially when the fast balls are flying at your head.
Trading is a profession that constantly challenges us to learn and grow because the market itself changes over time. In the face of adversity, your intention should be to execute your method calmly while keeping errors to a bare minimum.
Every trade is an act of leadership…standing up, stepping out and taking a stand. Be proud of yourself as a leader and know that leaders not only take risks, they lean into them and even enjoy them. Bring resolute courage and commitment to all your trades and good results will follow.
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Learn more about Dr. Reid’s work at DayTradingPyschology.com
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