“Play to win and win to play. Playing to win is one of the finest things you can do. It enables you to fulfill your potential. It enables you to improve the world and, conveniently, develop high expectations for everyone else too. And what if you lose? Just make sure you lose while trying something grand. Avinash Dixit, an economics professor at Princeton, and Barry Nalebuff, an economics and management professor at the Yale School of Organization and Management, say it this way: “If you are going to fail, you might as well fail at a difficult task. Failure causes others to downgrade their expectations of you in the future. The seriousness of this problem depends on what you attempt.” In its purest form, winning becomes a means, not an end, to improve yourself and your competition. Winning is also a means to play again. The unexamined life may not be worth living, but the unlived life is not worth examining. The rewards of winning – money, power, satisfaction, and self-confidence – should not be squandered. Thus, in addition to playing to win, you have a second, more important obligation: To compete again to the depth and breadth and height that your soul can reach. Ultimately, your greatest competition is yourself.” (more…)
Archives of “high expectations” tag
rssNew Formula For Day Traders
Most people enter trading with the idea that they are going to make a lot of money. In other words, they have high expectations. There is nothing inherently wrong with that idea. In fact, we need motivation, and making a lot of money can be a great a motivator. Unfortunately, many traders also have low self-confidence. And are not profitable or not trading at the level they desire or are capable of.
This is a fairly common condition that can be expressed in the simple equation: High Expectations + Low Self-Confidence = Poor or Inconsistent Performance.
The new formula becomes: Focus on Process Goals + High Self-Confidence = Better and More Consistent Performance. (more…)