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The Rudolph phenomenon

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RudolphPoor Rudolph! He was a bit different from all the other reindeer and they laughed at him and called him names – they didn’t let poor Rudolph join in any of their games.

It’s not dissimilar to starting your trading career. Of all the traders I know, only a few of them told their close family and friends when they embarked on their trading journey. Like Rudolph they feared being ridiculed for being something a bit out of the ordinary.

But, in this lighthearted but potent piece in the run-up to Christmas, let’s see what characteristics traders share with the other reindeer.

Dasher (speed)

As a long term trend trader I wouldn’t say speed was the most appropriate attribute. To me, slow and steady wins the day.

Of course, Dasher and his team have only one night to visit all the children in the World so his agenda is somewhat different to mine. Don’t fall into the trap – that there’s only one trade-of-a-lifetime and you have to hurry not to miss it. Take your time and assess your options.

However, Dasher is a leader and becoming a retail trader sometimes means going against the well trodden path, too. Trading isn’t the most typical career choice – so some tenacity is required!

Dancer (grace)

Surprisingly grace resonates well with my style of trading. It is a graceful dance to get in and out of the markets in a dignified and well mannered nature.

When a trend plays out in a well-ordered way it is eloquent in its elegance. And to accept your wins, as well as your losses, with good grace is by far one of the better attributes of a trader.

Prancer (power)

On the one hand power donates ability and competence. These are essential skills of a trader.

On the other hand a trader must accept the power of the markets – however right you may think you are, the market has its own idea of where price should be heading. And it plays its hand very close to its chest, only allowing us to see the changes a little at a time.

Trying to control the markets is impossible (and probably illegal). Accept where the power lies and develop a strategy to work with the market rather than against it.

Vixen (beauty)

Vixen, like Dancer, adds a touch of glamour and beauty to trading. The glamour might be misleading though – we are often tempted by quick profits which can warp our thinking and distort our goals.

But once you have developed a trading style that not only works in the marketplace but also works for you, the beauty as trades unfold can be a wondrous sight to behold. It’s almost magical!

Comet (wonder and happiness)

There is certainly much to wonder at, as your trading skills grow. As comets reach for the stars, so too do our hopes and dreams when trading begins to make sense – and make money.

To be a good trader you need to display more positive traits then maybe you ever have before in your life. Becoming an all round better trader means becoming an all round better person – which in turn leads to an increase in happiness.

Cupid (love & joy)

A match made in heaven! While I frequently remind people that making money is boring, I do love trading. It offers me a lifestyle that fits well with both my personality type while also being challenging enough to keep me interested, mentally alert and active in the markets.

Certainly the cupid bow of trading struck me at an early age – the path of love was not smooth but it was worth the wait and the rewards.

Donder (thunder)

Trading is not without it’s overcast and thunderous days. Especially in the early years of trying to establish your trading style and methodology.

Don’t let the dark envelop you – try and remain upbeat and optimistic. Always give yourself options. A rumble of thunder need not ruin an otherwise wonderful day!

Blitzen (lightning)

Occasionally we have an epiphany in trading. A strike of lightning out of the blue.

It may be worth taking another approach, a personal characteristic you have that can be introduced or amended, or simply a fantastic “a-ha!” moment when everything falls into place.

Thunder and lightning often strike together so your epiphany may come from your darkest trading moments. It always pays to persevere and eventually you will see the light.

Rudolph saves the day

Rudolph was a bit of a latecomer to Santa’s party, having missed the stock market crash of 1929 and most of the 1930s depression. Maybe that’s why the other reindeer were not particularly fond of him – at first.

But they soon realised that change can be a great thing. Rudolph’s technologically advanced red nose helped them see through the fog – and get all those presents delivered in time to make Christmas Day special for everyone. That’s all the reindeer wanted – to spread happiness and joy.

You may find that those around you don’t want you to change either – this is the Rudolph Phenomenon. But once Santa saw Rudolph’s potential all the other reindeer suddenly wanted to be just like him, too.

It just takes one person to take a bold step for others to follow. You can be that person to make trading work – for you and your family.

Go Team Reindeer!

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Happy Holidays…

Anne Chapman

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