Why Traders are Luckier than Olympians
We are very lucky we trade instead of sprint (or any other Olympic sport).
Consider the comparisons and realize how lucky we have it. Olympic athletes must train like crazy for 4 years and they get 1 shot to win a Gold Medal 🏅on the world stage.
The pressure must be unimaginable.
They can win or lose by 1/100th of a second. There is only 1 winner. If you stumble or it just isn’t your day…your chance of success is gone.
Olympians can’t use a stop loss or diversify. They can't get help in the middle of the competition or ask others for ideas.
They can’t come back and say I will do better on Tuesday…or next week…or next month…or even next year. 4 years is the wait…and the age clock is ticking.
An athletes opportunity to fulfill their lifelong dream may be gone forever.
We as traders and investors on the other hand can come back new and fresh each day/week/month as long as we stay in the game (don't run out of money or lose the grit to keep trying). We can win many ways…long, short, options, swing trading.
We have many chances each month.
With investing, there is no competition where only one of us can succeed. We can all make 25% or 100% on a trade.
We all could have invested in Netflix or Amazon years ago.
We can all invest in Spotify or Stitch Fix now.
We can switch from technology stocks to retail stocks to medical stocks easily.
It's a push of a button on E*trade. There is no switching cost at all. An athlete can’t switch from swimming to running to volleyball based on what is best at the time.
What's even better? There is no age limit to what we do. Ideally, we learn and grow our assets and get better as we age.
All in all, I thank my lucky stars we have chosen this path instead of one where it is all or none in a 3 minute race and only 1 person can win.
Trading is the ultimate occupation/hobby for someone who wants financial freedom and flexibility with ease.