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#645 - The Hidden Benefit Of Time Pressure: Hey everyone. This is Kirk here again from Option Alpha and welcome back to the daily call. Today, we’re going to be talking about the hidden benefit of time pressure. Many people are familiar with Parkinson’s Law. If you’re not, basically what...

#645 - The Hidden Benefit Of Time Pressure: Hey everyone. This is Kirk here again from Option Alpha and welcome back to the daily call. Today, we’re going to be talking about the hidden benefit of time pressure. Many people are familiar with Parkinson’s Law. If you’re not, basically what...

A partire dalThe "Daily Call" From Option Alpha


#645 - The Hidden Benefit Of Time Pressure: Hey everyone. This is Kirk here again from Option Alpha and welcome back to the daily call. Today, we’re going to be talking about the hidden benefit of time pressure. Many people are familiar with Parkinson’s Law. If you’re not, basically what...

A partire dalThe "Daily Call" From Option Alpha

valutazioni:
Lunghezza:
5 minuti
Pubblicato:
Jun 28, 2019
Formato:
Episodio podcast

Descrizione

Hey everyone. This is Kirk here again from Option Alpha and welcome back to the daily call. Today, we’re going to be talking about the hidden benefit of time pressure. Many people are familiar with Parkinson’s Law. If you’re not, basically what Parkinson’s Law says is that a task will swell in perceived importance and complexity in relation to the time allotted for its completion. A good example of this would be – Let’s say you want to change your diet and you want to start going to the gym and eating healthier. You might give yourself a year to change your diet. Now, just that little act of intuitively giving yourself a year to change your diet immediately tells your brain and your subconscious that this process is way more important and way more complex than actually maybe it needs to be. Giving yourself an entire year to change your diet and change your exercise or fitness regimen does not need to be the case. You don’t need a year to change it. Maybe actually a week and you could get everything setup to do something completely different. What happens is that when it comes to trading and investing, traders will often say, “I’m going to give myself six months to learn options trading.” or “I’m going to give myself a year to start transitioning to options trading.” But the reality is that when they do this, they give their subconscious these indications and these little queues that options trading is way more complex, it’s way more important and therefore, it needs all of this time to start learning all of these different things and what you end up doing is finding yourself down a very deep, dark rabbit hole of trying to learn everything there is to know about options trading before you place your first trade. What you should do is you should give yourself some sort of reasonable time pressure. Now, reasonable could be different for different people, but really kind of stress and hopefully challenge yourself to do something in a condensed time pressure, something that you actually feel potentially a little bit stressful and anxious about because it seems like it’s really too short of a time period. Now, does this mean that you should cram through all of Option Alpha’s courses and tracks in four days? Probably not. But we often say maybe an eight-week or a six-week window is more than enough and is small enough of a time crunch that it forces you to complete the most essential elements. And what ends up happening is that when you complete these really essential kind of big rocks as we talk about here at Option Alpha, these things that are kind of the 80/20 principle type elements of trading, you end up getting about the same results than if you had way more time and you had all the time in the world to look at every little detail and intricacy of trading. Force yourself into a smaller, reasonable timeframe. Whatever it is you want to learn, if it’s options trading, if it’s fitness, if it’s something else with your marriage or work or something business-related, force yourself to learn that concept in a more condensed fashion and focus on the elements or the characteristics of that strategy that really move the needle, the 80/20 of whatever you’re focusing on because if you give yourself more time, you’re ultimately going to find that it ends up being way more complex, taking even longer than you gave yourself initially and this perceived importance and anxiety will basically crush you and ultimately could lead you to just giving up and failing altogether. Hopefully this helps out. As always, if you have any questions, let me know and until next time, happy trading.
Pubblicato:
Jun 28, 2019
Formato:
Episodio podcast