Five Trading Lessons from the Football World Cup

The FIFA Football 2014 World Cup is finally over.  Football fan or not, it has been hard to miss. Global sporting events such as these unite us with a patriotic passion that often spans otherwise impenetrable barriers.

With the memories of a dramatic World Cup still fresh in our minds, it is perhaps a good time to reflect and benefit upon parallels between top footballers and our own trading.

Here are some of my top choices:

1 – Enjoy what you are doing

I am quite sure that 99% of professional football players have never logged in to a job-seeking website! They are all living their dream. They have reached the pinnacle of their careers because they enjoy the job.

It is not much point trading if you do not enjoy it. If the down moods outweigh the high points then something is wrong. You must be able to ride the roller coaster of “ups and downs” of any profession with light of heart and a smile!

2 – Start with a Strategy

A strategy is pivotal to starting any venture whether it is sport, business or trading.

As you progress, these strategies will likely change slightly as you seek further improvements to achieve the success that you are after.

The coaches of the FIFA teams that made it through to the quarter and semi-finals of the World Cup will not be starting with brand new strategies but working and improving on their existing plans for the next major event.

Unfortunately, those new to trading or those that struggle with trading, are renowned for tossing out a strategy without so much of a backward glance, just because of a few minor but common errors. Successful traders stick to set strategies, learn from their mistakes and adjust their plans slightly as required. But they stay on the same path.

3 – Be Methodical

The vast majorities of players at the top do not sneak out and party the night before a major game. They are peak performers. They follow a precise routine. Eating, sleeping, and training are all done at set times. Players not at their peak, for whatever the reason, end up on the bench or watching their team from their own sitting rooms.

Traders also require discipline and routine in their lives. You will be a more successful trader if you hit the markets when you are at your peak. It may not be as high as the peak as Messi reaches but still you know want I mean.

4 Visualise - and then Visualise again

David Beckham provides a good example of how visualising can get you back in the good books of zealous and unforgiving English football fans.

He was sent off with a red card in the 1998 World Cup game against Argentina which England lost. He went from villain to hero in 2002 when he scored the winning goal back at the World Cup against Argentina.

Beckham revealed after this game he has spent the last four years mentally rehearsing scoring the winning goal as way of achieving redemption in the eyes of his fans.

Traders must also learn to “Bend it Like Beckham” and visualize winning. I meet many traders that are always talking about being unlucky. No surprises they lose more trades than they win!

5 – Forfeit Fun


"I always thought I wanted to play professionally, and I always knew that to do that I'd have to make a lot of sacrifices. I made sacrifices by leaving Argentina, leaving my family to start a new life. I changed my friends, my people. Everything. But everything I did, I did for football, to achieve my dream" - Lionel Messi

When I decided to trade full time in 2004, I had to forfeit many things in my life at that time. These included a social life, no television at home and dropping negative friends that told me I would fail in my important endeavor. In hindsight, sacrificing a full-time salary having just bought my first home in London was particularly risky. But it made me work harder than I ever did at my previous job. There are many more sacrifices I could list, but the point is that, as with professional football players, if you wish to succeed in trading you will need to make sacrifices.

It does not come easy but the end goal is worth it if this is want you want to do.

By Nick McDonald

Register for our live webinars below:

High Performance Trading For A Busy Lifestyle runs on

• Wednesday 23rd July @ 5am New York, 10am London, 7pm Sydney, 9pm Auckland

Or Alternatively (depending on time zone)

• Wednesday 23rd July @ 8pm New York, 10am Sydney (next day), 12noon Auckland (next day)

Regards,
The TWP Team
www.tradewithprecision.com