Cut Off Toxic Influences In Life, Trading

2020-04-29 | Simpler Trading Team

From John Carter, Founder of Simpler Trading

(This article is an excerpt from a piece written by John Carter and is being presented over the next several weeks. Watch for John’s insightful takeaways on Wednesdays.)

You Don’t need a reason to cut off toxic people in your life.

If you are in a situation you don’t like, or around people that raise a red flag, stand up and walk out the door.

No explanations are necessary.

In trading, when we no longer wish to be in a position, we make it a point to GTFO. (Get the “heck” out). It’s part of our plan in how to best manage our portfolio.

In trading we let the winners run, cut the losers quickly.

It’s the same with people. Have a plan to manage the people in your life. Some you keep, some you cut.

This topic came about during the current pandemic isolation. Like millions of others around the world, I was caught up in the intriguing “Tiger King: Murder, Mayhem and Madness. This is a docuseries about the eccentric life of tiger breeder and zookeeper Joe Exotic.

Tiger King takes examples of self destruction and toxic people to the next level.

Don’t be overcome by the type of people in the TV show.

There are a lot of good people out there in this big world.

To open the door for them, you first have to close the door on the toxic people around you.

What happens if you don’t take action on his principle?

Tiger King shows us the end game of what happens when you tolerate toxicity in your life.

It’s not how I want to live. So, I’ll enjoy isolation and the future with good people.

We Saw: wild build up into multiple earnings reports — 

  • Dow spiking more than 530 points after flat Tuesday
  • Gilead drug shows promise amid skepticism
  • U.S. pandemic deaths are sobering

We’re Watching: … for momentum shifts —

  • Markets looking bullish on surface, in public
  • Bearish itch signals caution in near future
  • Effect of Fed throwing “kitchen sink” into saving economy

Learn more about navigating news and the markets — check out the Simpler Trading community HERE.