You may not think Vin Diesel had many lessons for traders. But he has several.
I mean, first of all there is the obvious one. Fast and Furious. He’s been in a few of those. But ideally trading is neither Fast nor Furious. Certainly not with Inteligex. It should be almost the opposite.
From there we can cut to one of his first roles was in Boiler Room. A “based on fact” movie about a pump and dump operation. There’s a lesson there also. If it seems to good to be true. It is.
He’s actually had a varied and interesting career. And therein is the lesson we can really learn for our trading.
One of Vin Diesels most famous career quotes is: Career diversification ain’t a bad thing.
In my opinion THAT is the best lesson for trading. I meet people all the time who tell me they “trade the eMini” or they “trade forex”. Then I ask them if they are successful. Most are pretty honest and admit they are not. When over 80% of traders routinely lose money, that isn’t a surprise.
What is a shocker for me though is when I suggest they simply widen their trading and diversify as a way of changing things for the better. The vast majority of people react as though I have told them to fly to Mars in a rocket they made themselves, yet it makes sense.
Consider today performance of Inteligex on the markets we trade every day.
If we had purely traded GBPUSD, we’d have had an ugly day. Four trades and four losers. A 30 pip losing day and $188 down (assuming you were trading futures). And that is a blow.
But we don’t just trade currencies. We trade the Dax, Dow, eMini and Nasdaq as well. We trade a basket. We diversify, and that makes a massive difference.
Let’s look at the rest of todays charts.
Firstly the Dax. One trade. 18.7 points. $94 profit booked (on the mini Dax of course).
Next, NQ. A lovely day. Seven trades. 2 losers, a scratch (break even) and four winners. The end result? A cheeky 38 points and $760 profit booked.
From the NQ to the Dow. And on to more success …. Four trades. One loss. 49 points profit. $245. A rather cheeky day on the Dow as the chart below shows.
And finally for our diversification of trading, the eMini Not my favorite contract to be brutally honest, but today it delivered a lovely 7.75 points contribution to out pot from 2 winners and 2 losers.
And there we have it. Diversification. It has been very good for us today and on many other occasions of late. And Vin Diesel? Its been seriously good for him too. A net worth of $200m and a list of movies ranging from The Iron Giant to Saving Private Ryan. Yes, really. Van Diesel was in Saving Private Ryan as this picture shows. I had no clue until this evening. But I do now.