SCOTT WELSH TRADING BLOG

Ten Recommendations For the New Year

Ten Recommendations For the New Year

Jan. 6, 2016

Happy New Year!

This week I wanted to take a break from Robot Talk and instead offer a few ideas that can make your life better in 2016.

Here are my New Year’s recommendations:

  1. Get a Fitbit. This is not another silly gadget. This thing is a game-changer. Our metabolism doesn’t slow down as we get older, we just start sitting down too much as we get older. They say that sitting is the new smoking, and a Fitbit device fixes all that. In fact, a Fitbit changes everything.

I’m not a doctor or a nutritionist, but I’ve trained elite athletes for over two decades, and I can also manipulate my weight down to the pound anytime I want to. And one of the keys to being fit is moving at least 10,000 steps a day. It’s magical.

Just find a way to move 10,000 steps every day, and you’ll change your body permanently. But that’s not all. Here’s what happens when you become addicted to taking 10,000 steps:

  • Your perspective changes. For example, you’re pulling into the supermarket and someone cuts you off, taking the prime spot close to the door. Instead of getting into a fistfight, you smile. You smile because you realize you get more steps in if you park farther away.
  • You stop getting annoyed all the time. Oh, the elevator’s broken? Great, now I get more steps! Forgot something that’s all the way on the opposite side of Costco? Great, now I get more steps! Long walk from the parking garage to the theater? Great, now I get more steps!
  • You get accidental benefits. You take a longer path when you’re walking downtown (to get more steps) and end up finding your new favorite restaurant. You start taking walks in the woods to help get to 10,000 steps and find yourself getting more peaceful. You go to Vegas for a couple of days and end up walking almost 40 miles on the Strip, allowing you to eat anything you want and hardly gain any weight (true story).

It’s my #1 recommendation for the New Year. If you do nothing else, do this.

  1. Eat better. If you should decide to add better eating habits to your 10,000 steps a day? Oh my goodness! You’re going to see amazing results. But the question is: How do we eat better? Everyone seems to have a different solution for eating healthy. Here’s a solution. Read Food Rules: An Eater’s Manual. It’s the best book I’ve found on what to eat.
  2. Read good stuff. If you really want to think deeply on important, poignant subjects, check out Brainpickings.org. If you want to someone with an interesting perspective, check out Derek Sivers’ blog. My good friend Rob Booker turned me on to this site not too long ago, and it’s awesome.
  3. Listen to good stuff. I’m almost entirely off of television now. Why watch TV and get dumber when you can listen to a podcast and get smarter? Find a subject you like and listen to a podcast on it. As a starting point, you can’t go wrong listening to Tim Ferriss. Of course I also listen to The Traders Podcast (because I love trading and because I’ve been a guest-host on it and because it’s good!).
  4. Get rid of toxic things in your life. This is great advice, and you’ve probably heard it before. Guess what? It works. And do it in your trading, too. If a financial instrument is giving you grief, get rid of it!  No time for anything else.
  5. Do what you like. Stop doing what you’re “supposed” to do.  Read what you like. Talk to who you like. Listen to who you like. Work where you like. And trade what you like. If you don’t like being in a trade, don’t be in that trade! Make this the year you figure out what you like and stick to that.
  6. Wear MeUndies. This is a sponsor of Tim Ferriss’ podcast, and it’s kind of annoying how he talks about it before nearly episode. But my mom sent me some MeUndies pajamas as a present–and they are amazing! I wear them any chance I get. It’s hard to even leave the house now. It’s worth a try, that’s all I’m saying.
  7. Read fiction before going to sleep. I’ve had a hard time getting to sleep in the past, but reading fiction has cured that. If you read something factual and important late at night, it can get you thinking and keep you up. But having something fun to look forward to makes going to sleep enjoyable, and a fake story helps your mind relax. I like the Jack Reacher novels, but you can try anything as long as it’s fun and fictional.
  8. Stand up without using your hands. I know, this sounds ridiculous. But have you ever paid attention to how much you use your hands when getting up from a sitting position? For me, it was a lot! By simply never allowing myself any help from my hands, my legs have gotten stronger and my knee pain has pretty much gone away. Your legs get a little stronger, your core gets a little stronger, and you generally feel much more stable. Don’t mock it till you’ve tried it!
  9. Define success. Success is a funny word. Everyone thinks they know what it means until they have to define it. What is success anyway? Is it money? Happiness? Helping others? How do you know you’re successful? What does successful look like? What does it feel like? To be successful, you must first answer these questions.

In a new video coming out this week, I’m going to answer this question in detail (specifically in regard to trading for a living). The data I’ve found is pretty fascinating.

Let me know what you’re doing to make 2016 a great year. And look out for my video on success coming tomorrow.

 

Disclaimer:
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. Examples presented on these sites are for educational purposes only. These set-ups are not solicitations of any order to buy or sell. The authors, the publisher, and all affiliates assume no responsibility for your trading results. There is a high degree of risk in trading.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.