On the Dangers of Chasing Trades and Losing Yourself

That's a great quote from Will Smith.  Substitute "ideas" for people and you have a pretty good recipe for success in markets.

When we doubt ourselves, it's easy to chase other people's ideas.  After drawdowns, it's not at all easy to do your own thing and sustain hard work.

Drawing down by chasing trades or other people's ideas is a double loss:  the loss of capital and the erosion of self-confidence that comes from placing the judgment of others ahead of one's own.

To pursue your best work and lose money is frustrating.  To fail to pursue your best work and lose money is self-betrayal.

When trading becomes difficult, you want to double down on who you are and what you do best.  It's amazing how ideas come to you--and stay--when you do your own thing:  the things that brought you success in the first place.

Further Reading: The Reason I Don't Partner With Your Firm