If you haven’t had the chance to see the movie “Whiplash” set aside time to do so. While the backdrop of the film is jazz music themed, there are certain scenes that assert valuable lessons for anyone looking to perfect a specific skill.
Briefly, the film follows Andrew, an aspiring drummer who is accepted to a cut-throat music conservatory in NYC. There he is subjected to elite jazz hell by Fletcher, a tyrannical and abusive instructor hell-bent on getting the best out of the best. Whether or not you agree with the teaching style of Fletcher, there are scenes throughout the movie that offer valuable lessons.
My favorite being “The Good Job Scene.”
I relate this particular scene to the daily back and forth between myself and my trading coach. It goes something like this:
Trent: Jeff, I’m interested in $GOOGL calls here, I like the spot because of this this and this.
Jeff: We talked about this earlier, I wouldn’t here. There is this this and this wrong with that idea.
Trent: Yeah but this and this happened and now I saw a big block of calls go off and …
Jeff: So you are following the herd is what you are saying and entering a trade elevated?
Trent: You are right, I’ll circle back and reconsider.
Jeff: You’d be wise to.
This scenario plays out at least 5 times a day, every day the market is open, and has for 4 plus years running. Probably 85/100 ideas I present and make a case for get shot down, or at minimum I am told to wait on. When I started, it hurt my ego a little bit. Now, I have no ego. Not in trading. I lost my ego but it was replaced by profits.
Trent is a young kid, pretty good at trading. Memorized multiple technical analysis books, got a designation and was pretty confident. Starts trading a couple accounts with substantial money involved, and he fucks it up. Loses money.
But with the help of a good teacher, he practices.
And he practices.
And he practices.
Years later, he puts substantial amounts of money to work in the market again. And he makes some of the best motherfucking trades he has up to this point in his life.
Imagine if Jeff had just said, “Well, that’s okay Trent. That was all right. Good job.”
And I think to myself “Well shit, I did do a pretty good job.”
End of story. Not a profitable trader like 95% of people aren’t.
That to me is an absolute tragedy.
There are no two words in the English language more harmful than “Good Job.”
OC