A short YouTube talk (Adrian Reid) arguing that trading practices—specifically stop losses and time stops—can be applied to everyday life to avoid wasting time and resources. Examples include a 30-minute "movie stop loss" and time limits on investments or activities; the speaker invites viewers to suggest other applications in comments.
Have you ever considered that being a trader could actually dramatically help improve your quality of life outside the trading and financial world?
Here's an example of exactly how to do that. In our family, we have implemented a stop loss, not in trading. Well, of course I use stop losses in my trading because it's good practice, saves your life, saves your financial life, and protects you from having bigger losses than you're comfortable with. But how can you use a stop loss in everyday life? Well, we have implemented a stop loss on movies. So we have a movie stop loss because there is so much crap now that Covid has been around haunting us for almost two years, there is no good movies left. We've watched them all. And so the number of movies that we turn on and we get half an hour into it and say, oh my God, this is so boring, another crap movie. I wish Covid would go away so we can get some more good movies. But what we have now is a movie stop loss. So 30 minutes into a movie, if the movie is not gripping us, we turn it off and that's it, we move on to the next one. Because that way we don't waste two and a half, three hours of our life watching some crap movie. Right? And it's the same thing in trading. You have a stop loss so that when a trade goes against you, you don't have to sit with it and keep losing more and more and more and more money and wasting your financial resources. Why waste your life? Implement a Movie Stop loss 30 minutes into the movie. If it's no good, cut the movie, move on to the next one, and live to have a happier day. So where else could thinking like a trader improve your life? Well, you could use a time stop. Time stops in trading. You use them because the signal to buy has a certain duration, a certain lifespan. And so some systems, if the trade hasn't played out effectively and given you a positive outcome within a certain number of days or bars, then you implement your time stop and that gets you out of the trade. In life, you could implement a time stop on all sorts of things. I mean, I've implemented time stops on investments outside the stock market, you know, investments where I give it a certain amount of time to play out. And if it doesn't work the way I expected, then I just cut it and sell. The investment and move on. Could also be on certain activity. If you haven't gotten into it in a certain amount of time, then cut it and move on. So time stops can be really helpful as well. But stop losses on movies and books, in fact, have changed my life. Because, you know, I don't know about you, but I've had the compulsion to watch the whole movie just because I started it. I've had the compulsion to read the whole dead boring book just because I started it. But you don't have to implement a stop loss. It'll change your life, not just in trading, but also in your personal life as well. My name's Adrian Reed. This is Enlightened Stock Trading. Now let me ask you this. Where else could you think like a trader in life? Comment below. Let me know your ideas, because I want to improve my life as well. And I'm sure you've got some great ideas. So comment below. Where could you use trading principles in everyday life to make things better for you? See you in the next video. Bye for now.
Sam.
