Ryan Jacob CAE: Develop a Winning Mindset
What makes a trader successful? Or what separates a clear winner from a mediocre one? For one, look at the trader’s mindset, says CAE Ryan Jacob. Prior to CAE, he worked as a growth equity, leveraged buyout, and recapitalization-focused private equity investor at Summit Partners, a $13 billion global private equity firm — another high-pressure environment like that of CAE’s. Whether you’re trading the fast-moving forex and futures market, or deeply illiquid secondary capital equipment in a non-exchange driven market, your mindset will always play a role in your performance. This is why you should develop a winning mindset. Here are some helpful tips by Ryan Jacob of CAE to accomplish just that:
1. Have a healthy attitude for losing – It seems counterintuitive, to think about losing so you can start winning, but adopting a healthy attitude towards losing can help you develop a winning mindset. How? In trading, there’s no such thing as a Holy Grail. In a matter of seconds, a trade can go against you and wipe you out, shares Ryan Jacob. At CAE, the equivalent of this is probably a transaction that seems ready to close but doesn’t for some reason at the very last minute. When this happens, it’s important to acknowledge the loss and move on. Young traders should learn early on to avoid revenge trading and chasing prices, as this will only wreck their portfolio.
2. Have tenacity and discipline – Trading should be regarded as just like any other performance sport. In fact, the best traders are elite athletes in their own right; they must be confident, skilled, and mentally-tough with a proven trading strategy and system. They are also disciplined with their trading rules and themselves. When it’s time to step away from their computers, they do so without any problem. The same can’t always be said about novice traders who may fret and panic with every price fluctuation. At CAE, tenacity among traders is also stressed. Tenacity is what allows the company to overcome any challenge and persevere in its mission to make sure the CAE platform is safe, comprehensive, and an effective choice for all clients.
3. Measure yourself with performance metrics – It is one thing to feel like you’re improving and another to know objectively that you truly are. This is why you should take means to measure yourself and your performance with metrics, says CAE Ryan Jacob. At CAE, performance metrics help the company promote and provide rewards to deserving employees. CAE does so based on merit and merit alone and this policy of meritocracy is what allows the company to grow and thrive. In your trading, strive to document your trades as detailed as possible. More than the profit and loss, you’ll have a better idea of yourself and your trading style if you also write down your analyses and insights before, during, and after the trade.
Developing a winning mindset does not happen overnight. It takes commitment and consistency, so keep at it until winning becomes second nature to you.