*** News Flash Update ***
Addendum, to this post, Connor McGregor, due to his high ‘Hype’ power and Big Business Draw,
has ‘bought’ out of reputational currency, a rematch, with Nate Diaz.
To me this is the equivalent, of someone with a big and growing trading account, after a first sudden unexpected and sizeable loss,
returning to the same market to ‘get his rightful & entitled money back’, from the market who took it from him.
The ‘Revenge Trade’ in the same market is on.
Revenge trading is usually fatal and quickly so, not universally immediately so, but in most instances pretty fast.
Trading is a microcosm of life, emotionality in decision making is fatal.
When in the market you are in the ring and on risk, process in decision making, small considered steps, plan for a loss, assume success
only after process.
My money is on Nate!
Like a market the feedback and outcome can repeat, and repeat relentlessly until you develop through the emotional trap.
Last night at 11:35 on the 5th March, I guerilla marketed the pre fight ‘hype’ of UFC 196.
There was a coded warning for someone in there.
See the reference to ‘Overperformance’.
The UFC an all martial arts fight arena, seems to have filled a void boxing left behind some while ago.
Recently Connor MacGregor, became the main draw.
He beat Jose Aldo a 10 year champion, in 12 seconds of the first round. [A great Over performance to the expectation]
In short following this, he was super hyped for the next belt fighter [RDA], who pulled out with an injury to his foot [The Trap], just prior to the day. Connor called it a ‘bruise’, ‘these people are running scared’
He was the toast of Ireland, and his already big following grew even further. His press conferences where a show in themselves, with jokes hyperbole, and predictions for first round knock outs.
Plenty of swearing, telling his opponent to fetch him [as the greater man] some coffee.
Stating the opponents called their wives back home, when they got the money fight, and said ‘honey put the red panties on for tonight’, in celebration of the money involved.
[Hype & Hyperbole of great dimensions followed his fights]
He aslo consistently emphasised the size of the ‘cheques’, I will fight anyone, I do ‘good business’, ‘my cheques are the heaviest thats all I am interested in’.
[Money as the primary aim?]
Whilst Muhamed Ali taunted opponents, money never came into it. Don’t get me wrong, I like McGregor, he created interest, sold his fights and I get that talking ‘smack’ helps sell seats.
The lesson in sport, life & certainly trading…
Is not don’t take risks, but certainly take educated planned smart risks.
After an Over performance that maybe sold Aldo short, was taking a 2 weight class climb the right risk. If Diaz had had to make 155 he would have spent his whole camp dieting down, in the end Connor assumed all the size difference risk, on the spur of a sudden challenge moment, in the cancellation of his planned opponent he went up another full weight class on top of a move up already. In trading this is know as ‘lumping on’, it is an emotional response to over confidence, and not seeing an outcome any other way.
My lesson from the below share was:
- The rushed emotional decision is usually wrong
- Risk management avoids a complete blow out & having to start again
- Always Sleep on a big decision
- Train for success, assume success, but base your stake on possible failure, to remain grounded
In my video how I made £165,000 in 2006, tax free in 5 days and why it was the worst thing for me.
I explain the dangers of ‘Overperformance’ and the effects on your mental state of balance.
Connor had been overperforming already, then had an extreme overperformance event on a long standing champion.
Overperformance begets future Underperformance, It is the management of life’s volatility, both up’s and downs, that gives a grounded man.
Life as it does then set a trap for him, that he fell right into.
Reaching not just the 1 weight division up, as planned, but 2 for the replacement fight. He took a fight vs Nate Diaz.
Dr De Martini an expert in Axiology [The study of values] says the universe works to keep you in balance, if you reach a point of over support, challenge will await you around the corner.
See my Dr De Martini YouTube Playlist here:
My Learnings were:
- Trading [or any pursuit] is a microcosm of life,
- Don’t believe the Hype, especially your own
- A sudden change in plan means new opportunities and new risks
- Never make rushed, emotional decisions, when a change to that planned presents itself
- The Majority are usually wrong, 91% backed Connor in an online poll
- Life requires Balance, so seek it out in your self at all times
- Money cannot be the primary motivator, if you chase it, it runs from you, love your art, the process & development, the rest quickly works out of its own accord
- Be humble stay in Balance, talk yourself up when down and down when up
- Strength to you all.
Humility and a failure however is just that, never the end, unless you take it as such, just a lesson in disguise, which I am confident Connor will take. I suspect he will be very well prepared and grounded on his next outing, and I wish him well.
Contact me on Trader@TheMarketSniper.com, for your trading journey advancement.
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