The Power of One More
You guys, if you haven’t heard of Ed Mylett yet, you are missing out! He’s the author of our next Trader Must Read that we have for you today, The Power of One More. I mean, the piñata chapter alone had us totally sucked in! Ed Mylett is a world-renowned global speaker, elite coach, tv and podcast host, and deeply inspiring and engaging social media force. To hear him speak individually or interview so many other powerhouse personalities, he is really so genuine, thorough, and empowering. In this book, Ed focuses on the power of one more - he provides strategies to further understand your own psychology and the influence it has in your choices. And then offers great tips, exercises, and anecdotes to solve problems and achieve levels of success that you never thought possible.
“You must tune out the naysayers and all the negative distractions to focus on busting your piñata wide open. You'll feel disoriented at times, doubt may creep into your mind, and you may think that your goal is not worth it. Until you learn how to win those battles, you'll never enjoy what your piñata holds for you. If you stay with it long enough, you will enjoy the fruits of your labors. And everyone else in your circle who sticks around and supports you will enjoy those things as well.”
Check out our full discussion in the podcast below, including more of our favorite quotes and how we’ve adapted the advice into our own trading journeys and lives.
Ready for a bomb? “One of the core beliefs I hold is the importance of compounding. Compounding takes place when you attempt One More Try, time and time again. When you're successful in implementing a One More Try mentality, you'll create and compound more wins for yourself. Each of those wins creates an incremental advancement toward your goals. You stack them on top of each other to produce significant long‐term changes in your life.” There is a serious compounding effect inside trading that this sentiment of course drives my mind to. When I can lock into my process with the market and consistently execute solid trades, the compounding effect in my accounts is such a beautiful thing! Steady points locked in day after day, and even with some reasonable red days sprinkled in for the reality of variability, if you can stick to a real edge when trading, the rewards will build. The concept is solid - one good trade, followed by one good trade. This keeps it manageable and is how we are becoming consistently profitable traders; and the effects are compounding just as Mylett explains.
To put it another way, more broadly focused, Ed advises: “With everything you do this week, when you think you are done, remind yourself to do one more! Do one more rep in the gym. Make one more phone call. Read one more chapter. Give one more hug. Close one more deal.” This speaks to the habits and actions we all take in every aspect of our lives. If we can shift our mental game to this mindset of putting in more effort than we planned each day, it will hold more power for us in the long run!
As a trader, our primary goal is to be an effective risk manager! Mylett had this great point: “The most successful people in the world have one thing in common: a mindset that believes anything is possible.” Yesss! We feel this completely. If you really want to knock down barriers and build up a greater life than you have ever experienced, then you have to believe you are truly qualified and deserving. Our minds have to grow that belief both consciously and subconsciously for our actions to hold in line with the momentum and not falter as we rise. Mindset is so huge! So many gems with this book! Watch the full episode above, you won’t want to miss any of them!
The Power of One More has a 4.9 star rating on audible!
To listen to this book for yourself through our favorite resource for audiobooks & podcasts, go to: https://www.audible.com/pd/The-Power-of-One-More-Audiobook/B09XJ4SH4D?action_code=ASSGB149080119000H&share_location=pdp
Apex coupon code referenced in this podcast episode: https://atf.com/member/aff/go/travelgoals?keyword=website
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