Lucy & Trading Forex Successfully – What You Can Learn From Lucy
This weekend my girlfriend and I watched the new movie Lucy with Scarlett Johansson. Entertaining, funny and somewhat provocative, the movie describes a woman who (through a strange turn of events) develops an ultra-powerful brain.
Being that I have studied Neuroscience at the University, while my partner has studied the brain from a health perspective, an interesting debate ensued after the movie during our summer saunter home. And out of the blue….the conversation shifted to trading (I wonder why :-0).
We’ve both trained traders, but from different fields, and we both realized there was a lesson inside the movie for those of you wanting to build a successful trading mindset. Below is our key takeaway from the movie, what we noticed about it, and how struggling traders can breakthrough to profitability.
Unsuccessful People Believe in Events, Successful People Focus on Process
In Lucy, Johansson has CPH4, a new and powerful drug, put into her stomach that is to be sold worldwide by a ruthless businessman. After being kicked in the stomach, the CPH4 releases into her bloodstream, overcoming her blood-brain barrier, causing her brain to expand in capacity and abilities. Within minutes (after a gravity defying series of convulsions), she starts to develop super human abilities (or are they ‘human’, just undeveloped in us???)
Philosophical and scientific debates aside, why do movies like this sell? Why do we constantly see movies about random ‘events‘ that turn people’s fortunes instantly – Limitless, Powder, Trading Places, Brewster’s Millions (yes, I’m old)?
The answer is, because they follow the general meme of most media, literature and culture – they focus on ‘events‘, not ‘process‘.
What do I mean by an ‘event‘? For this article, when I’m using the word ‘event’, I’m specifically referring to the end result moment in a long chain of events.
An event is the big paycheck, the striking it rich moment, the they’ve made it moment.
Media typically focus on events because it keeps the dream alive. Nevermind the largest wealth gap in history happening right now, or that home incomes dropping to multi-decade lows around the world.
Events get more reads, clicks and attention, giving people the idea that in a flash of lightning become rich, become a world-class athlete, some super special trader, or ultra-intelligent like Lucy.
But an untold sub-text lies underneath all these rosy ‘events’. There’s a harbinger behind each of them. That is, when you hear about an event, you don’t hear about the long process said-now-successful person went through to get that big paycheck.
A $57 Million Dollar Payday
Richard Sherman, the feisty outspoken cornerback for the Super Bowl Seattle Seahawks, recently landed a record breaking deal of $57 Million, becoming the highest paid cornerback in the NFL.
You’ll hear/read tons of stories, piling to the heights of Mt. Everest in the media about his big paycheck, the terms of the deal, how much it is, whether he is worth it, and how it breaks records.
What you won’t hear about is how Sherman was born in Compton (a really rough neighborhood in California), and how many people he knew were killed due to gang violence. Or how he was the Salutatorian in his High School class (second of all students academically) spending hours studying after a long day of practice, or an all-american track star, or a super late round draft pick in the NFL.
How many stories have been printed about his ‘process‘, all the hardships he went through to get this big paycheck, or how hard he worked over the last 8+ years? Compare that to the number of stories printed about his ‘event‘ and record breaking payday. I’m guessing the event articles outnumber the process articles by a margin of 10:1, maybe even 50:1.
Why? Because stories about ‘events‘ sell, and those about ‘process‘ don’t. Who wants to hear about how they have to work harder to become successful when you’re already working down to your bones? Who wants to hear they may have to put in 7 day work-weeks for 7+ years on end, when you barely make it through a five-day work-week with a family to take care of?
Few if any, but I’m not here to give you a false picture about trading. I’m here to help you become a successful and profitable trader.
14+ Hours Behind The Charts for 7 Years Straight
Outside of the members in my trading community, most don’t know I spent 14+ hours behind the charts for the first 7 years of trading, or worked 6-7 day work weeks at the broker when I was only paid for 5, or how I skipped out on many parties or weekend events on warm sunny days practicing on forex tester 2, and refining my price action skills. There was no ‘event’ behind my current success, just a relentless focus on process.
Breaking the Bank of England (An Event)
I’m guessing you’ve heard of George Soros’s big trade where he broke the Bank of England. But how many of you know the story behind it, about how he and Stanley Drunkenmiller did painstaking research for months on end, constantly getting rejected by investors to help finance his trade idea, or all the other work put into it?
Simply put, popular culture (especially in trading) has been trained to think ‘events’ just happen, and that ‘process’ is less important. You have to reverse this equation, and make process first.
Process Creates Events
By putting process first, you create the grounds for events to happen. Creating a garden doesn’t simply happen by buying a bunch of plants. You need to buy good soil, build a plant box for them, dig holes and plant them, give them nutrients, pull out weeds, and make sure they get the proper amount of sun regularly. Trading is absolutely no different.
First you had to study the basics of the market and the terminology behind it. Then you had get a free demo account and learn how to use the trading platform. After this you had to learn how to read charts and understand price action in real time. Then you had to find a trading system which made sense for you, then build a trading plan, then practice reading the patterns in the market, then train to accelerate your learning curve, learn optimal times to trade, build consistency in your trading execution, build confidence in your trading mindset, and then perhaps shift to live trading.
All of the above doesn’t happen without a focus on process in trading. Only seeing the event doesn’t help you get through the tough moments, help you keep the right perspective when draw-downs occur, or pick you up after a big loss.
Process keeps your head down until you have covered the distance. It helps you to continually move forward when you want to quit. So reverse this equation, re-direct your focus on the process, on what’s in front of you right now.
In time, you’ll find that big paycheck. It is there, and many of my students are now getting that big paycheck.
Like the one student of mine who just got $5 million in seed capital for his new trading fund, or Tony who started his own private fund after doing 110% return on capital over a year, or another Tony who made 100% return in just a few months risking only 1% per trade, which we talked about in our private members webinar, showing his real myfxbook account (image below).
I have many students trading forex successfully, but they all got there via process. There is no reason you cannot be next.
Always Preceded By This
Events do happen, but they are always preceded by process. So take the time to see where you are (and are not) focusing on process. Then build a plan of action re-directing your efforts to each of these skills, create timelines to complete them, and measure your progress until you get there.
Remember, the very underlying reason behind ‘the holy grail‘ is a pill, a one shot silver bullet, a solve-all-your-problems thing which takes you from losing money to super trader. Does such a pill or thing exist in Football, Basketball, playing piano or Martial Arts? No. So why would you think this exists for trading forex?
Why would you think all you need is a system to be printing money out of your laptop and trading account daily? Does having the best bow make you a professional archer? No, and neither does one system help you make money week in-week out trading. Process, and focusing on the little details does.
In Closing
The underlying cultural sub-text of the movie Lucy, is that events sell, but process doesn’t. Yet it is a focus on the process which gets you the big paycheck. Most of the world’s richest today got to where they were via process, not events. Many of them were homeless, or surviving on next to nothing at one point in their lives. Now they can buy a small island of Fiji.
You have a method and road map, now it’s time to dig into the trenches and do the work. The results are worth it, and so is what’s waiting for you.
Thanks Chris another great article. Just re-watched the section from one of your webinars in the course about process so this point is definitely hitting home.
All the best.
Howdy Jack,
Yeah, I focus a lot on process, so am glad to hear its starting to dig in.
Kind Regards,
Chris Capre
Wow- just well said all around! Thanks for keeping it real, Chris!
Hola Max,
Always trying to be real about the trading process, while making it intriguing and fun.
Kind Regards,
Chris Capre
Thanks for the great article. Great timing for where I am at. Yesterday I came across a short video essay on You Tube called the Long Game (Parts 1 & 2). It talks about this exact same thing, the long process in so many geniuses that is unseen by most. I would highly recommend it.
Hola Mark,
Yes, many of the greats employed a ‘long game’ when it came to process, so not surprising to hear this, but will check out the video for sure.
Kind Regards,
Chris Capre
Thanks for the nice article Chris..
P.S : Did you say you watch the movie with Scarlett Johansson
Hello Raja,
Indeed I did. Definitely a fun movie, but some interesting cultural sub-text.
Kind Regards,
Chris Capre
Hi Chris
I guess with such a great article you have settled well in your new home.
thanks for finding time to write remarkable articles that help our mindset
take care
prem
Great article, I’ve learnt enormous amount of essence from you and I’m still learning, I sincerely thank you for your work.
Hello Harry,
Glad you are learning lots from the material and underlying essence of what I’m teaching.
Kind Regards,
Chris Capre
Probably the most personally incisive forex article Ive read to date.
Thank you.
Hola Paul,
Good to hear from you as its been some time.
Glad you found this article incisive and useful.
Kind Regards,
Chris Capre
Nice article Chris. I have been following your blog for quite some time and am quite impressed with your highly accurate analysis. I have a simple qn here for you, I am following the indices and also commodities like coffee, wheat, corn etc., does the 20ema works on these instruments as well?
Hello Jack,
Am glad you like the blog and market analysis.
RE: 20 EMA
I’ve found the 20 ema to work on virtually any instrument that has sufficient liquidity. Although those instruments tend to gap a lot from day to day, you can still see a general pattern emerge on how it behaves with the 20 ema, so yes, it can be an effective tool when used properly.
Hope this helps.
Kind Regards,
Chris Capre
pretty close to that movie limitless where he takes that pill . these pills like modafinil .nuvigil or provigil seem to increase coginitive abilities . many students are taking it to cheat their way to top. at the end of the day people remember the topper i guess. people are yet to discover any major side effects though. however it keeps you awake for some time its said 8 hours sleep is needed and naps are good . is this what society is turning onto well winning is what matters at the end to most and if people just take substances and win their way i guess that would be a bit of a problem for ordinary people . i do believe there will me more of these brain drugs in the near future
There is suffering, there is a cause for suffering, there is an end of suffering, and there is a path of practice that puts an end to suffering. These truths, taken as a whole, are far from pessimistic. They’re a practical, problem-solving approach — the way a doctor approaches an illness, or a mechanic a faulty engine. You identify a problem and look for its cause. You then put an end to the problem by eliminating the cause.
Hi Cris….is the third time I read this articule. I think it has to be in the front of the desk or near the screen. It represents every day a way of living. When I finish Reading this morning I remember the movie Kung Fu Panda, that I saw with my Little kids. One of the main ideas of this preatty movie goes around a great message or a great secret. What happens in the movie is that in the main momment it appears that it does not exist a great message or a great secret. Everything goes around a great effort, push and “drive” that each moment of live we have to give to every activity. Congratulations about your program it´s great, and you are a great person..
Great article Chris! I watched Lucy endless times last year and looking at it from perspective of process vs event was interesting. I am now realizing the ‘process precedes event’ in all endeavors of life – not just trading. You have a knack of putting things ways that I simply ‘get’ them. Thank you! the articles on the site are like a goldmine.
Hello Kiran,
Yeah it was a good movie to highlight some key perspectives about trading.
I’m glad you are finding the articles and info on here helpful as there is a lot of valuable resources here to help traders make the turn.