Bit By a Spider: The Importance of Multi-Tasking

Posted on May 16, 2009 by Penny Stocks Picker

How a Spider bite taught me a few new tricks

It’s amazing how you can learn lessons from just about any experience and I want to share how I learned a few new good stock trading and life lessons before getting to the point. As you should already know from my articles I am a focused person with many set rules, one that I state often is to always pay attention (which I recently learned is only part of the equation—–more on that later). A few short weeks ago I was chilling out playing some on-line poker. While counting my chips and planning my next move, I didn’t notice this baby spider come out of the wood work. Well, guess what….when I put my cards down it caught me off guard. My methodology at the time was to win at all costs when it came to work, stocks, and poker and so naturally I wasn’t going to let the spider get away with that. I wanted to Smash the spider, take everything it had and leave nothing but a spot. I chased the spider into a corner and was just about to finish her off. Well Spidey looked up at me with those big dark beady eyes and said a few explicative’s (I can’t say them here) which made me laugh harder than I have in a long time. At that moment I had a change of heart. It became clear that there were more important things to life than to always win (like having fun) and that it’s also ok to be wrong or lose. So, I set the spider free and even helped her along the way. I consider myself lucky to have been bit, the experience has opened my eyes and taught me a few new lessons to apply in my daily life that I wish to share with you.

Lessons Learned

In my past articles I mentioned numerous rules (see education category archives) on the importance of taking your profits, paying attention, protecting your capital, don’t get married to stocks (just date them), learn to profit from the hype (bluffers/pumpers) and not to buy into it and so on. It was (and still is) my mission to provide you with profitable trades’ everyday which I pretty much accomplished if you entered and exited them correctly (but I’m going to slow down for a bit…see #2 below). Recently, I suggested and purchased millions of shares of MGLG at .0001 just a couple of weeks ago and it shot up over 3000% from that point a few days ago (that was a good day). I’m now getting questions if now is a good time to get in or out. My answer to you is this….OMG wake up McFly……have you read any of my educational articles in the category archives? What are you doing and what do you think I would have done? The answer is simple….take your money and run with that kind of gain…..you probably missed the boat, so move on already unless a new signal arrives (See #1 below). If you’re not interested in having a plan or taking the time to research and educate yourself then you should get a mutual fund and start enjoying life.

1) Multi-Tasking (The correct way to Pay attention): Focusing only on the task at hand (that one stock) will leave you vulnerable to unexpected events as well as missing out on other opportunities that come along in your life. If you pay to much attention to the little things without looking at the bigger picture you might just get hit by a bus, bit by a Black Widow spider or miss the next stock to run. When you’re trading a stock you need to be able to multi-task. There is so much information to research (i.e., news, market events, world events, watching time and sales, scanning charts and message board chatter….) that you must be able to quickly assess each source to make a determination on how to play that penny stock trade. Same goes for poker and life in general…as the cards are dealt (what comes your way) onto the table you need to watch how they might affect your future hand (life) as well as how the other players react. You need to quickly assess how this new information changes the players behavior (watch their betting (are they bluffing/pumping?), watch their body language or what they say). By paying attention with that added ingredient of multi-tasking, you will have a better chance of knowing when to go all in, hold or when to fold. Moral of the lesson here is that you must maintain a balance between focusing on the task while taking in as much information as you can (pay attention to everything!). The better you are at multi-tasking the easier it will be for you to take it all in and make quicker decisions which will increase your success in trading stocks as well as assessing potential new opportunities during your life.

2) Take it easy big fella (slow down), stop and smell the flowers: If I had finished off that little spider I might have missed these valuable lessons. Being quick is only an ingredient of successful day trading. Sometimes you have to pause and take a deep breath to assure you have accounted for everything and that you’re making the right decision (but don’t take to long or it might just get away…refer to #1 above). When things are getting out of control you can just take the day off. Go for walk, work out or something else to inspire you to better your mental and physical health. You will not trade stocks correctly if you’re felling bad. Don’t force a trade or play with scared money. You should first trade because you have a good signal and not to make $. If you trade well, the money will follow.

3) Have fun (you don’t always have to win): Look, There’s more to life than making $$ and having to win at everything. Friends, family and all the little creatures in this world are the most important thing, so put down the trader’s hat and enjoy them. I already knew this lesson but the little spider reinforced it. This is why I share my lessons with you at no charge….it levels the playing field and makes it more fun. When you’re in your final hours of life you’re not going to regret those things you did in life….it’s going to be those things you didn’t do.

4) Knowing when to hold, fold and bluff: Need I say more?

Tags: Multi-Tasking, penny stock