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Since the early 2000s, the gradual climate of what it means to ‘get dressed for work’ especially for traders who work from home, has devolved greatly.  This is not a good thing for traders at any level of experience who strive to become wealthy and claim their God-given birthright to become financially independent.

Many spouses, partners, SO’s, and family members with someone in their life they care about who [now] works as a trader from home, have called me in distress because they see their loved ones sitting in front of the trading computers and monitors – many times in the same sweatpants, same socks, same pajamas for days or weeks on end.  Quite a few of those calling, who are concerned also comment that a diminished sense of personal hygiene with their traders has developed as well.

One of the most challenging things for people to understand when working from home is – just because you are working from home no matter what business you may occupy, that does not equate into becoming lazy about starting your day without showering, getting dressed, putting on makeup, having your coffee or tea or other normal routines you used to do before becoming self-employed – meaning all the usual routines you were accustomed to doing when you worked outside of your home.  The saying “dress for success” has not evaporated in today’s business world by any stretch of the imagination.

For instance, you don’t see anyone on Wall Street wearing pajamas, or sweatpants, or shorts, or flip-flops, or tank tops, do you? No, you don’t.  So why would you think that you should do so yourself?  What has happened to you as a trader, that you have lost self-respect about yourself that you no longer feel the need to “dress for success?”  And not getting “on the day” which is the term I have coined in this industry for decades - in terms of dressing for your business means you do not believe in your ability to create wealth as a trader, and therefore there is no need to get dressed.

Let’s backtrack a bit here.

Traders, in general, can be superstitious.  Most people in the trading industry believe this, know this, and understand this.  Each one of us has our own idiosyncrasies (superstitions) that we employ whether as traders or just in daily life.  For instance, how many times have you locked your front door, but maybe you walked back to re-check that it was locked?  How many times might you have been just about to leave the house, and went back in to make sure the iron was unplugged or a burner on the stove turned off?  These are simple idiosyncrasies that countless people do, simply to reassure themselves they are keeping their home or themselves safe.  Don’t buy into the notion there is something wrong with you double-checking yourself by anyone in the media.  There is nothing wrong with this, it’s just human nature that humans have employed for decades if not centuries to ensure their personal and family’s safety.  And, I have relayed countless stories in my coaching, workshops, and podcasts about traders whose superstitions either benefitted them greatly in their trading, or else turned them into “boom & busters” on a consistent basis.

As far as ‘superstitions’ go, quite a few floor traders I have known, dated, and worked with had no problem wearing the same socks day after day while on a winning streak; as a matter of fact, they would buy the same color, style socks in quantity to keep that streak going.  Other institutional traders I knew would wear the same tie to their brokerage firm office while on a winning streak – only changing the tie after a large drawdown to begin a new winning streak – due to their particular belief in that specific tie or set of ties.  In all of those instances however, not one of those traders would have even considered at any moment, not to wear decent clothes while trading – whether ironed khakis, a starched oxford shirt, and never, never did I see any traders wearing shoes that were not polished.

Other types of superstitions included not touching the medal of a saint pendant hung around their neck while trading which was always considered blasphemous (!) equating to an erroneous belief that you can’t ask a saint or God for wealth as a trader.  And let’s not forget the story I have told countless times about the penny found in the urinal at the Chicago Mercantile men’s restroom where we had our offices some years ago – when Mark Douglas went to use that particular urinal a floor trader pulled him away with an “OMG” what are thinking, there’s a penny in the urinal.  I always wondered what would have happened if someone had put a penny in all the men’s restrooms at the CME!  Of course, we can see that having a penny in a urinal could be viewed as disastrous while trading; as urinating on ‘money’ would mean you were about to ‘piss’ away profit.

My point here is, if you have superstitions about your trading, there is nothing wrong with that.  Mark Douglas used to share his daily regimen before trading with traders who asked, and I continue what he and I employed as our routine before ever turning on the computer or putting on the first trade of the day.  And even though we traded from our home, it would have never occurred to us not to get ON THE DAY by getting “Dressed for Trading Success.”

Again, if you are working from home as a trader, you must make a quantitative decision as to who you are as a trader.  Are you a trader that takes your trading seriously – or are you a trader that no longer believes you have to get dressed to go to work?

Obviously, office attire, even home office attire has changed in the past 15 years.  Yes, society at large has dumbed-down their personal appearance because they have become lazy and complacent.  And yet, every single successful person we see in the media, any reality-show people, professional athletes, musicians, race car drivers, Wall Street brokers, politicians, doctors, and more – anyone who is thinking like a winner – Dresses For Success in their field.

This is not to say if you are running errands you have to look your best, so don’t comment that I take this too far.  This narrative is to remind traders that if you don’t care how you approach your trading by getting up and heading to your computer without showering, getting dressed in decent clothes – in other words not caring about the way you look – then you can’t expect the ethers of the Universe, and the Universal Laws of Prosperity to care whether you make money or not.  Creating wealth as a trader is all about attitude and positive energy – and Dressing for Trading Success.

“When you get definite about trading success by looking your best each morning and getting ready to work - before you put on your first trade - then you begin to act like you know you will take profits; and then trading success gets definite about you.  Why?  Because you will have attracted that success to yourself by telling God and the Universe – I believe in myself as a trader who takes profits at any given moment because I am  “Dressed for Trading Success!” ©®

To this day, I still put on my trading jacket before I start trading.  Now, you don’t have to do that, but we will be adding trading jackets to our storefront very soon for you to do so.  Make up your mind what outfit you are going to wear as a successful trader – do this before it ever happens because visually you need to start seeing yourself as successful – otherwise it will never manifest.  This can be a nice pair of jeans, a nice polo shirt, loafers, and so forth.  The point is – make a decision as to how you view yourself as a trader and DRESS for that level of success.

When I was first working on the trading floor of the MidAm, making a pittance as a Runner, I was given a jacket to wear associated with the brokerage firm I worked for at the time, while learning and being taught by that firm’s brokers how to trade.  I was so proud to be wearing a jacket associated with floor trading I can’t begin to describe the feeling – I felt successful even while learning my craft.  So, even today, when I am trading, I still wear my trading jacket that represents my ability to take all profit as it becomes available to me.  In other words, I am a trader.  I am dressed as a successful trader.

More importantly, I am dressed for success.  I am “on the day” and dressed with a mindset of a “Disciplined Trader Warrior.”  Make up your mind if you want to take wealth out of the markets or simply roll out of bed and head to your computer not geared, not inspired, not dressed to win.
The choice is up to you.

Questions?  Schedule your Introductory Call with Dr. Paula today!