Being lucky…
I’m often told that I’m lucky.
You are lucky that you can do this, you are lucky that you have that, it’s lucky that this happened and so on.
But the fact is, underlying all elements of luck are two essential characteristics, belief and perseverance.
Belief
Some people are given a head start in life, while others are not as fortunate. I wasn’t given the best start, but it wasn’t the worst either but was pretty poor. Therefore, as a teenager, I often felt lost, confused, and academically behind. Expectations for me were low, to say the least.
One thing became crystal clear to me: I didn’t want the life I had.
Belief is crucial when embarking on any journey. Taking that first step is often the hardest part.
Growing up, I was frequently told that striving for something valuable was pointless. Many obstacles were thrown in my path, but I saw through them. I knew I wanted more, and I was determined to reach for it.
I found the strength to recognise that the status quo was far below what I desired, and I made a steadfast decision not to accept it.
Perseverance
Belief alone is rarely enough. Whether you call it desire, belief, or ambition, the journey to your goals is seldom straightforward. This is where perseverance becomes crucial. Facing significant adversity and barriers is inevitable.
Life is generally not fair. Accepting this truth makes it much more manageable.
My peers and mentors have often reminded me of this, and I’ve come to firmly believe that accepting life’s inherent unfairness is part of coping with it. When life deals you a bad hand, it doesn’t matter if you were right; you still got a raw deal. Understanding this helps you move forward.
Sometimes, life gives you a break, but it’s human nature to focus on the bad moments.
Life will throw all sorts of challenges at you. But these challenges don’t define you. It’s how you deal with them that shapes who you are. Injustice should fuel your determination. Don’t dwell too much on the disappointments; use them to propel you forward.
Surprise
One of the things that surprised me was that after years of hard work, when you finally get your breakthrough, you expect the world to change. It doesn’t. Life carries on as usual, and there isn’t any recognition that you have ‘made it’. Nobody holds a party to say well done. If that’s what you want, be prepared to be disappointed.
This reality highlights the importance of having clear and achievable objectives from the outset. These days, I pursue projects for the sake of achievement rather than recognition, and I derive immense satisfaction from this approach. It’s what gets me up each morning, sometimes as early as 4am!
I strive to achieve things that bring me satisfaction and push my limits.
A Bigger Surprise
The second surprise for me was that even when you are confident about something because you’ve thoroughly explored it, explained it beautifully, and executed it successfully, people will still offer opposing opinions. It’s a form of loss aversion—people push their views to feel better about themselves. Understand that.
It’s as clear as 1+1=2, but if confirming that means admitting you’re right, some will insist it equals 17.
Never let people sway you from your path. People often speak from their own perspective to satisfy their worldview. Don’t let that influence you.
Even if you’re sure of something and know you’re right through careful application of your principles, others might disagree. Social conformity can prevent your view from shining through. Don’t waste time with those who refuse to see the truth; they won’t change their minds, no matter how right you are.
If you’re correct, your view will eventually shine through, and people will catch up, wondering how you had such foresight. But you won’t get an apology—they’ll just slow you down.
Perseverance is about sticking to your guns for valid reasons and seeing things through to a successful conclusion. People will tell you it’s not right, not possible, even if you know it is. So I never fear going against the grain anymore, never.
People say things for their own reasons, even if they’re entirely false. Ignore them; see through it. Don’t let them dent your confidence.
Surround yourself with good people
During my journey, I’ve relied on the wisdom of those older than me to guide my path and share their experiences. However, I’ve also come to appreciate the energy and fresh perspectives that younger people bring. They don’t carry the same prejudices and often have more enthusiasm.
Embracing change and being open to challenges is essential. Change sweeps away the old and brings in the new, allowing you to move forward.
Another crucial element in your journey is surrounding yourself with good people. “Good” doesn’t necessarily mean wealthy or successful; it means having a diverse mix of individuals who can provide different perspectives. This diversity helps you consider all options and make well-rounded decisions.
Understand that no one can be 100% right, and alternative views can provoke thoughtfulness within yourself. Accept both their thoughts and yours with humility. If someone forcefully imposes their view, dismiss it—they aren’t truly listening to your question.
Surround yourself with people who challenge and support you, and you’ll find the strength and insight needed to navigate your path successfully.
Find good people.
Summary
You may notice I’ve mentioned luck very little here. That’s because I don’t believe in outright luck.
People often attribute success to skill and failure to being unlucky. The truth is, both good and bad events happen in equal measure. Don’t give yourself too much credit when things go your way. Instead, try to stay on a steady path.
Don’t change your approach with every twist and turn. Keep moving towards your goal, even if it seems distant at times.
You will eventually reach your goal if you keep moving forward, even on a meandering path.
Moreover, you must seize opportunities when they arise. This often requires courage, and sometimes the opportunity may not turn out as expected. However, taking the leap and learning from it is crucial for continuing your journey.
This applies not just to trading but to everything you do. As they say in Latin, Carpe Diem—seize the day.
So, when people say to me, “Hey Peter, you’ve been very lucky,” I remind them that luck is where opportunity meets ability, will, and perseverance.